When purchasing a used car, there are many things that you will have to consider. While getting a vehicle that’s already been used could prove to be a good financial move. However, just because you may be getting a better deal on a car doesn’t mean that you shouldn’t be taking the proper precautions. At your next dealership visit, be sure to consider the following factors before getting a used car.
Value of Vehicle
One of the primary components that you need to look at when purchasing a used vehicle is the vehicle’s value. Before purchasing a used vehicle, find out what the market value is of the car before your dealership decides to overcharge you.
In addition, the dealership may attempt to downplay any blemishes or anything else that could potentially diminish the car’s value. That is one of the aspects that makes purchasing a used car a bit tricky. While you technically are supposed to be saving money, you may still end up paying a premium price for a car that may have a lot of features that lowers how much it’s actually worth. You are going to need to understand the entire picture of the car’s current state in order to get your money’s worth.
Another important aspect of purchasing a used vehicle is looking at the history. When looking at the history of this vehicle, there are certain things that you need to look for. Performing a thorough history check will give you access to information like:
- if the car has been previously written-off
- if there’s outstanding car finance
- if the car’s recorded status is stolen
The last thing you want to do when purchasing a vehicle of any kind is to find out that it is registered as stolen or if there is financing that is still outstanding. In fact, if you purchase cars that have a loan agreement already, you could become the person liable for another person’s debt, even if you don’t own it yourself. What makes this worse is that there is no legal obligation to have your money returned because your purchase likely won’t have any protections. Exceptions for credit card purchases exist, but you’ll be hard-pressed to find dealerships that accept such a payment method.
A used car is certainly worth paying a small fee, but you need to ensure that there are no underlying scenarios surrounding the car that sees you taking on unnecessary debt or responsibilities. You can avoid all of this by checking out the car’s history in depth.
Match the VIN
You are also going to need to perform a VIN number check when visiting your dealership. The VIN, also known as the vehicle identification number, is usually found right by the windscreen. It can also be found stamped under the carpet of the driver’s seat. In the V5C registration document, ensure that the numbers match up.
Do not leave your dealership without first seeing how it feels with you. This is a golden opportunity for you to identify whether or not something seems off. Before you take test drive, you need to make sure that you’re insured. Make sure that you are constantly checking your car insurance policy to see if it allows you to drive a car with the permission of the owner. This is also known as a DOC (Driving Other Cars) cover.
You should try to see if you can test drive it for at least half an hour and experiment at different speeds to see how the brakes, gears and steering handles. Odd noises should be checked upon frequently, and do not forget the electrics.
As you can see, there are a number of factors that goes into purchasing a used vehicle. You can get yourself a quality vehicle at an affordable price if you know where to look. However, you should also do your due diligence and check for all of these things before leaving with your vehicle.