SKIP TO MAIN CONTENT

Financial Calculators and Articles - Tips on Used Car Buying

As of 6-14-25

By following these tips, you can make a more informed decision and hopefully find a used car that meets your needs and budget. Happy car hunting!

Research

  1. Determine Your Budget: Know how much you can afford, including the purchase price, taxes, registration, insurance, and maintenance.
  2. Identify Your Needs: Consider what you need in a vehicle – size, fuel efficiency, reliability, features, etc.
  3. Do Your Homework: Research different makes and models that fit your criteria. Use websites like Kelley Blue Book, Edmunds, or Consumer Reports to understand pricing and reliability.

Finding the Car

  1. Using Reliable Sources: Look for used cars from your credit union, reputable dealerships, certified pre-owned programs, or trusted private sellers.
  2. Check Online Listings: Use platforms like Autotrader, Cars.com, or Craigslist, but exercise caution and verify the legitimacy of the listings.
  3. Vehicle History Report: Obtain a report using the VIN from services like Carfax or AutoCheck to check for accidents, previous ownership, and title issues.

Inspection and Test Drive

  1. Inspect the Vehicle: Look for signs of damage, rust, or wear. Check the tires, brakes, lights, and other key components.
  2. Take a Test Drive: Drive the car in various conditions (highway, local roads) and pay attention to how it handles, sounds, and feels.
  3. Mechanical Inspection: Consider having a trusted mechanic inspect the car before finalizing your purchase.

Negotiation and Purchase

  1. Negotiate the Price: Use your research to negotiate a fair price. Don’t be afraid to walk away if the deal doesn't feel right.
  2. Understand the Terms: If buying from a dealer, read all paperwork carefully before signing. Ensure you understand the warranty, return policy, and any additional fees.
  3. Financing Options: If you need financing, explore options from your credit union. Compare interest rates and terms.

After Purchase

  1. Transfer Ownership: Make sure to complete all necessary paperwork to transfer the title and register the vehicle in your name.
  2. Plan for Maintenance: Set aside a budget for regular maintenance, such as oil changes, tire rotations, and any repairs that may arise.
  3. Keep Records: Maintain records of all service and repairs for future reference and resale value.

Additional Tips

  1. Stay Patient: Don’t rush into a decision. Take your time to find the right vehicle.
  2. Trust Your Instincts: If something feels off about the deal or the seller, it’s okay to walk away.
  3. Be Informed: Understand your rights as a buyer and any applicable lemon laws in your state.


« Return to "Auto Buying"
Chat with Angie