5 Mistakes to avoid when buying a used car
Buying a pre-owned car can make you moneywise. But you also have to consider whether it is a smart decision. Purchasing a new car is expensive indeed but this should not be the only consideration to go for a second-hand car. Since you are anxious to make a choice, and there are so many alluring varieties, you may arrive at a decision hastily. As is said, ‘Haste makes waste’! There are certain things that you should avoid when buying used cars in denver.
Budget: You have to consider your finances before stepping out to buy a car. How much you can afford, whether you can pay outright or look for finances, are all things to be considered. When you know your limits it helps in better negotiations. You cannot bite off more than you can chew. Also not always can you make a full cash payment. There are certain costs and fees associated with when you look up for finances. Hop around and find out the best deal as the rates are different with different lenders. You can also calculate your monthly expenditure in terms of repayment online.
EMI: This one concept has eased up buying for a vast lower income group. Since the payments can be made in installments, you need not worry about arranging the full amount immediately. But do you know that when the installments are spread over a long period, you end paying more than the cost? By paying a higher amount each month you can quickly repay the loan.
Negotiations: Once you visit the dealer and look at the choices available, you are lured towards buying. You may not be able to negotiate a best price in this case. So if possible try negotiations over an email (a written confirmation always works) before you step into the shop. You can try more than once when you do not face the person and try to get the best deal.
Test drive: Research indicates that second-hand buyers do not show much interest in test drive as much as a new buyer. They rely on the dealership. This may be a cause for concern since you have missed your opportunity. Later when there is an issue you are not in a position to complain that you did not do a test drive.
Vehicle report history: Each vehicle sold will have a record of its previous owners, any accidents or damages caused thereof, and any other major concern. This is another important check which if skipped can only be a cause for your regrets. When you are buying through a certified dealer they can do the research and provide you the same but in case you are buying through any other source, the duty is yours to scrutinize the history.
On the whole, do not miss the opportunity to be alert and strike the right deal on an impulse.