If you are interested in a high value alternative to buying a brand new car, a used car can be the best option for you. Used cars have a stabilised rate of depreciation that makes them much cheaper than new cars. The technological advancements have made it very easy for you to search for a used car suiting your budget and requirement.
The main reason for why used cars are better is affordability. Buying a brand new car is more expensive than buying a used one. The tax procurement and registration fees required for used cars are less than those procured on the brand new cars. Moreover, the initial costs on a new car are hefty. Financial institutions generally require the customers to make down a payment of at least 10% on a new car loan. If you make fewer down payments, then you need to pay high monthly installments.
Certified pre owned programs
Certified pre owned (CPO) programs are increasing nowadays, which have made purchase of used cars a better option for buyers. Luxury car brands have started these programs and many manufacturers have instituted them. Buying CPO cars offer you a lot of benefits. Manufacturers consider only latest models of the low mileage used cars that have no history of major damage for their CPO programs. They make a thorough inspection before providing certification. Hence, you can get guarantee that the used car you want to buy is free from any problems or issues. Some manufacturers even offer special financing on CPO cars at lower rates than new car loan rates. CPO cars may be more expensive than regular used cars, but they are value for money and give you ultimate peace of mind.
Negotiating the rate
Negotiation is an added advantage of buying a used car. You can always negotiate with a seller of used cars. You cannot expect this facility, while buying a brand new car. If you have bargaining tactics, you can get a good deal. Nowadays, many car dealers are keeping their attention on offering great deals on used cars. Buying a used car can be beneficial, if you follow the steps provided below.
The first and most important step is to spend some time in researching. You can always read online reviews, customer reports or ask friends and colleagues. Then determine the makes and models that interest you. Some websites allow you to see the photos of used cars, which help you get an idea about them. It is important to decide how much you are willing to spend for a used car. This can help to narrow down your search for a used car.
Once you have decided the car dealer and the make or model according to your requirements, you can check the car personally. Check whether the car has any scratches, corrosion spots, dents, excessive tire wear or any other problems.
The car dealers generally allow you to take a test drive. During your test drive, check whether there is any irregular noise or vibration. If possible, you can test drive the car on motorways to asses it’s performance. Used cars save you a lot of money. Spending a few hours researching for the best used cars around can help you find the car you want.