Used Car Buying Guide
Posted Monday, Apr 08, 2024
While finding the perfect used car can be exciting, careful preparation is crucial to avoid ending up with a vehicle riddled with problems. Buying a used car can be a smart financial decision, offering significant savings compared to a new vehicle.
Before making the purchase you might want to know what to look for when buying a used car from a dealer. In this article, we help used car buyers by highlighting everything they might want to be on the lookout for.
Finding Used Cars In Your Budget
The first step in buying a used car is to determine your budget and the type of car that best suits your lifestyle. Consider your daily commute, passenger needs, and cargo space requirements.
Buying a used car offers you similar advantages as you would experience driving a new car. Used car buyers can explore buying between a used car and a certified pre-owned car which are meticulously inspected and often backed by a warranty.
What To Know About Buying A Used Car
Before setting your heart on a specific car, Your first line of defense is a vehicle history report. Research its history using the VIN to uncover past accidents, flood damage, or recalls.
Rule number one of buying a used car is firstly giving a thorough inspection, checking for body imperfections, uneven tire wear, rust, and proper functionality of all parts.You may then take the car for a test drive, listening for unusual noises, testing the climate control and electronics, and being aware of any signs of water damage. You can even take the car to a mechanic whom you are comfortable with to get a second opinion on any of our cars. A professional mechanic may even offer advice on buying a used car to help you make an informed decision.
Securing Insurance for Your Used Car
Once you've found the perfect used car, securing proper insurance is an essential step. While insurance costs can vary depending on individual factors like driving history, location, and the specific car itself, it's important to understand the different coverage options available when buying a used car to make an informed decision.
Understanding Coverage Levels:
- Liability Coverage: This minimum legal requirement in most states covers property damage and bodily injury caused to others in the event of an accident where you are at fault.
- Collision Coverage: This optional coverage helps pay for repairs to your own car if it's damaged in a collision with another vehicle or object.
- Comprehensive Coverage: This optional coverage protects your car against damage from non-collision events such as theft, fire, vandalism, weather events, and animal strikes.
When shopping for insurance for your used car, it's wise to compare quotes from multiple insurers to ensure you're getting the best possible rate for your needs.
How To Finance Your Used Car
Most used car buyers get a pre-approved loan or seek in-house financing to help pay for their used vehicle. Some used car buyers may not qualify for an auto loan due to bad credit, resulting in to switching to other alternatives of financing to buy a used car. In this used car buying guide, we assess each financing option to help you purchase your dream ride. Let’s take a closer look:
- Bank Or Credit Union Loans:
Your bank may offer you a pre-approved loan based on the model and year of the car you plan to purchase. However, if you are a used car buyer with a bad credit history, it might prove difficult to secure an auto loan. Unless you have a good reputation with your local financial institution, they might grant you an auto loan based on some requirements. Through this, you can improve your credit score while financing your used car. - Buy Here Pay Here:
Most used car dealerships offer Buy Here Pay Here to used car buyers. This type of in-house financing allows you to finance and purchase your used car in one place. The best way to buy a used car for drivers with bad credit is a BHPH used car dealership with no credit check. The good news for used car buyers is that your credit score does not suffer if you choose to buy from a Buy Here Pay Here car dealer. - Online Lenders:
If you’re buying a used car from a private dealer, you might switch to online lenders that offer you high-interest loans. Used car buyers will have to apply for a loan application online and wait until they are accepted for a loan. However, there’s a catch when securing financing from an online lender- is that they usually have a set of dealers that you’ll have to buy your used car.
Unless you have the cash for it, buying a used car can be a challenge. The aspects of inspection and evaluating the risks involved in buying a used car can lead drivers into a dilemma. It’s important to explore your options in terms of used car models and financing options to buy a car that’s with you on the road for a long time.
Pros & Cons Of Buying a Used Car
Deciding between a new or used car involves weighing the advantages and disadvantages of each option. While new cars offer the allure of the latest features and factory warranties, used cars present significant financial benefits. It’s essential for used car buyers to evaluate the pros and cons of buying a used car. Let’s take a closer look at them in our used car buying guide:
Pros:
- Lower Cost: The most undeniable advantage of buying a used car is the significant cost savings compared to a new car. New cars experience a steep depreciation the day they are driven off the lot. With a used car, someone else has already absorbed that hit for you. Additionally, you typically avoid the added costs associated with new car purchases, such as destination fees and dealer markups.
- Slower Depreciation: Substantial depreciation typically occurs within the first few years of ownership for a new car. By opting for a used car, you've already passed this initial depreciation stage, resulting in a car that retains more value over time.
- Wider Selection: The used car market offers a vast selection of vehicles across various makes, models, and ages. This allows you to find a car that perfectly aligns with your needs and budget, potentially offering more features or a higher trim level for the same price you might pay for a new base model.
Cons:
- Potential for Repairs: Unlike new cars with factory warranties, used cars may require more maintenance and repairs down the road. While a thorough inspection and a vehicle history report can help mitigate this risk, it's essential to factor in potential maintenance costs when budgeting for a used car.
- Unknown History: Unless you're purchasing a CPO vehicle with a manufacturer's warranty, a used car's history might not be entirely transparent. A vehicle history report can provide valuable insights, but it's crucial to remain vigilant during the inspection process to identify any potential issues. Before buying a second-hand car it’s essential to ask for the car history to understand what potential issues you might face down the road.
- Limited Features: Used cars, particularly older models, might not offer the latest technological features or safety advancements found in newer cars. Carefully consider your priorities and desired features before buying a used car.
Get The Best Used Car Dealership in Florida
Finding the perfect used car in Florida can feel overwhelming. Honest Autos, a trusted Buy Here Pay Here used car dealership located in Fruitland Park, is here to simplify your search. We stand out from other Central Florida used car dealerships with our commitment to transparency and 45+ years of experience.
This means upfront sales conversations, clear pricing, and complimentary vehicle history reports for every car on our lot. Contact us today or visit our used car dealership in person to experience the Honest Autos difference and find the perfect used car for your needs.
FAQ’S
The question of how to buy a used car is answered in our used car buying guide. If you still have unanswered questions relating to the best way to buy a used car- we’ve got you covered.
What is a good mileage for a used car?
The best way to buy a used car is to check for mileage under 200,000 miles. If you buy a used car with a high mileage, be prepared to deal with frequent maintenance costs. Checking for the mileage and inspecting the wear and tear on the car’s engine is one of the tips for buying a used car. By doing so, used car buyers can evaluate their options and visualize how buying a used car can impact their lives. At Honest Autos, we offer used car buyers a full history report and work on transparency with our customers. Our Buy Here Pay Here, used car dealership is designed to help used car buyers purchase their dream car.
What not to tell a used car dealer?
Some used car dealerships might be operating on a mission to exploit you if you have insufficient knowledge when buying a used car. Used car buyers should conduct a background check on their local used car dealerships and search for reviews online as they explore used car lots. Avoid giving yourself away by making statements such as, “I don't know much about cars” or “I never bought a car before” to avoid getting stuck in a difficult situation. While such used car dealerships operate on exploiting their customers, Honest Autos works to be a trusted used car dealership. Our dealers prioritize transparency and work to empower you as you drive off with your new ride.
What is a good offer on a used car?
A tip on buying a used car is to search the market value of the pre-owned car you are about to buy. Used car buyers should be able to save 5% or so below the market value when purchasing a used car dealership. At Honest Autos, we have a wide selection of used cars at competitive prices. Visit our Buy Here Pay Here used car dealership with no credit checks to get the best offer!
