3 Tips to Buying a Used Car
If you need tips to buying a used car from a private seller, or tips to buying a used car from a dealership, buying a good used car is possible.
Have you ever wondered why mechanics and car guys ALWAYS have a story about how they bought a great running car for $500? It’s because their knowledge of cars reduces their risks of getting a lemon!
I’m not saying you have to become a seasoned mechanic in order to buy a car. I’m saying, if you just spend a little bit of time researching and learning, you can greatly enhance your chance of getting a better deal.
In this article I want to give you a few tips and tricks to buying used cars that everyone should know.
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Tip 1 – Do Your Research
In the car business, knowledge is power and can save you thousands of dollars. You can get a much better car based on the amount of learning and research you decide to do before your purchase.
In other words, do your homework on the vehicle year, make, and model. Check consumer reports, reviews, and recalls. Google, YouTube, and the internet are amazing tools that are readily at your disposal and will help you tremendously when you are buying a car.
The make and model of every car has positive reviews and negative reviews, so check them out. Also, be sure to check for “warranty enhancements” and “recalls”. You can easily find good usable information about the general reputation of any car you plan to buy.
CLICK HERE for The Cheat Sheet: 30 Tips to Buy a Good Used Car
This requires some work on your part, and it doesn’t take much more time and effort than what you already spend on social media every single day. Replace that time with a little bit of research about things you may find under the bottom of a vehicle.
Cars are not rocket science. I know It’s not glamorous, it’s no fun, and it’s not even particularly interesting. But it will save you time and lots of money, if you are serious about buying a car.
You are about to spend thousands of dollars of your hard earned dollars, so learn just a tad bit about what you are going to purchase and what to look for in the process.
People that know about cars get better deals because they are less likely to be duped. So when you find a car you like in your search, research the recalls on the vehicle, research the consumer reports on the vehicle, and research what owners have said about it.
When it comes to tips to buying a used car, doing your due diligence is one of the most important.
Tip 2 – Under the Hood and Under the Car
A car may look good when you open the hood, but gravity is undefeated. Many problems can be discovered by looking underneath the car. Never buy a car without having a trusted mechanic look underneath the car.
Ask to keep the car overnight, or at least, take it for a test drive. When you take it for a test drive, use that opportunity to take it to a mechanic. Or meet the person selling the car, at your mechanics shop, or at a public shop.
Ask them to put the vehicle on a lift, and you and the mechanic go over the underside of the car together with a flashlight.
Click HERE for a video to understand exactly what is under the hood.
Carry a flashlight. Problems hide in the dark. If you have to pay $50 to the mechanic, or $40 for an oil change in order to get the shop to put it on the lift, do it…Its worth it if you are serious about buying the car.
Click HERE for a great video on understanding what is underneath your car.
If you buy the car, great. If you don’t buy it because you discover something you don’t like….that’s great too and it only cost you $40 or $50, but it could save you thousands. It’s money well spent. Trust me. The one thing you don’t want to do is use your money to buy a lemon, so you have to do your due diligence.
Tip 3 – Negotiate the Price
Never be afraid to walk away and never fall in love with a car. Buy your car on logic and common sense, not on emotion! The sticker price of every car is a “starting price”, not necessarily the bottom line price. That price on the car is what the seller would like to sell it at, not what they are willing to sell it at.
Negotiate the price and never be afraid, or too emotionally tied to the car, to walk away. Don’t try to negotiate from a position of desperation. Click HERE for more negotiation tips.
“You don’t get what you deserve, you get what you negotiate”
Chester Karass
Desperation makes you a weak negotiator because it destroys any leverage you may have! Avoid being desperate, and be able to walk away if you don’t feel comfortable buying the car. This is HUGE!
This ability to be able to walk away will make you more patient, more careful, more picky, and ultimately more successful. When it comes to tips to buying a used car from a private owner or tips to buying a used car from a dealership, you need negotiation skills.
Click HERE for a great article about the types of things to look for when buying a used car.
If you do your research, learn about the car, get it checked out by a reputable mechanic, and be willing to negotiate, you can lower your risk of getting a bad deal.
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The book features details of more than 70 car buying hacks when buying cars cash, sure fire negotiating tips, and my car buying experiences over the years.
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ABOUT THE AUTHOR
Eric is the founder of Smart Money Bro, a blog about empowering people and discussing practical ways ordinary people can be extraordinary with their money. He only writes about things that he has done, and that actually work. He’s made mistakes and has turned his financial future around, and is now in the position to help others do what he’s done. Read More