One of the best ways to save money when looking to purchase a new car is to consider a pre-owned vehicle instead of a new one. It’s a known fact that cars lose a high amount of value from the moment it leaves the dealership floor, and instead of taking on this depreciation yourself, you can pay far less for a used vehicle. However, there are a few things to consider, such as potential maintenance costs and expensive financing. Here are a few helpful tips to look for while you shop around for a pre-owned car.
Weigh age against price
There are a variety of factors when shortlisting pre-owned vehicles. An older car will usually offer more features at a lower price, while the kilometres might typically be higher than that of a newer model.
Get an independent mechanic to have a look
While it might cost you a bit of money to have your own vehicle inspection done, you could save massive potential mechanical repair costs. A mechanic could also highlight a few concerns about the car that could aid your price negotiations.
Consider a certified pre-owned vehicle
If you want the certainty of warranty coverage, certified pre-owned vehicles offer affordability and manufacturer warranty coverage. These vehicles are usually only a few years old with service records in place and no accident histories.
Do your homework
Run a vehicle history report on the Vehicle Identification Number (VIN) once you’ve identified a car that you might want to buy. The history report will indicate whether the car has been in any accidents or whether there has been significant damage to the vehicle.
Have questions ready for the seller
Ask the seller for proof of the vehicle being properly maintained, and try to get an estimated idea of how much previous services cost including future major services. If you find any problems with the car during the test drive, ask the seller whether they would be willing to have the car fixed or whether they would consider selling at a lower price.