When trying to learn how to buy a used car (especially for the first time), it’s important to realize that of the process is nowhere near as difficult as it might seem on the surface – and in fact can be pretty simple and straightforward.
Obviously, there are going to be a number of different things you need to pay close attention to so that you avoid making a major blunder with one of the bigger financial decisions you’ll ever need to make – but paying close attention to this quick guide will give you all of the info you need to figure out how to buy used car without any hassle or headache whatsoever!
Let’s dive right in!
How to buy a used car – It all starts with research
Like all other major decisions you’ll end up making in your life, you need to first research the overall process and come to some early decisions before you ever think about stepping foot on a used car dealership lot.
The first thing that you’re going to need to do is determine exactly which type of used car you’re looking for in the first place. With so many different makes, models, and manufacturers producing literally hundreds of thousands of vehicles every single year (with already hundreds of thousands of used vehicles available), this is no small step but one that is necessary to take.
Are you get a go with a small sized coupe to squeeze everything drop of fuel efficiency you can?
Do you need the utility of a pickup truck for your everyday life or work?
Are you looking for a compact SUV to give you the best of both worlds?
These decisions are critical in the early stages, and really start off the process when learning how to buy a used car.
How to buy a used car – Figure out your funding
Secondly, you’re going to need to figure out your funding situation and have it resolved as early in the process as possible.
Yes, the used car dealership that you decide to purchase your vehicle from is going to be all too happy and excited at helping you figure out your funding situation after you have decided on one of their vehicles – but that’s only because they have working relationships with banks and lenders in the local area and are almost always going to be able to squeeze just a bit of extra money out of you.
When you have gone through the trouble to get preapproved for a specific loan, you’re not only locked into a set amount as far as your budget is concerned, but also get the best possible deal available as far as terms, interest rates, and overall payment conditions are considered.
How to buy a used car – Take it for a test spin
Finally, you’re going to want to ask to take the vehicle for a test spin at the very least – and may even want to request keeping the used car overnight.
Some used-car dealerships are more than comfortable allowing you to do exactly that, whereas others may not be all that excited at the prospect of you taking their automobile overnight. However, a small test drive is only going to give you a general feel for the car, whereas an overnight stay or overnight test drive will let you figure out just how perfectly fits into your day to day life (or whether or not you need to find another option).
Hopefully this quick guide has shown you how to buy a used car, and given you the confidence to get out and do so right now!