Purchasing
a used car is similar to searching for a treasure. You may find many
used car deals in the market. However, you need to narrow down your car
shopping to the ones that will benefit you in the long run. One of the
important factors during used car hunting is the age of the vehicle.
Understanding the important factors that make or break a used car deal
will help you to figure out if you should take the plunge to buy a used
car or wait for a newer model.
Complete Break Down of Elements that Make or Break a Used Car Deal
1. Age of the Car
Over
the years of usage, cars lose value through depreciation. Your aim
should be to purchase a car with a low depreciation rate so that its
value will not depreciate significantly in the near future. But, make
sure to avoid buying a very old car because it may end up at the
mechanic's shop more frequently. Most lenders avoid financing a used car
that's older than nine years because as the years increase, the cost of
maintenance also rises. So, it is wise to choose a used car but do not
go for a very old one.
2. Odometer Reading
The
mileage is a maker or breaker when purchasing a used vehicle. The car's
average miles driven per year is 12,000 approximately. Usually, lenders
prefer a used car to be driven below 100,000 miles. In the case that
the car that you wish to buy has been driven for more miles according to
the odometer, it is wise to further inquire and seek more details. Ask
if the car was regularly maintained while the car was driven the extra
miles. However, if the car is in good condition, well maintained and the
mileage is a little above average, you should purchase the used car
without any worry.
3. No Modifications
Ensure
that the used car that you have narrowed down to purchase is not
modified in any manner. Any modification performed on the used car can
compromise the performance of the vehicle. For instance, if the engine
is modified by the previous owner and if it strains the car, it may
break down sooner than expected. Usually, modifications do not carry any
warranties and the parts cannot be replaced. Therefore, make sure you
raise proper questions about modifications before you agree upon the
auto deal.
Buy a Used Car but with Caution
Purchasing
a used car is light on the pocket as compared to a new car. Make sure
that you get the used car checked by a mechanic before making the
purchase. You can also use the Vehicle Identification Number to receive
an instant report on the make, model and year of manufacture of the car.
A vehicle report will also give a true picture of the current condition
of the vehicle. On the basis of the information, you can decide whether
to purchase the used car or shop for another one. Therefore, keep in
mind the essential details before saying yes to a used car.
Do you want to buy a used car? Do not shy away from applying for pre-approved used car loans online. Apply now to get instant bad credit auto financing. Get in touch today.
