Whether your new car is brand new or just new to you – trading in an old vehicle for something different is an exciting time. But, it can also be a bit overwhelming. Here are a few things our car buying experts suggest you think about before committing to a “new” used ride.
1. What vehicles are you considering?
You should think hard about what kind of vehicle will fit into your lifestyle. Are you a stay-at-home mom who needs something spacious with three rows to cart your kids around town? Are you an empty-nester looking for something small and sporty? Or maybe you need something in between. Whatever you require – give it some thought. Consider the vehicle cost, size and safety ratings and then make a list of three vehicles you want to take for a test drive. Also be sure to factor in gas mileage and whether it requires regular or premium fuel.
2. Take them for a test drive
Once you narrowed down what kind of vehicle you’re interested in – it’s time to find it and looking for a used car is much different than a new one. The internet is a great place to start. Look for used car lots, dealerships or individual sellers who have what you’re looking for. Once you find it, schedule the test drives and decide which car, truck or SUV is right for you.
3. Check the vehicle’s history
The internet makes this step in the car buying process easier, too. Thanks to websites like Carfax.com and autocheck.com, you can enter the vehicle’s VIN and see if it’s been involved in any accidents or floods, you can look for outstanding recalls and liens. Once you find a car, truck or SUV that has a clean background and meets your needs, it’s time to secure financing.
4. Decide how you want to pay for it
Some used cars are so affordable people choose to pay cash for them and skip the financing all together. But if you want to stretch your car payments over many months, then you’ll need to shop around for a loan. Different banks have different rates and even a slight difference in percentages can save you thousands of dollars in the long run. It’s suggested that you take some time, meet with different lenders and decide which financing options are right for you. The better your credit, the better your interest rate.
5. Buy it and enjoy it!
The hard part is over and now the fun begins! You get to enjoy your new vehicle for years to come. But before you take off a road trip, consider protecting your new vehicle with an vehicle service plan from Protect My Car. In addition to warranties, Protect My Car negotiates the best prices on repairs with mechanics. Protect My Car provides consumers with real coverage for vehicles that are no longer under their manufacturer’s warranty. Whether your vehicle was purchased new or used, if your manufacturer’s warranty is about to expire, or has already expired, a vehicle protection plan from Protect My Car can save you thousands of dollars in repair bills. The majority of vehicle repairs happen 3-5 years after the original purchase date, which many times is outside of the manufacturer’s warranty coverage period. That could leave you responsible for paying the full repair bill. When you purchase a policy from Protect My Car, you could pay as little as $100.00 for your major repairs. That’s a lot of savings!
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