A used car can help you save thousands of dollars. But while buying a well-maintained pre-owned car can be a smart financial move, making an impulse buy could result in you, unfortunately, ending up with a lemon. So, whether you’re heading to the nearest auto dealership or looking to purchase from a private seller, the points mentioned in this article will help you make the most informed decision.
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Do Your Research
You really need to know what you are looking for before you start shopping. Then, with your list of features in hand, you’ll be ready to research cars in price ranges that fit your budget. Start by identifying different models that are commonly sold by car dealerships in your area with the features that are important to you. You can do that by checking out classified ads and print materials from showrooms. As part of this process, make sure you also read editorials about different models and talk with friends who own the type of car you are interested in buying.
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Consider Your Financing Options
There are various factors to weigh if you’ve decided to buy a used car with financing. Interest rates vary widely among lenders, so be sure to get rate quotes from a few places before you buy. Keep in mind that you could also potentially get a much better interest rate with a cashback offer through your insurance company or credit union.
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Run a Carfax Report
A Carfax report helps you to learn about a car’s history, including if the car was in a major accident or has other potentially concerning events in its history. You can run a Carfax report before buying a used car from a dealership or request the dealership to do it for you.
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Make Sure to Take the Car for a Quick Test Drive
Test drives are a very important part of buying any used car, and they can help you make a decision between two or more cars. To make the most out of the test drive, be sure to take it on multiple types of roads and in a number of driving conditions. If anything seems off to you – or even if you have doubts about the ergonomics of the car – don’t be afraid to walk away from an otherwise promising deal.
