Follow these Steps to Make Used Car Buying Easy.
If you’re in the market for a deal on used wheels, here are 8 steps to make used car buying a heck of a lot easier!
Step 1: Crunch the Numbers
How are you paying for your new car? If you’re paying cash, you already have a car budget in place. If you’re taking out an auto loan, your lender will determine how much you can afford.
It’s a good idea to consider getting pre-approved for your loan before visiting the dealer’s lot. One reason is it may give you stronger negotiating power with dealers. Another is pre-approval can make the buying process faster. At St. Paul Federal Credit Union, we make it quick and easy to get the low-rate auto loan you need with our online application!
Step 2: Create a Target List
What make and model car do you want to buy? Check out Consumer Reports for reliability ratings on vehicles from the most recent model years. Aim to narrow your choices to three or four model cars and go from there.
Step 3: Research
Start researching prices and listings for your vehicles of choice. Sites like Cars.com can help get you started. You can find used cars for sale in other locations such as:
- The used-car section of new-car dealerships
- Used-car dealerships
- Used-car retailers like CarMax.com
- Websites like Facebook Marketplace or Craigslist where car owners privately sell their vehicles
When researching cars and prices, determine the average asking price for each car.
Next, find out all you can about each vehicle with a vehicle history report from sites like Carfax.com.
Step 4: Call the Seller
Contact the seller to verify the information you’ve learned about each car. If you’re using a private-party seller, ask about any possible mechanical issues. When working with a dealership, ask if the car is still in stock and for any information you couldn’t find on your own.
If everything checks out, set up an appointment for a test drive.
Step 5: Test Drive
Pay attention to these details during your test-drive:
- Is there sufficient legroom?
- Is the ride smooth?
- How is the acceleration?
- Does the “check engine” light stay on?
- Do you have full visibility?
- Are the brakes working well?
- Do all the lights work?
Next, ask for the vehicle’s service records to determine if it’s current on scheduled maintenance.
Step 6: Have it Inspected
If possible, have your car inspected by a mechanic. It can save you loads of aggravation and lots of money down the line.
Step 7: Negotiate
Make an opening offer based on the average price for your car and use all the information you’ve learned about your vehicle as bargaining chips. Be firm and you just may end up with a fairly priced vehicle. Don’t be afraid to walk away is the price doesn’t fit your budget.
Step 8: Make it Official
If you’re buying your car from a private-party seller, make sure the title and registration are officially transferred to you. If buying from a dealer, give careful thought to any extra protection that may be offered. Finally, read the contract carefully and make sure you have insurance before you drive off the lot. If you’re looking for insurance options, we can help you there too.
Now, you’re all set to take your new car for its first spin!