Many of us do it – watch as cars fly by us on the highway and wish we could upgrade. If you’ve been thinking about trading in that old car, are tired of constant repairs and breakdowns, use these used car buying tips to get the most bang for your buck!
Tip #1: You’ve likely heard it before: the second a new car drives off the lot, it depreciates in value. This is true and is one of the valid reasons many people opt for a good used car rather than a brand new one.
Here are some used car buying tips from the pros to help you protect yourself in your search:
- Make sure a guarantee is offered by the dealership. Many dealerships will offer deals, but often these deals just cover you until you drive off the lot. Look for a mechanical warranty that covers you under normal usage to ensure that you are covered for any initial unforeseen issues.
- Check out the vehicle’s car history report. This is a report that covers a great deal about the vehicle, including past owners, previous repairs, any accidents or liens. This report ensures that you are aware of where the car has been.
- Try to stick with cars with lower kilometres – this will ensure that that car is going to last as long as possible. A car may be a steal at a low rate, but if it is sitting at 300,000 kms, you may have to head back out sooner rather than later (and you are not going to avoid those irritating repairs for long either).
- Make sure that the dealership offers safety and certification testing – if they don’t, move on. If, however, the dealership offers more stringent testing than the Ontario standard requirements, this is even better – this means the car has been rigorously tested and will last far longer – there is nothing to hide.
- Don’t settle for the first car you test drive. Do your research and look around – make sure that you are comparing prices, warranties, guarantees, etc. – this is the best way to protect yourself.
Want to start car hunting but worried that your credit may not stand up to the task? Don’t worry. At Prudent, we offer used car loans to individuals with bruised credit – even undischarged bankrupts. Everyone deserves a chance to upgrade their vehicle, and we give you that chance.
For more used car buying tips from the pros, or to find out if you qualify for a used car loan at a great rate, please contact Prudent today at 1.888.852.7647.