What Your Options are When Buying a Used Car

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If you are looking to buy a used car or truck you might be interested to know that you have several options. New vehicles can tend to be extremely expensive and you really are paying for the fact that no one has driven them before. Even having a few miles on the vehicle brings the price down considerably without taking away from the quality of the vehicle. New cars also tend to have higher interest rates and require purchasing full coverage auto insurance at the time of purchase. All of these factors combined make for a lot of money spent each month so pre-owned vehicles really are where it’s at for the majority of us common folk. Here are a few options you have when purchasing a used car:

Buy Private
There are websites available such as Craig’s List and even Facebook where you can look for used cars for sale in your area. If you are not picky about the type of car that you want or the condition that it is in, then this might be a good option for you. Especially if you have a very limited budget. These cars will be for sale by owner and offer a range of pros and cons. Let’s consider a few of these:

Pros of Buying Privately

  1. The price will be lower than buying at a used car dealership.
  2. The price can be negotiable at times, depending on the seller.
  3. You don’t have to worry about a car salesman trying to convince you to buy more stuff or spend more money.
  4. The buying process is quick and easy.

Cons of Buying Privately

  1. You don’t really know what the car has been through.
  2. You have to rely on the seller’s word for any work that has been done and how the car has been taken care of.
  3. You can’t take it back if an issue occurs soon after purchasing the vehicle. It’s your problem now and you have to figure it out.

Buy Through a Used Car Dealership
This is your other option. Many new and used car dealerships will offer a range of excellent used vehicles for sale. If you have a more flexible budget and are more concerned about the condition of the car, then this will be the option that would better benefit you. However, as always, there are pros and cons:

Pros of Buying at a Dealership

  1. The car will come with a guarantee and warranty.
  2. You don’t have to pay it all at once. You could offer a down payment and then pay monthly installments.
  3. You will have documentation of how the car has been taken care of.
  4. The care of the car will be at a higher quality than when buying private.

Cons of Buying at a Dealership

  1. The price is typically non negotiable although there may be slight wiggle room.
  2. You will have to pay fees, taxes and interest if you are going to make payments.
  3. Making payments means you are required to purchase insurance of their choice.
  4. You may be required to purchase certain amenities in order to get the car you want.

Consider Certified Pre-Owned Vehicles
Certified pre-owned vehicles are a good choice when considering buying a car. You can get them privately but typically you would need to purchase through a dealership. Not very many privately owned vehicles will be certified. Even if they are, you may be suspicious of the process under which they were certified. Assuming that the car is being looked at on a lot, here are the pros and cons:

Pros of Buying Certified Pre-Owned Vehicles

  1. These are typically newer cars, about five years old and newer or have less than 80,000 miles.
  2. They have been inspected, refurbished if necessary and certified
  3. They usually include warranty and other benefits

Cons of Buying Certified Pre-Owned Vehicles

  1. They do cost more than a non certified used car would.
  2. Refurbishment may be necessary because of an accident that the car was involved in.
  3. It’s not always that manufacturer that does the certifying, at times it can be the selling dealer or a third party inspector.

Buying a used car entails so many more options that you might have originally thought. Make sure that you do your research before looking into any specific cars. You never want to be caught off guard when it comes to purchasing a car.

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