Buying a used car is a great alternative to buying new because it can be much more affordable and you can get more for your money, but shopping in the used car market can also be tricky and you will need to know a few ways to find the perfect car that is within your budget. Read on to find out more.
Mileage
The mileage can have a big impact on the price of a used car, so you could look to a car with slightly higher mileage if there is a specific car that you want but might struggle to afford. Of course, the risk with this is that the car might need better taking care of, but it can be a great way to get more for your money.
Year
Similarly, the year of the car will also play a big part in how much it costs. An older model can help you to make big savings and get more for your money, but again an older car might require greater maintenance and could be a riskier purchase, so it is all about finding the right balance.
Shop Around
Much like any kind of purchase, you should always shop around and compare prices. The used car market is gigantic which means that you can usually find multiple choices of the same car and you might even be able to negotiate to bring the cost down (more on this below). You can use a vehicle search to find the used car that you’re looking for and this will be a quick and easy way to compare your options. While it might be tempting to buy from a private seller as this is often the cheapest option, keep in mind that this is a risk and you will get less consumer protection (and no finance deals).
Negotiation
You should not shy away from negotiating and this is all part of the process and could help you to make huge savings. The key is to be firm, fair and friendly in negotiations and to have a limit in mind – you must then not be afraid of walking away if you are not getting the deal that you want. There are a number of factors that can be used to bring the price down, including:
- Mileage
- Age
- Defects (scratches, dents etc.)
- Cleanliness (a dirty car could knock off a small amount, such as the cost of valeting)
These tips should help you to find a great car that is within your budget in the used car market. Buying used makes a lot of financial sense, but even in this market it is still a lot of money to spend and you will want to get the most out of your money.
