August 21, 2023
THE SMART BUYER'S GUIDE TO PURCHASING A USED CAR
Start Your Journey In Style By Financing Your Used Car With Us
BUYING A USED VEHICLE?
Are you in the market for a new set of wheels? Buying a used vehicle can
be a fantastic way to save money while still driving a reliable and stylish
car or truck. However, it’s important to approach the process with careful
consideration to avoid potential pitfalls. Here’s an all-encompassing guide
that ensures your used car buying experience is nothing short of
exceptional.
RESEARCH IS KEY:
Before you set foot on any car lot or start browsing online listings, do your
homework. There are several resources available that provide estimates of
a used vehicle’s market value, including reputable websites like Edmunds,
Kelley Blue Book, and the National Auto Dealers Association. Be sure to
compare prices for several comparable vehicles, not just one specific year,
make, and model. This will help you gauge whether a particular deal is a
steal or a potential red flag.
INSPECT AND
INVESTIGATE:
Never underestimate the power of a test
drive and a thorough inspection. Always
take the time to test-drive a vehicle and,
more importantly, have it checked out by
a mechanic and a body shop before
making any commitments. While these
inspections might come with a small fee,
they’re worth their weight in gold as they
can potentially uncover hidden issues
that might not be obvious at first glance.
If the seller refuses a pre-sale inspection,
it’s a clear sign to walk away.
UNCOVER THE
VEHICLE’S HISTORY:
Thanks to modern technology, you can now
delve into a used vehicle’s history even
before talking to a salesperson. The Vehicle
Identification Number (VIN) is your key to
unlocking important information about the
car’s past. Online services can provide
insight into whether a vehicle has been
titled as salvage, flood-damaged, rebuilt, or
involved in an accident. While vehicle
history reports are invaluable, remember
that they aren’t substitutes for thorough
inspections. Moreover, at our credit union,
we enhance your experience by offering
access to Carfax reports at a discounted
price for our valued members.
KNOWLEDGE IS
PROTECTION:
Before signing a purchase
agreement, be aware that the
three-day right to cancel does not
apply universally. You only have
the right to cancel if the dealer
explicitly offers such a policy.
Make sure to get this in writing
before proceeding. Moreover,
dealers are obligated to disclose
whether the vehicle is being sold
“as is” or with a warranty. Pay
close attention to buyer’s guides
posted in every vehicle for sale.
PUT PROMISES IN
WRITING:
When negotiating with the seller,
always seek written
documentation for any promises
made. This applies to warranties,
special offers, or any other
agreements. Verbal assurances
can be easily forgotten or denied,
so having everything in writing will
protect your interests.
“The moment you are done with your first ride in your brand
new car, it has already depreciated in value. So, why not buy a
used car, drive it until your heart’s content and relish in the
value of its savings”
BE WARY OF TOO-GOOD-TO-BE-TRUE
OFFERS
Stay cautious when encountering offers that seem too good to be true.
While a significantly lower price might be tempting, inquire about potential
hidden costs or issues that could explain the steep discount.
NEGOTIATE AND TALK TO AN
EXPERT:
Don’t hesitate to negotiate with sellers. Whether you’re a seasoned
haggler or not, remember the old saying, “if you don’t ask, you won’t get.”
Approach the process with confidence, as most sellers are open to
discussion and consideration. Additionally, bring a qualified mechanic or
car expert along to assess the vehicle’s condition. Their expertise will help
you make a well-informed decision.
RESEARCH THE SELLER:
The power of the internet extends to researching sellers as well. Before
making a physical visit, conduct thorough research on the seller’s
reputation and reviews on online platforms. Consistent issues or a lack of
respect for customers should raise caution flags.
OUR CREDIT UNION’S COMMITMENT:
At Journey Credit Union, we’re dedicated to making your used car
purchase a seamless experience. Our tailored loan solutions cover
vehicles of all years, makes, and models. Whether it’s a classic car or a
reliable daily driver, we offer competitive rates, ensuring you’re
getting an excellent deal. From negotiation to financing, we’re with
you every step of the way.
By embracing these comprehensive tips, you can confidently navigate the used car market and make a decision that aligns with your needs, preferences, and budget. Here’s to a successful used car buying journey!
By embracing these comprehensive tips, you can confidently navigate the used car market and make a decision that aligns with your needs, preferences, and budget. Here’s to a successful used car buying journey!
