Warren Collision Shop Gives Tips for Buying a Used Car
Buying a used car has many advantages over buying new. For starters, most cars depreciate 30-40% in value in only the first five years. In many cases, a five year old car that is driven 12,000 miles per year will only have 60,000 miles. This means you can find a reliable vehicle for potentially 40% cheaper than buying brand new.
The last thing you want is to overpay or end up in a car you regret buying, so here are tips to help you buy a car knowing you’re getting the best value possible.
Once you’ve found a vehicle that meets your needs, bring it over to Pole Position Auto Body before you make the sale final. We offer a free used car inspection at our facility for anyone prior to purchase.
Determine the Car’s Value
Generally speaking, the best value for a used car is when they are only 2-8 years old and have under 96,000 miles. You can check kellybluebook.com, edmonds.com or truecar.com. These websites will help you compare and research vehicles and determine what you should be paying.
Ask the dealership if you can see the Black Book price of the car, which is what a dealer should expect to pay for the car wholesale at an auction. A consumer generally should not pay more than $2,000 above the Black Book price listed for a car that’s in average condition.
When determining a cars value, don’t forget to factor in the cost of maintenance and insurance. Otherwise you might get a great deal on the final sale only to find out your new car is a gas guzzler or costs more than average for repairs. For example, certain luxury or sports models use specialized parts, resulting in higher repair bills.
Pay Attention to Financing Terms
It doesn’t make any sense but it happens all the time. Consumers fight salesmen tooth and nail for the best price but will gladly give away their hard earned income on the wrong financing terms. Keep in mind the wrong loan can quickly cost more than savings you’ll get negotiating on price.
If you choose to finance your vehicle, get the best rate you can, put as much money down as possible and don’t commit to any loans longer than 36 months.
Get a Vehicle History Report
A 5-year-old car with only 50,000 miles may have many more problems than a 10-year-old car with 100,000. It all depends on the type of vehicle, the type of owner and how the vehicle was maintained.
Before you consider buying a used car, you’ll want to obtain and study its vehicle history report from a company like Carfax or AutoCheck. Some dealers will show you the reports for free, but if you order them yourself, pricing starts at about $25 for a single report.
Contact Warren Collision Shop, Pole Position Auto Body
If your vehicle is damaged due to an accident and you are looking for a Warren collision shop, schedule an appointment with the professionals at Pole Position Auto Body. Our state of the art equipment and trained technicians will make sure your vehicle is returned to you in pristine condition – inside and out.