Planning to buy a used car?
Are you on the hunt for a second hand vehicle? Are you saving up to buy the used car of your dreams? Herewith follows a comprehensive list of things to consider, and ask, when you are planning to buy a second hand vehicle:
1. Finance
a. How will you pay for the vehicle? Whether youll be buying your vehicle cash or taking out a loan in order to finance the purchase, youll want to draw up an appropriate budget.
Other costs youll need to be aware of when purchasing your vehicle include (but are not limited to):
b. Car Insurance
c. Fuel
d. Licensing fees
e. Maintenance costs
Be sure to include these costs when calculating what your car will cost you on a monthly basis.
2. Questions
When purchasing a used vehicle through a second hand car dealership or through a private seller; these are some of the questions youre going to want answered upfront.
If a seller dodges your questions or cannot find you the requested information leave.
a. Does the dealership belong to the Motor Industries Federation (MIF)?
b. Will the remaining warrantee on a vehicle be fully transferable upon change of ownership?
c. What is the market value of the vehicle versus the price you are asking? (This may require research on your own part beforehand and not entail an actual question posed to the seller.)
d. Can the seller provide me with a full service history for the vehicle? Can this service history be authenticated?
e. Has the car ever been in any accidents? What was the extent of the damage?
f. Can I test drive the car?
g. Is the cars licensing up-to-date?
h. Can the odometer reading be verified as correct?
i. Can the seller provide me with a mechanical report on the car?
j. Is there any sign of rust or cracked rubbers on the car?
3. Logistics
Nobody purchases a car thinking theyll get into an accident one day but it can happen to anybody. It is thus essential that you consider maintenance and other logistics for the vehicle youre interested in purchasing?
a. Is the vehicle so old that parts are no longer manufactured for the vehicle?
b. Is the car an exotic foreign brand for which parts will be expensive and/or hard to come by?
c. Is there a service point for the particular brand of vehicle near me?
