Buying a Used Car? Proceed with Caution

Many people feel that buying a used car is a wise investment. Although they might miss that new car smell, they find that they can often get better value for money than buying basically the same car brand-new from a dealer. Statistics show that they are basically correct. Most brand-new cars lose anywhere from 15 to 30% of their value within the first few months. Therefore, if one can get a reasonably late model car, with low miles and that has been well taken care of, they are basically getting an excellent car at a considerable discount.

If you choose to review the best car loans online here, you can save yourself a lot of money

Used car dealers seem to have a bad reputation not only in the UK but in most parts of the world. Most people seem to feel that this is a well-deserved reputation, based on their own personal buying experiences. The poor used-car dealer is only trying to make a living, and obviously maximize their profit, which is natural for any businessman. New car dealers have only a slightly better reputation, perhaps because their cars are new, and often the car dealerships themselves are shinier and more attractive and possibly even run a little more professionally. 

Saving Money Is Key

Nobody likes wasting money. That is why buying used cars is a very popular approach to getting a vehicle. But actually buying the car for the lowest amount of money is only part of the equation. Another major component of owning a car is the car insurance itself. There are a wide variety of offerings, often targeted to specific age and gender groups. For the average consumer, it can be awfully challenging trying to figure out what is the most advantageous offer that they can get. The good news is that they can review the best car loans online here and compare rates and other options which will save them money.

The Best Approach to Buying a Used Car

It has been widely recognized that used car dealers don't always have the best reputation. In 2008 alone, almost 50,000 people lodged formal complaints against used car dealers. Yet, they often offer the best protection for buying a used car. That is because the Sale of Goods Act of 1979 offers you, as the consumer, certain rights to receive a car of a basic, decent quality.

Avoid Problems from the Start

It is fairly logical that when buying a used car, you should have a fairly good idea of its condition before putting any money down. For this, you should not only take the car for a thorough test drive, so that you can notice any potential defects in how it drives and also how comfortable you are with it. A thorough visual inspection of the interior can reveal any latent defects, such as stains or burn marks in the upholstery. If you have a friend who is a mechanic, or better yet, a friendly mechanic, they might be amenable to going with you to check the basic components of the engine and transmission to ensure that you can expect to get reliable performance from the car itself.

 Image attributed to Images_of_Money

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