Arrange Financing
The ideal first step to buying a new car is to arrange financing in advance with a credit union. This is because credit unions usually beat the offers given by banks or car dealerships. Their loans are typically 1.5 points below that of a bank and 2.5 points below that of dealerships.
Check Reliability
Check Consumer Reports and its Annual Auto Issue to understand the reliability levels of the car you are thinking of buying. It also presents reliability ratings by compiling reports about 17 common issues in more than a million vehicles on the road. The top car picks are listed as per different budgets, so you should be able to find a car easily.
Research Used Vehicle Market Values
After checking reliability levels, it’s time to research their value. Sites like Edmunds, KBB, or NADA are trustworthy sources of getting a feel for the correct price of a used car. Pay attention to the make and model, the model year, and the maximum mileage.
Shop Online
Check sites that list and sell used cars. Some allow you to search for cars according to make, model, and your zip code so you can find something nearby. Sites like these really simplify the used car buying process. If you’re getting quotes from traditional car dealerships, be direct and ask them if the quote includes all their made-up fees.
Run The VIN
Once you find a car you like, run its VIN through a free VIN check tool so you can find out if it’s been in a flood or an accident. Check the National Insurance Crime Bureau, VehicleHistory, and iSeeCars.
Independent Inspection
Hire a trusted professional ASE-certified mechanic to check out the car and ask for a written report about every single thing that was inspected.
Complete The Deal
Once you’re ready to close on a car, check all details andAi be prepared to walk away if there are surprises. Check the financing and ensure that it’s finalized. Remember the best warranty is the manufacturer’s warranty and not a third-party warranty. These steps should help minimize the used-car buying risk.
