Buying a Used Car with Car Smarts
if you're looking to buy a used car
you're not alone whether a private party website app or even a dealership
nearly 41 million used vehicles were sold last year
and that's a lot of vehicles and there are ways to get the smartest deal Welcome back to the channel I'm Lauren
Fix the used car market is really high right now and there are so
many choices finding that one right car for you could
be a bit of a challenge here are some tips and steps to help you
find the best vehicle get the best price and
make sure it's the perfect vehicle for you
with car smarts if this is your first time to the channel we
give you more than car reviews first looks at new vehicles
we give you car smarts because knowledge is power
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how much car can you afford the first rule of thumb
if you're taking out a loan to pay for your vehicle your car payment should not
be more than 20 of your take-home pay and if you're
sticking to that super tight budget you may want to spend even less used
cars need maintenance like tires and oil
changes and other fluid changes in components
and then there are the other ownership costs that people forget
because they're part of your budget such as fuel
and insurance if the car you're planning to buy is out of warranty
it might be a good idea to set aside a just
in case fund to cover any unexpected repairs
purchase an extended warranty to protect against those
unexpected large expenses because according to a recent study by
aaa the average auto repair bill is between
five and six hundred dollars and one in three motorists
can't afford to pay for it or incur that debt check
out carwarrantyguru.com to get the best warranty company
build a target list of used vehicles so if you're looking to save money
consider more than one brand make a list of
three vehicles that meet your needs and fall within your budget
check out our car reviews we've reviewed them all to get
better insights you know what you're getting and make those right choices you
can check that out up here if you're planning to buy a vehicle that
is less than five years old consider a certified pre-owned vehicle or a cpo
it's a wise choice because there's a warranty that
backs the vehicle from the car maker or you can purchase an extended warranty
look for the dealership that sells that vehicle of that same brand
so if you're looking at a certified pre-owned nissan altima
then you would go to a nissan dealer this will get you the right vehicle
at the best price with that warranty check prices prices are driven in part
by where you're shopping look to online
places like car gurus carmax dealer websites and private party
sellers like ebay or bring a trailer private party sellers will typically
have the lower prices while certified pre-owned vehicles will
typically cost you a bit more but you get that warranty protection
check the vehicle history report it's worth the money to get a carfax or an
auto check report but this will not always tell you the
full story if the car you're looking at has a bad history it may not be reported
also if it's flood damage it may not be reported
that's when you walk away from that vehicle these reports can reveal vital
information about the car including whether the odometer has been
rolled back or if it has a salvage title which means it has been declared a total
loss by the insurance company you'll also use that car's vehicle
identification number known as a vin to get that information most major
dealers offer these reports free of charge
but if you're buying from a private seller or online you'll have to pay for
that report number five test drive the vehicle test
driving a used vehicle is the best way to know if this is the right choice for
you it's also a good way to assess the car's
condition here are some things that you absolutely need to check before making a
decision be aware of these important factors like
seating comfort and space for all rows visibility are there blind spots
can you get your car seats installed easily and safety features like backup
cameras active cruise control blind spot
detection cross traffic alert and more these safety features will lower your
insurance rate as well check out the tires is the tread wear
even or bald this is a sign of other issues and
suspension problems are the brakes squeaking is the brake
pedal spongy these are signs that there's more issues
and a big service bill coming open the hood you don't have to know a
lot about cars to see if something looks wrong
if something is leaking steaming or covered in oil
it's time to start asking questions or maybe just not buy that vehicle
does the air conditioning blow cold do the headlights and brake lights and turn
signals work if not again this is a sign the car
hasn't been maintained well and after the test drive ask the owner
or the dealer if you can see the service records
these will show you if the car has had scheduled maintenance
performed on time and if they do not have any maintenance records at all
take it to a mechanic and make sure that they check it out before you make
any dollar offers have the car inspected always have a used car checked by an ase
certified technician this pre-purchase inspection costs about
100 to 200 and can alert you to problems you may
not find on your own and save you a lot of money and failing
to do so could cost you thousands of dollars in repairs down the
road don't get caught out by buying a flood damaged car or one with
serious issues that have been masked in some way
you'll be responsible for those costs a private party seller will probably allow
you to do this with not much pushback or resistance most
dealerships will let you borrow a car for the
outside mechanic to take a look at because they want to sell you that
vehicle they want that inspection done if it's a certified pre-owned car
there's already been an inspection on it and you get the warranty
that's where you're paying more for those type of vehicles negotiating a
good deal doesn't have to be a painful experience
if you are reasonable and have done your homework on pricing you can
make a fair deal pretty quickly and easily here are some
tips to reduce the stress make an opening offer that is lower than
the maximum price but in the ballpark based on your
average price paid due to your research and your homework
explain that you've done your research and you have the facts to support your
offer remember that this is a business deal
not a flea market and everybody wants to get a fair price
get your paperwork done in advance check with your insurance carrier before
making that final offer find out what the rates are so you know what to expect
in your budget that could be the difference between
affording the vehicle and not making it to your budget very easily
get your insurance policy in place before driving away with the vehicle
that's actually illegal some people want that peace of mind that comes with
extended warranties so this is something you might want to
consider unless the car is still under the
factory warranty or it's a certified pre-owned vehicle do
your research and check out places like carwarrantyguru.com
and compare all the different rates from all the different carriers
don't forget you are also responsible for the sales tax and the licensing fees
if buying a car from an individual owner make sure the seller
properly transfers the title and the registration to you
getting a signed bill of sale is important as well
rules governing vehicle registration and licensing may vary from state to state
if possible check with your local department of motor vehicles your dmv
to make sure there is no past due registration
fees you'd be responsible for if you purchased this vehicle
now you're ready to show off your new ride enjoy the drive
don't forget to check out our new website car coach reports
in english and in spanish with some new contributors
get more car smarts in my book the link is down below laurenfix's guide to
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