Buying a previously owned vehicle can be a great way to save on one of the most expensive purchases, but only if you do it right. Don’t get caught up in the excitement of your car purchase and end up with someone else’s headache. The cost of used cars have gone up over the last few years. We have put together a list of the steps recommended to buying a pre-owned vehicle in the Miami – Fort Lauderdale area.
1 Get Pre-approved and set a budget.
Getting preapproved for any loan is very important, especially one for a used car. Walking into a dealership with a preapproval will help you not only stick to your budget, but it also lets the dealer know you’re serious about buying a car. It is important to remember to stick to the budget you have set for yourself and not get carried away.
Thinking of paying for the used car in cash ? Just because that sounds like a good idea doesn’t mean it is always the best strategy. Spending the bulk of your savings on the vehicle itself can eliminate the financial flexibility to pay for car insurance, any deductibles. It is recommended to consider a low interest rate from your local community bank or credit union as this eliminates or reduces your financial liability.
2 Do the research yourself.
It’s recommended to use national on-line sites such as www.Cargurus.com and/or www.autotrader.com for reliable used vehicle values. Be careful to look out for vehicles with accidents, that have flood-damage or have higher mileage, as they can lower the value of your vehicle after purchase.
Most franchised new car dealers have a wide selection of used vehicles on site. Many of those vehicles are Certified Pre-Owned and come with an extended factory warranty, which is great option for consumers choosing to purchase a used vehicle.
3 Research the dealer.
There is a huge number of reputable dealers with a wide variety of new and used cars for sale in the Miami and Fort Lauderdale area. Be sure to do a quick little search on google to find out what other car buyers are saying about the specific dealership that you are looking to purchase a vehicle from. This usually tells you a little bit about how they treat the consumer a what kind of claims they live to.
4 Get a vehicle history report.
Once you have zoned in a car make and model that you like and think you have found the one, it is highly recommended to ask for or buy a carfax or an autocheck report. The car report can reveal if the vehicle you are purchasing has been in any accidents or flood damage. This also can help you determine if the miles shown on the odometer are accurate.
5 Test Drive the car.
Test driving a car is one of the most important steps of purchasing. it allows you to get a feel of how the car handles and if it has any defects.
Be on the lookout for any creaks or weird noises and check if the electronics are properly functioning.
6 Get a pre-purchase inspection.
Hiring a mechanic or an inspector is the last step to making sure the vehicle you are buying is in good condition. Typically an inspector from www.migoinspections.com will do a thorough 160 point inspection and will check for engine leaks, electronics, alignment, and brakes wheel condition and tires. This alleviates any uncertainties you may have and gives you extra peace of mind.
7 Make your offer.
Lastly, based on the test drive, the condition of the car and the inspection report, the last step would be to make your offer as you see fit and enjoy the ride.