As new cars get more expensive, the used car market is booming. It's easy to find a used car but finding the right one that's both reliable and affordable is more of a challenge. Fortunately, you can have the best of both worlds if you’re willing to do some legwork to get there. Here’s some advice on how to make a sound buying decision
Have a Realistic Budget
Setting a realistic budget for yourself is step one. If you buy more car than you can afford, you will likely regret it. Be honest with yourself and decide how much you can comfortably pay as a down payment and a monthly payment, and don’t forget to take routine maintenance and repair costs into consideration. After all, those expenses have to fit into your overall transportation budget as well.
Do Your Homework
The best way to approach this is to take the time to do the groundwork necessary to find the best and most reliable car for you and your family. A good way to start is to check with online publications such as Consumer Reports, Car & Driver, or other sites offering car reviews. These companies review sales and performance records of many different makes and models and will even rate some vehicles as best buys.
Shop Online and In Person
Once you’ve done the research and you’ve come up with one or more models you’re interested in, you need to find out if they’ll fit into your budget. Check around websites or car lots to find out what these cars are selling for and compare prices at dealerships with offers from private individuals.
Get the Best Deal on Financing
Explore different financing options by checking rates at your local bank or credit union and compare these to what the dealership may offer. If possible, get financing pre-approved. If you’re pre-approved, you have a good idea of loan terms including interest rates, length of the loan, and the monthly payments. Also, being preapproved may help you in your negotiations with the seller.
Research the Car
Now that you’ve found the car that you think you want, you need to learn as much as you can about it. Companies like Carfax, AutoCheck, and others will allow you to use the VIN or the license plate number to get a vehicle history report that will show previous owners, odometer readings, maintenance records, recalls, and accident history. Reviewing the vehicle history report will help you to eliminate any cars that may have had flood damage or significant accident repairs.
Research the Seller
When purchasing a used car, whether from a dealership or an individual, it's a good idea to research the seller. For car dealers, take a look at online reviews from previous customers and check with the Better Business Bureau for information about the dealer’s reputation in the community. If there are complaints, you’ll need to see what the complaints were about, and more importantly, how the dealer handled the complaints.
When buying from an individual, be wary of a suspiciously low price. If the deal seems too good to be true, it’s usually not a good deal. If you’re buying online, be especially cautious and verify the seller’s identity and reputation. Avoid making any upfront payments until you’ve physically inspected the vehicle. Finally, make certain that the seller has a clear title to the car that he can transfer to you.
The Test Drive
Your test drive should be done solo if at all possible. Make sure that all of the interior accessories are in working order, adjust the seat and mirrors, and then drive on the roads that you usually drive on. You can turn on the radio just to make sure it works, but don’t have it on while you’re driving, as it might drown out a noise that you need to hear. Be aware of everything-vibrations, noises, interior stains, or bad paint.
Think About Purchasing a Certified Pre-Owned Car
A certified pre-owned car is a used car that comes with a factory warranty. Typically, these are lease returns, fleet cars, or low mileage trade-ins, and they’ve had a rigorous going over by a factory trained mechanic. These cars are only available at dealerships that carry that brand. For example, you will only find a certified pre-owned Lincoln at a Lincoln dealership. A certified used car will likely have a higher price than one that’s not certified, but they come with warranty coverage and extras, such as roadside assistance during the warranty period.
Final Thoughts
While all of this may sound like a lot of work, the end result of your diligence in finding the right car will pay off for years to come. Carefully consider all of your options, take your time, and you’ll make the right decision.
State Motors Lincoln has been catering to customers in the Manchester area for over a century. Founded in 1919, we are a family owned and operated dealership with a wide range of new and used vehicles available. Our reputation for outstanding customer service has allowed us to become a reliable choice for many vehicle buyers. In addition, we have earned a number of prestigious awards, including the coveted President’s Award from the Lincoln Motor Company, presented only to the top 5% of Lincoln dealers in the country. Whether you’re looking for a brand new Lincoln or a pre-owned gem, our knowledgeable sales team is ready to assist you in finding the perfect vehicle to suit your needs.
In addition to our impressive inventory, we provide top-notch service to ensure that your vehicle stays in excellent condition. Our certified factory trained service technicians possess the expertise to handle all of your vehicle’s maintenance and repair needs.
For more information about State Motors Lincoln and our offerings, contact us via our website or reach out to us directly. Better yet, stop by and see us. We’d love to meet you!