Type of Car: If you know the exact make, model, and year of the car you want, you can easily find good examples on sites that aggregate cars sold at franchise and independent auto dealerships. You can also use online tools if you only have a general idea of the type of car you want. You can use these sites to search for vehicles according to brands, body types, miles driven, age, fuel type, transmission type, and asking price. The important thing is not to go to a dealership without doing your homework.
Where to Find It; Most cars are sold from franchise dealerships, and the rest are sold by independent car lots and consumer-to-consumer sales. Franchise dealerships usually have a lot of late-model used vehicles because they lease a lot of cars. So you’ll have the option of choosing a great late-model used car that was maintained by the dealer. Car buying services also help by dropping the entire negotiation process and making trade-ins easy as well. They tend to be pricier, but dealing with them is so much easier, and you know you’re not getting ripped off.
Paying for It: If you’re paying cash, then you’re likely to have a set budget and know that you won’t exceed it. If you’re taking out a loan, there are certain things you should keep in mind. Save at least 10% of the price as a down payment. More is better. Ideally, get preapproved or at least pre-qualified for a loan before going to the dealership. Don’t get carried away by the low monthly payments. It’s okay to pay a little more if you can afford it, to be debt-free in 24-48 months.
How to Not Buy a Lemon: Cars from franchise dealerships or car-buying services usually have some warranty. It could also be a Certified Pre-Owned program from the manufacturer that covers the car for a while. But always check the vehicle history report from Autocheck or Carfax to see if it’s been in any accidents, has a salvage title, number or owners, and whether it’s been serviced regularly. Before you buy, hire a mechanic to inspect it and give you a written report. Use the data to make the right decision.
