Most people today prefer to buy a second-hand car over a new vehicle. According to a report by a leading auto industry think-tank, used cars are perceived as a better investment and retain their value more among Gen Y. It’s not only about finding the right, click for source!
Find the right dealer. Federal Trade Commission’s (FTC) website has some helpful information.
Some tips for handling both. Here are a couple of them.
1. Check out the car for yourself, and then have your own mechanic check it. All reputable dealers will give you this chance before you buy.
2. Before buying, make sure you test-drive it in a variety of road conditions. On hills, highways or in stop and go traffic.
3. Before buying, you should consider the dealer’s credibility. You can find customer testimonials on a good dealer. Also, contact the Better Business Bureau and ask if they are still dealing with any complaints.
4. By law, dealers are not required to give used vehicle buyers a cancellation option. Before buying from a dealership, inquire about their return policies.
5. You should always get copies of anything you sign.
6. Find out the cost to own the vehicle that you’re interested in. The U.S. Department of
Transportation has information regarding recalls, gas mileage and other topics.
7. Don’t trust spoken promises. Be sure to get all written promises and warranties, as well as a receipt.
8. You should ensure that your dealership or financial company informs the credit agencies of any good payment histories. This will (overtime), improve your credit scores and may lead to lower rates of interest in the future.
9. Avoid buying more than what you can pay for. Consider the amount you can afford to put down as well your monthly payment, length of the mortgage, and APR.
10. Many used cars include an “As it is” warranty. In other words, there is no warranty. Many reputable dealerships offer freewarranties, so be sure to ask and ensure you know what you are getting.
Keep “reputable dealer” on your mind. This is very important. Dealerships cannot be run on an assembly line. This can lead to a lot of customer frustration. Great dealers advise and guide their customers.
You can work with them to find a vehicle that fits your needs and the financing you need.