As new cars get more expensive and commuters avoid mass transit in the wake of the coronavirus pandemic, the used car market is booming. It's easy to find a used car but finding one that's both reliable and affordable is more of a challenge. Fortunately, you can have both if you’re willing to do some work to get there. Here are a few tips that can help you make a sound choice.
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Have a Realistic Budget
You can make a big mistake if you get in over your head by buying more car than you can afford. Be honest with yourself and decide how much you can comfortably pay as a down payment and a monthly payment.
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Do Your Research
The best way to approach this is to take the time to do the groundwork necessary to find the best and most reliable car for you and your family. A good way to start is to check with publications such as Consumer Reports or Car & Driver. These companies review sales and performance records of many different makes and models and will even rate some vehicles as best buys.
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Shop Online and In Person
Once you’ve done the research and you’ve come up with one or more models you’re interested in, you need to find out if they’re affordable for you. Check around websites or car lots to find out what these cars are selling for. Compare prices at dealerships with offers from individuals.
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Think About Purchasing a Certified Used Car
A certified pre-owned car is a used car that comes with a factory warranty. Typically, these are lease returns, fleet cars, or low mileage models, and they’ve had a rigorous going over by a factory trained mechanic. A certified used car will likely have a higher price than one that’s not certified, but they come with warranty coverage and extras, such as roadside assistance during the warranty period.
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Shop for Financing
Explore different financing options by checking rates at your local bank or credit union and compare these to what the dealership may offer. If possible, get financing pre-approved. If you’re pre-approved, you have a good idea of what kind of interest rate you’ll be paying. Also, being preapproved may help you in your negotiations with the seller.
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Research the Car and the Seller
Now that you’ve found the car that you think you want, you need to learn as much as you can about it. Companies like Carfax, AutoCheck, and others will allow you to use the VIN or the license plate number to get a vehicle history report that will show previous owners, odometer readings, maintenance records, recalls, and accident history. Reviewing the vehicle history report will help you to eliminate any cars that may have had flood damage or significant accident repairs. Yankee Ford provides a free car fax for all our used inventory.
It's a good idea to also research the seller. Take a look at online reviews from previous customers and check with the Better Business Bureau for information about the dealer’s reputation in the community. If there are complaints, you’ll need to see what the complaints were about, and more importantly, how the dealer handled the complaints.
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The Test Drive
Your test drive should be done solo if possible. Make sure that all the interior accessories are in working order, adjust the seat and mirrors, and then drive on the roads that you usually drive on. You can turn on the radio just to make sure it works, but don’t have it on while you’re driving, as it might drown out a noise that you need to hear. Be aware of everything-vibrations, noises, interior stains, or bad paint.
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Independent Mechanic Inspection
You should be allowed to have a mechanic of your choosing give the car a thorough inspection. If he discovers any problems, you may still want the car, but that will be a tool for you to negotiate the price downward.
Final Thoughts
While all of this may sound like a lot of work, the end result of your diligence in finding the right car will pay off for years to come. Carefully consider all your options, take your time, and you’ll make the right decision.
Yankee Ford is the premier Ford dealership in South Portland, Maine, offering a diverse inventory of both new and used vehicles to choose from. Our highly trained sales team is ready to help you select your next vehicle, and our certified factory trained service technicians are equipped to handle all your service needs. If you have any automotive needs in the Portland area, we hope you will stop by and let us serve you. For more information, visit our website or contact us. We hope to see you soon!