What Everyone Should Know about Buying a Used Car |
Posted: January 24, 2019 |
Some of the things everyone should know about buying a used car are how mechanically sound it is, how good is it on gas, and how much will it cost you to insure it. Most of all, prepare and compare. Realize too that when buying from a private seller or a dealer, people will hide problems to unload the car. Let's be honest. All of us have heard horror stories of people buying lemons, cars with many mechanical problems. An unscrupulous private seller whose car was in an accident and has a bent frame is not going to advertise it. Likewise, the dealer who gets stuck with a trade-in that has a problem overheating, will likely conceal that fact rather than dumping more money into it than they can get out. Used car buyers usually assume they can tell if a car has mechanical problems by taking it on a test drive. Whereas it is a good idea to conduct a test drive to see how the car suits you, your next step should be to have a trusted mechanic check it out. Too many people see a picture of a used car in the paper or online and fall in love with it. Then, regardless of the indicators, buy a car that might not be right for them financially or mechanically just because it's the candy apple red they've always wanted. Keep in mind that USA Today says the average used car price nationwide is $20,084, but you should choose a car that is within your budget, to buy, finance if necessary, insure, and maintain. Maintenance ExpensesChecking the average miles per gallon for the used car you are buying is a good indicator for comparison, though those number will not necessarily match what you will actually get. Everyone knows or assumes that a huge SUV will get fewer mpg than an economy car, comparing makes and models will give you a better indication. Gas will likely be one of the most expensive costs associated with using your car. Although gas mileage should be a primary consideration, the overall price of maintenance should concern you as well. How available are replacement parts? And, how soon can you get those when necessary? In some cases when buying a foreign-made car, other than the very popular brands like Nissan, Mercedes, BMW, Hyundai, and Honda, it might be cheaper, in the long run, to buy another car of the same make and model year for parts. Let's take a Mercedes for example, even when you get an excellent deal on a used one, you will still need to take it to the dealer for regular tune-ups and maintenance. Then, you take to the dealer to replace the wiper blades and it costs $400. Of course, you would have no idea that you should ask how much new wiper blades would cost. You think maybe $25 to $50, right? These are things you should consider before you buy.
Auto InsuranceSpeaking of red sports cars, you might think it will be difficult to get cheap auto insurance for that red sports car. However, there are several risk factors insurance companies consider when determining the price of auto insurance. The car's color is only a minor factor. The minimum required insurance coverage in your state. The most significant factor is age, 18 to 24-year-old males pay more than anyone else. Although different insurance companies in different localities might differ, generally at age 25 your auto insurance will decrease and continue to decline a little every four or five years until about age 55. Which, brings us to the second factor, gender. Males pay more than females. Other risk categories include:
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