Are you in the market for a good used car? In today's economy, many people are opting to purchase a newer used car instead of a new vehicle. Considering that you lose almost 25% of a new vehicle's value as soon as you drive it off the car lot, choosing to look for used cars for sale makes a lot of sense. It used to be that you would have to travel around to used car lots and dicker with the aggressive salesperson over price, but today with great online buying tools, you can find out a car's true value before you ever get to the dealer.
Depending upon your budget, you can set parameters for your search such as used cars under 1000. It can also be a good idea to widen your search beyond used car dealers by going online and searching for used cars for sale by owner in your local area. If you are willing to travel, you can often find your car for a better price. Before you start your search, take some time to research the type of car you want and how much you can afford.
While many of us would love to ride around in a sporty convertible, most of us cannot. One of the first things you need to do when you are searching for a used car is to determine just how much you can afford to spend. If you will be taking out a loan, your car payment should not be more than 20% of your monthly net income. You will want to focus your search for used cars in the price range and if things are tight, look for really cheap used cars. Just be sure to get a mechanic to go over any used car you are considering purchasing.
It is also a good idea to create a list of the used cars you like in the price range you can afford. Then you can use the online car buying and value tools to determine what you should be paying for those types of vehicles. This can provide you some leverage as you negotiate the price of the car. Even if you love a certain brand, keep your options open and consider several brands and makes of cars. This will give you more options when it comes to pricing.
When it comes to pricing, often the price of a certain vehicle will be determined by the area. Certain vehicles will bring higher prices in one area than another. Begin by checking prices in the used car section of the newspaper or in an online auto buyers guide for your area. You can also check used car retailers and dealerships.
Visit several places and make a list of the vehicles you like and can afford. Then get a vehicle history report on the vehicles. The owner should be willing to provide one, but if not, get one yourself. This is essential to ensuring the vehicle was not in an accident or a flood. Test drive the cars you like and then negotiate a sales price with the owner. Follow these tips and you can find a good used car for a reasonable price.