Have you been thinking about purchasing a new vehicle lately? Have you considered looking to buying a used car instead? While used cars may not be as fresh and exciting as a new car, they still function just as well and offer superior value. If you’ve been wondering how to buy a used car online, from a dealer, or a private party, we’ll tell you how!
Used vs. New Cars
When it comes to buying a car, many potential buyers are often swayed by the glamour of a brand new car. While new cars do feel wonderful, they’re far more expensive than a used car, and they’ll lose a lot of their value the moment you drive off the lot.
There is a common misconception that new cars always perform better than used cars. While this may be the case in many situations, if a used car is properly cared for and is a good make/model, then it can perform just as well as a used car.
In fact, one problem with new cars is that their design has far less testing and road experience than used cars. Sometimes new cars are severely defective, which results in vehicle recalls. This doesn’t always happen, but it is hard to argue which car is more reliable when you’re deciding between a brand new car and a 10-year old used one that has never had an issue.
Buying a Used Car
Figuring out where to buy a used car can be a difficult task in itself. One thing to consider is that the selection of used vehicles you can choose from is limited to the general surrounding area of wherever you are located.
At the same time, the cars you’ll find for sale right now are the only ones available at the current time, which does mean that there could be one you’d like even better a month from now. This means that unless you absolutely need a car, you shouldn’t settle with one just because it seems like the best option at the time.
Private Party
If you’re wondering how to buy a used car from a private party, then you’ll want to understand that this entails dealing with a vehicle owner directly. This is a great way of getting a better personal understanding for the vehicle, being able to meet and learn from the person who drove the car before you.
Here are a few things you’ll want to do when buying a used car from a private party:
- Use Caution - Although a private seller does eliminate the restrictive structure of a dealership, it also means that you have no idea who you’re dealing with. A private seller could be a church pastor, or it could also be a former convict. This doesn’t mean you should be terrified of dealing with private parties, but consider going with a friend and don’t meet in questionable areas.
- Research Beforehand - One of the biggest mistakes you can make with buying any used car is failing to do research. When you already know what car you’re going to look at, you have all the information you need to do research to understand the value of the car. Not only that, but you can also discover common issues the car has, so you’ll know what to look for when you do test drive the vehicle.
- Ask for Records - An advantage of dealing with a private seller is they’ll typically be more likely to have service records. Unlike used car dealerships, private sellers are often the original vehicle owner. This means that they would be the person to have the vehicle serviced, meaning they would have verifiable service records to show the car was well maintained.
Dealer
How does buying a used car from a dealer work? It definitely varies between dealerships, but there is a fairly routine process you’ll go through. There are few things you should be aware of when purchasing from a dealership, most notably the price and financing options.
While a private seller is probably more likely to give you a better deal, dealerships have the ability to offer you financing choices. Instead of paying a lump sum of cash right away, you can pay a smaller amount now and make monthly payments to make it more manageable. This is a great choice for some people, but if you’re in the used car market, you’re probably looking at something to purchase outright.
Here’s a few important aspects to buying from a dealer:
- Price Point - A downside to looking to buy from a dealer is the sale price they’ll offer you. Most often, the dealer acquired the car by purchasing it from someone else. This came at a significant cost, which they’ll need to recoup in a potential sale to you. This means that there is a bare minimum they can sell the car for, making it much harder for you to get a fair price.
- Payment Method - One thing that is definitely beneficial about buying from a dealer is the option of using financing. Not everyone has the flexibility of paying cash right away, so the option of paying over time allows more people access to vehicles. If you’re wondering how to buy a used car from a dealer with cash, you absolutely have the option to do so. Most dealers actually prefer you to use financing though, because they’ll earn a portion of loan for themselves, netting them more on the sale overall.
- Dealer Reputation - When choosing to buy from a dealer, you must take their reputation into consideration. Used car dealerships in particular tend to have a bad reputation for being a bit dishonest with their selling tactics, but there are certainly honest dealers out there that can offer you a good deal. Your best bet is to research the dealer online beforehand and see what type of experience other people have had with them.
Online
Another popular option for buying a used car is sourcing it online. If you want to go down this route, you can search for buying used cars websites. If you want an excellent resource on how to buy a used car, reddit often has fresh and relevant information from real people that have firsthand experience.
The great thing about looking online is that you have access to far more cars than just the area surrounding you. Here are some other things to know about buying a used car online:
- No Testing - One significant downfall of the internet is that you can’t physically touch or inspect the vehicle. All you can see are photos and information provided by a seller, but you have no real way of verifying it. You have no way of knowing if the car actually works or not, meaning you’re taking a real gamble.
- Options & Flexibility - A nice thing about buying online is how much flexibility you have. When purchasing from a website, you can often select different choices and filters to find specific cars you’re looking for. While this is a nice feature, this doesn’t always mean you’ll find the exact vehicle you want.
- Scam Potential - The biggest concern with buying online is that massive potential for scamming. While it might seem difficult to get away with, it creates a major hassle for you if you receive a car that doesn’t work. The anonymity of the internet creates a breeding ground for scams, meaning you’ll need to be hyper vigilant of anything that sounds too good to be true.
Used Car Buying Tips and Tricks
No matter where or how you decide to buy a used car from, there is some general advice you can follow to ensure you make an excellent decision. Here are some useful tips and and tricks for buying a used car:
- Use Cash - While it is true that dealers prefer you use cash, the universally-best method of paying for a car is to use cash. This is because it comes with no strings attached. Once you hand off the cash, your obligation is complete and you now own the car. Don’t get caught up in financing and end up paying more in the long run! If a dealer is pressuring you, it isn’t worth it!
- Do Research - Don’t forget to learn more about the vehicle you want to buy! This includes both general things about that make and model, but also more specific things about that individual vehicle. For example, when buying a used car, mileage is a huge factor in determining value. That mileage amount will vary between vehicles, so you’ll want to understand the threshold for that specific car.
- Second Opinion - Even if you test drive a vehicle yourself, you can’t be entirely certain that everything is good to go with the car. Perhaps the car has a significant issue that coincidentally didn’t occur when you drove it. Before you buy a car, get a second opinion, preferably from a mechanic. Get an experience pair of eyes to look at the car and tell you whether or not you’re making a good choice.
- Don’t Rush - Although the prospect of driving a different car can be quite exciting, vehicles are very expensive, which makes them a long-term investment. While you might initially be thrilled, you’ll quickly turn sour if it you purchased a troublesome vehicle. This means you’ll want to take your time when looking at cars, and make sure you’re absolutely certain about whatever vehicle you choose. Don’t be pressured by a dealer trying to make a sale!