The latest study by TransUnion reveals many customers who qualify for a new-vehicle loan still opted for more affordable “nearly new” second-hand cars and trucks instead.
Buying a used car is baffling. Whether you’re sorting used cars for sale portals or through an auto broker, the experience can be staggering, especially for first-time buyers. Plus, second-hand cars usually don’t have warranties and other perks.
With that in mind, today, we’ve compiled a list of five common old car-buying mistakes to avoid.
Mistake #1 Not doing the homework
In this age of the Internet, the process of buying cars has become more democratized than ever. We have access to every minute fact and figure about a specific car brand or model. This includes mileage, body, and engine type, mileage, and safety features like airbags, ABS traction, etc.
So, there’s no reason you need to step in a local used car sale mall or contact genuine sellers without having first researched the vehicle online.
Mistake #2 Not checking vehicle’s history report
Most buyers understand the importance of flipping through the vehicle’s history report for its self-evaluation. However, some still don't know what this report is all about?
It is a detailed outline that tells everything that the vehicle has gone through, such as massive repairs and minor or major accidents. Was it lady driven or used as a rental vehicle? What are the exact kilometers covered?
Thus, a car’s history report provides all the necessary details for a transparent secondhand buying experience.
While most used car dealers have this report available for their customers to go through and finalize, private sellers might not have it. So, you also need to prepare a quick checklist related to technical specifications.
Mistake #3: Not considering fuel efficiency
Ignoring fuel consumption is another common mistake buyers make when searching for pre-owned cars.
Ask yourself, would you go with a low mileage returning SUV that will burn a hole in your pocket every day or a good fuel-efficient vehicle such as a hatchback like the Nissan Murano to meet your primary purpose of having a car?
The choice is yours!
Whatever you do, don’t overlook the vehicle’s mileage rating when fuel prices are soaring. Additionally, with used cars, we can expect frequent repairs and regular maintenance compared to brand new ones.
So, in a nutshell, opting for fuel-efficient economic car models is better to have an overall economical car ownership experience.
Mistake #4 Skipping a full inspection
Because we know a little about the car just by having a quick glance, never finalize the deal without conducting a full professional inspection. It is advised to have a qualified mechanic look for the fluid leaks as well as the engine check-up.
At the same time, the mechanic will analyze the brake pads, and tires, and say, if replacements are needed in the near future.
Before you fret over a few dollars that you’ll be spending on this service, remember that you can use their advice to your advantage in negotiating the price down. So, it's always worth the money.
Mistake #5 Not taking a test drive
Are you surprised to see this on the list? Whether you are considering a secondhand car or a brand new one, get in the car and drive it before you ink the deal.
It will tell you a lot whether or not, it's the right car for you.
Settle into the driver’s seat and have a look around before you turn on the ignition, check how visibility is via the rear windscreen? How’s the interiors feel like? Next, does the car give a satisfying clunk? Are there any rattles?
Test drive will help you make the final call based on the overall performance.
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