Used Car Buyers Guide

Buying a used car can turn out to be the greatest car deal you can make. This used car buyers' guide will clear out some of the uncertainties and problems related to the used car buying and help you get the best used car deal possible.

1. Build a list of used cars to consider.

   You should clearly distinguish your needs from your wants and include in your list cars that fit your needs in terms of reliability, safety, comfort and value.

   Many people have in mind a particular car model even before they have started the car buying process but you should ask yourself whether the car you have in mind really fits your budget and driving needs. If it doesn't, just exclude it from your list; your budget will be grateful to you.

2. Estimate how much you can afford.

   Smart car buyers consider car financing before the particular car model. Assess how much car you can afford based on the following factors:

   • Monthly payment - how much can you afford to allocate each month?
   • Down payment - how much cash are you able and willing to put down?
   • Total purchase price of the car - include the above two factors in your calculations, as well as any additional fees you will be charged, and you will be able to determine a price range for your used car.

3. Investigate your car financing options before you shop for a car.

   If you can finance your used car purchase in cash, then you don't have any worries at this step.

   If you, however, need to borrow money in order to buy your used car, then you have a little more work to do. Shop around for the best rates you can get. Compare the terms offered by the different car financing sources, such as credit unions, banks, online lenders, and financing through the dealer.

4. Locate your target car.

   You have three options to buy a used car from:

   • Buying your used car from a private party.
   • Buying your used car at a new car dealership.
   • Buying your used car from used car lots.

5. Test-drive your chosen used car.

   Always carefully inspect your chosen used car's condition before you buy it.

   You can facilitate your work if you buy a certified used car; such cars have been previously inspected and are backed by a manufacturer's warranty that they are in good running order. This means that if anything happens to your car within the warranty period, it will be fixed for free.

   If you have any doubts about the car's condition, you should take it to a mechanic.

   Finally, on the test drive you should try to simulate your normal driving patterns to make sure that the car will behave properly under your regular driving conditions.

6. Negotiate the used car price.

   If you want to negotiate the best price for your used car you should always start the negotiations prepared and know the numbers. Let the other party know you have cash in hand but be ready to walk if you don't like the deal you are offered.

The information and interactive car payment calculators that are provided on this site are made available as general assistant guidance in regards to car loans and payments. We do not guarantee that any information or calculations will be accurate or applicable to your personal financial situation, circumstances, or objectives. Accordingly, before making any final decisions we encourage you to consult a qualified professional and get personalized advice.

Related terms: used auto buyers guide, used car buying guide, consumer reports used car buyers guide checklist, guide to buying a used car, second hand car buyers guide, car loan calculator, auto loan calculator