10 Factors to Consider When Buying a Used Car
10 Factors to Consider When Buying a Used Car
Thinking about buying a used car? This can be a great option for budget-savvy drivers who aren’t looking to lease or invest in a brand-new car.
When you’re in the market for a used car, you’ll likely spend hours researching different models and makes, comparing them among dealerships, and wondering which dealer to trust. You’ll probably find yourself with an intimidating laundry list of items to keep an eye out for and check off. However, that list is not as long and not as intimidating as you think!
So, what do you need to consider? We’ll help you get started!
1. Budget
Before you start looking for your dream car, set a clear budget to guide you through the rest of the process.
This can be difficult as you discover the plethora of options and add-ons that exist in the automotive industry, but sticking to your budget will help you quickly narrow your search.
While every person’s financial situation is different, a reasonable rule of thumb is to keep your car payments below 20% of your net income.
Make sure you’re paying a fair price by checking it against a service like Kelley Blue Book. Knowing the Kelley Blue Book value of the car will give you the confidence you need to negotiate. If there are any repairs that need to be done, make sure to factor that into your offer.
2. Vehicle History and Reputation
Looks can certainly be deceiving! In addition to examining the interior and exterior of the vehicle, you should request a vehicle history report. A vehicle’s history report will give you a more accurate picture of the vehicle’s condition, even if everything looks fine on the outside.
Sites like CARFAX provide comprehensive history reports, including odometer readings, damage history, title information, recall checks, maintenance history, and previous owner information. provide comprehensive history reports, including odometer readings, damage history, title information, recall checks, maintenance history, and previous owner information.
Aside from studying the vehicle history report, your preliminary research should also include checking the reputation of the makes and models you’re interested in. Several websites, including Kelley Blue Book and Consumer Reports, provide a wealth of useful information about vehicle reliability, recalls and feedback from other owners.vehicle reliability, recalls and feedback from other owners.
3. Touch, See, Feel, Smell, Listen
Even though it may seem obvious, it’s critical to get behind the wheel of the vehicle to test drive it before making a final purchase decision. When you step into the car, Ask yourself a few questions:
- How does it feel to drive?
- How secure and safe do you feel?
- Does the vehicle appear to have any blind spots that pose a safety risk?
- How sensitive are the gas pedal and brake pedal?
- Do you hear any unusual noises?
- Does the car vibrate or shake when you accelerate or brake or drive at high speeds?
Generally speaking, if something doesn’t seem right, it probably isn’t.
The smell of the car is also an important factor to consider. Water leaks or water damage can cause a musty, moldy, or mildewy odor, and cigarette smoke odor is difficult to remove.
Finally, the comfort of your driving experience is critical when making your purchase decision. Check that the audio systems are working, including radios, Bluetooth, and CD players. A comfortable ride also depends on the heater and A/C systems functioning properly. Check amenities to ensure you are satisfied with your purchase.
4. Pre-Purchase Inspection
This is arguably one of the most important steps to take when buying a used car. In addition to doing your own preliminary check, a professional pre-purchase inspection ensures that the used car you are considering is exactly what it claims to be. s that the used car you are considering is exactly what it claims to be.
Visit your local Virginia Tire & Auto location for a pre-purchase inspection. Our seasoned staff will provide you with a complete pre-purchase checklist, which thoroughly examines every aspect of the car, inside and out.
Don’t skip this step. It’s only one hour of labor to ensure that you’re making a good investment.
5. Lifestyle
Whether pre-owned or brand new, most vehicle purchases are based on practicality.
While the fire engine-red sports car might be within your budget, a spacious and safe SUV might be a better option if you have a family or plan to travel frequently. Don’t stray away from practicality even if you come across something edgier. Take the time to assess your lifestyle needs and think about why you need this car.
6. Financing
Whether you plan on taking out a bank loan or financing through the dealership, it’s important to keep your financing options in mind while you do your research.
Depending on the type of financing you choose, you may have to show proof of residency, income, or identity to pre-qualify for a loan. It all depends on what type of documentation your lender requires; however, it can speed up the buying process if you have these items prepared in advance.
7. Know Your Rights
When buying a used car, it’s great to know you’re protected by the government during and after the purchase. All dealers and sellers who sell more than six used cars per year are subject to federal laws that protect consumers.
While these laws can certainly be taken advantage of, ideally you will not have to deal with such inconveniences. Even so, knowing your rights and knowing what to watch out for will help you avoid unnecessary hassles.
8. Warranty
Even though it takes extra effort, it’s imperative to look at the fine print. By taking this one step, you may be able to avoid a great deal of unnecessary stress.
You may see some vehicles labeled as a “Certified Pre-Owned Car,” which can imply that it is still covered under the manufacturer’s warranty. However, sometimes these vehicles are covered under a third-party warranty or are no longer covered at all if they are older than three or four years.
If the car is no longer covered by a warranty, some individuals choose to purchase an extended warranty. As a result, your warranty will be extended from the original term, allowing you to rest assured that future repairs won’t be a problem.
Regardless of what you decide, make sure you thoroughly investigate the warranty as well as any signs or language on the vehicle. Pre-owned cars will often have a sign that says, “as is.” This means that the dealer is no longer legally responsible for any damage to the car once it leaves the lot.
Because of the possibility of consumer abuse, some states have banned “as is” car sales all together. Virginia is not one of these states and does allows “as is” car sales. For states that do permit “as is” car sales, the seller must provide disclosure documents and clearly state that no warranty is provided.
9. Insurance
Did you know that you need proof of insurance before you buy a used car? This is required, so before you drive off the lot and close the deal, make sure your insurance coverage is in order. You may be able to transfer your current insurance coverage to a different vehicle for a short period of time, but state laws vary.
When you have done your research and feel confident about a particular car or two, you’ll want to calculate your total monthly payment by getting insurance quotes.
“Once you’ve settled on a few contenders, or if you have made your choice, you can get car insurance quotes by providing the vehicle identification number, or the make and model, to insurance companies. That way, you’ll know what you can expect to pay,” Carinsurance.com says.
10. Ownership and Car Title
To complete the purchase process, the title of the vehicle must be obtained.
If you are financing your vehicle purchase, the car title will be sent to your lender until you have paid off the loan.
If the car has no loan or lien, the dealership or individual you’re purchasing from should provide you with the car title. If you’re completing the transaction with an individual, verify that the individual is the actual owner before finalizing the transaction. Check their ID to make sure it matches the name listed on the title.
Ready to Buy a Pre-Owned Vehicle?
Once you’ve checked off all your boxes, it’s time to bring the vehicle for a pre-owned vehicle inspection. Our team at Virginia Tire & Auto will inspect the pre-owned vehicle you are considering and make sure it’s in great shape. Interested in scheduling a visit? Choose from one of our convenient locations or give us a call at 855.425.3677!