Tips for Purchase of a Used Car

You have a variety of options available to you when you are shopping for a used car. Knowing the tips that help a person purchase a used car is key to this process. Once you have narrowed down your selection to the type of vehicle you would like, find out the market value of your vehicle on www.nada.com. This way you have an idea of what the market is paying for that vehicle, and you have a ballpark figure of what it will cost.

Tips for Purchase of a Used Car: Where to Buy
Rental agencies. Sometimes you can find a great deal waiting for you at a rental agency. Rental agencies tend to keep the cars regularly maintained. After a couple of years of service, they often retire their cars. Usually they will offer one price on the vehicle with no room for negotiation. Typically, these prices are usually a little bit higher than market value because the cars are clean and well maintained.

Private seller. If you want to purchase a car from a private seller, it is recommended that you take the car to a local mechanic and get it checked out. Also, make sure the seller has the title. If he doesn't have the title, you risk purchasing a vehicle that may have been stolen. Also run a vehicle history report on the car to see if any major damage has occurred. You can narrow your search down by vehicle when looking through the classifieds in the newspaper or online. Look for clean cars with low mileage.

Dealer. When you go to a dealer who is selling a "certified" model car that you would like, don't immediately get suckered in. It is still a good idea to have a mechanic check the car out thoroughly as some dealers use this as a catch to get more money out of consumers. Certified basically means they have done more things to the vehicle before putting it on the lot, and you get a 3-month warranty in most cases; make sure to find out what is covered. It is still a good idea to run a vehicle history report on the car to find out if anything major has happened to it.

Repos from the bank. Most major banks offer repossessed vehicles for sale at a special APR. Take advantage of these when you see a good vehicle in good condition. Most times the APR on these cars is lower than the average rate. You can get the car checked out; many times there is still a great warranty left on the vehicle.

If you have narrowed it down to a particular type of vehicle, locate other dealers that offer the same car with the same features and mileage to see the price each is offering. You always can go back and forth with dealers negotiating the best price for you. It is great to have an offer from one dealer while sitting at another, as you can then walk out the door with the better price.

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Leasing a car is a great option for some people, but the question of leasing vs. buying a car really depends on how you intend to use your car, and your long-term financial goals. Assuming a lease doesn't have to be a painful process, though; learn the jargon and common pitfalls to avoid, and you can get a great deal on leasing a car.

Many people don't realize that there are some times of the month and days of the week that are considered to be the best time to buy a used car. Because of sales volume, salesmen quotas and new inventory, dealerships are more willing to let cars go at a reduced rate. 

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If you are wondering how to buy a car from a dealership, then you should know that the art of negotiation is your best friend. Whether you're talking to a new car dealer or a used car dealer, they are always happy to see new customers. That's because they hope to talk you into a sale that will leave them with a fat commission check. But you need to be ready before you walk onto that lot, or you might be pressured into buying a lemon.

Unscrupulous dealers use a number of car lease trade scams to run up fees and penalties if you trade in your lease, all the while telling you they're getting you a deal. Find out if a lease trade will work for you or if it's just hype.

When the time comes to buy a new car, people want to get the best deal they can find. Think about the best time to buy a car to ensure you're getting a good price.

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