10 Steps to Buying a Used Car
Step 1: Starting out - Why buy used?
The following steps will tell you how to locate, price and negotiate to buy the used car you want. If you don't yet know what car to buy, read "10 Steps to Finding the Right Car for You" and then come back after you have decided.
Step 1: Starting out — Why buy used?
If you've decided to buy a used car, you've already made a smart decision. You can get a car that's almost as good as a brand-new one without paying for the depreciation that wallops new-car buyers as soon as they drive the vehicle off the lot. Even cars that are only a year old are 20-30 percent cheaper than brand-new cars.
But there are other good reasons to buy a used car:
- You'll save money on insurance.
- Bigger bargains are possible for the smart used-car shopper.
- Used cars are more reliable today than ever before.
- Some used cars are still covered by the factory warranty.
- Most new carmakers now sell certified used cars, which include warranties.
- The history of a used car can be traced easily with its vehicle identification number (VIN) and a vehicle history report.
- If you buy from a private party, the negotiation process is less stressful.