Everybody knows the basics when it comes to buying a car, but it’s important to keep in mind that when you buy a used car, there are some differences. When you buy a new car, you are typically getting the whole package – it’s easier to know how much things cost when it’s all standard. However, when you buy a used car, the price varies dramatically depending on what the previous owner had installed.
Here are a few things to be aware of before buying:
– As a general rule of thumb, cars tend to depreciate in value by 20% annually; therefore, if you can afford to purchase higher quality used cars in tempe on one or two-year-old models (instead of three or four), that will save you money in depreciation and insure your vehicle is less likely to be involved in accidents – both important factors when looking for your dream vehicle.
– Knowing how much things will cost can be hard when buying a used car; don’t be afraid to have a mechanic go over the vehicle before you buy. Also, if you end up buying a car with high mileage, have the engine checked for possible knocks and other damages (basically, there are a lot of things that come with an older car that need to be checked out).
– Be sure to check the title of the vehicle – either directly through your local DMV or by purchasing a CarFax report. This can tell you if it’s been stolen, salvaged or has had other damage done to it in an accident. This can be one of the most important things to check if you are buying a used car to ensure you don’t end up with something that could cost you thousands in repairs.
– Also, be sure to check the history of damage on the specific make and model of the vehicle as well as if it’s ever been recalled for safety issues. If a car has been recalled or had major damage, it’s often reflected in the price you’ll pay for it; however, things can easily get overlooked, so checking this information is essential before buying a used car.
– It’s also useful to get an estimate from your insurance company on how much your insurance will cost before committing to purchasing a used car (it varies depending on what you drive).