A new luxury car, however, comes with a high price tag. Buying used cars is a smart way to drive a high-quality, luxury vehicle without paying the high price for a brand new car. When searching for a used car for sale, understanding how to buy a used car can help you to find the right vehicle for your needs as well as your budget.
Set Your Budget
The purchase of a used car Australia is one that requires planning. A review of your bank account balances and your personal budget is necessary before you begin exploring used cars sales and start looking for cars to buy. The decision between paying cash or using vehicle financing when buying cars is the first step to setting your budget. How much cash do you have available to put into your vehicle? Then, consider if you want to take on monthly payments for a car loan. What monthly car loan payment would be easy to manage with your budget?
You should also consider that the car you drive will affect your car insurance premium and your gas expense. While reviewing your budget, consider establishing an affordable budget for these two car-related expenses. When buying cars, you will need to research these factors for each specific car you are interested in driving. These steps can help you to find a vehicle that is most affordable for you.
Do Your Research
The last thing you want to do is to make your decision about whichused cars Sydney you want to buy based on the look of the vehicle alone.
Luxury used car Australia lots are filled with shiny, gorgeous vehicles from top car manufacturers. It is easy to fall in love with a vehicle on sight alone. To ensure you make the best decision when you buy used car, consider researching a few different makes and models that most appeal to you. Pay attention to the fuel economy, analyse the safety rating and more. Speaking with a mechanic or car broker who specialises in used car sales can provide you with specific information and the ability to get your specific questions answered. Avoid walking blindly onto a lot that sells discount used cars. Instead, take time to educate yourself about the makes and models available so that you can make an informed, educated buying decision about used cars sales.
Checking the Car’s History
After you believe you have found the ideal luxury used car that meets your budget, appeals to your sense of style an appears to be in sound condition, you should take a few extra steps before making your purchase. Whether you make your decision to buy used car from a car broker, a car buying service, a direct seller or a discount used cars lot, check the vehicle’s history. This step allows you to learn if it has been involved in major accidents, if it has experienced water damage and more. These events in a vehicle’s history may indicate that the car is not as structurally or mechanically sound as it appears. A car’s history can be purchased online for a nominal fee through a website like My RTA Registration. You will need to car’s Vehicle Identification Number (VIN) and plate number to pull a vehicle history report.
Checking the Car
When buying used cars Sydney from a car buying service, a private seller or any other sources, it is important to find a car that is in top condition. Your own visual examination of the vehicle can reveal a significant amount of information. For example, an uneven or blotchy paint job may reveal that the car has been repainted and therefore may have been involved in a serious accident in the past. Uneven tread wear on the tires may indicate that the vehicle has not been properly maintained and serviced by its previous owner.
Bring a small flashlight with you when shopping so that you can peer into the engine and observe signs of damage or maintenance needs. Bring a magnet to determine if corrosion is present on the vehicle. Turn the engine on and test the radio, CD player, wipers and other features in the car.
In addition to your own visual inspection, before you buy used car, consider taking the car to a mechanic for a thorough inspection under the hood. Mechanics may charge you a fee for this service, but this is a small price to pay in comparison to the information you may learn about the car. A mechanic can tell you if the vehicle is mechanically sound, if it is need of a transmission replacement, if the engine is corroded and more.
Testing the Car
Many used car buyers will initially test drive a vehicle after reviewingused car prices and finding a vehicle that has an appealing style.
However, once you slide behind the wheel of a beautiful luxury car, it can be difficult to walk away from the car. With this in mind, it is best to avoid temptation and drive a car only after the above steps have been completed.
Once you know the vehicle is in sound condition, meets your budget requirements, is rated highly for safety and fuel economy and more, then take it out on the open road for a test drive. Consider how the vehicle handles and if you are comfortable behind the wheel. While most luxury cars were designed to provide you with a superior driving experience, you want to find a car that you are comfortable driving. Factors such as your body shape and size, the ability to adjust the steering wheel and seat to an ideal condition, how low the vehicle rides to the ground and more can all affect how comfortable you feel behind the wheel of a specific vehicle. Further, pay attention to how the car drives. Listen for loud or unusual sounds while driving. Notice if the car veers too far to the left or right, or if it shudders on the road while you drive.
Negotiating Used Car Prices
In order to get the best deal on a used car price, carefully research used car values. This can most easily be completed online through one of several popular car valuation websites. Used car values will vary based on the condition of the vehicle, the number of kilometres that have been driven on the car, where the car is located and more.
Some used car sellers will place used car values on their vehicle based on an excellent condition, but there may be cosmetic issues with the exterior or interior of the car. Further, the mechanic’s inspection of the vehicle may have revealed repair work that needs to be done on the car in the near future. When negotiating a used car price, consider using your own valuation methods of the vehicle. Research the value of the vehicle based on the condition you noted.
From that value, consider deducting the cost of needed repair work. When you make an offer for the used car, consider providing the seller with the mechanic’s itemised list of repairs as well as a print-out of the car valuation you used. A car seller does not have to accept your offer, but when you provide documentation showing how you arrived at your offer, you may find that he is more willing to negotiate a fair price for the vehicle.
Paperwork and Payment
When you begin looking for cars to buy, consider applying for car financing rather quickly. You should avoid signing the paperwork car on-site, as there are several key steps like price negotiations, the mechanic’s review and more, that need to be completed before you make an offer and hand over money.
However, you don’t want someone else to buy a car that you have been spending time researching and are interested in buying. Therefore, when you look for cars to buy, have your financing in order and transfer funds in your bank accounts so that the down payment or full purchase price, if paying cash, is available for immediate access. The car title and transfer of funds to a seller should take place at the same time. Avoid handing money to a seller until the car title is available to be handed to you.
Buying a used car for sale makes financial sense. This is especially true when buying a luxury vehicle like a Lexus, Audi, BMW or Mercedes. You can typically purchase the vehicle you want with less cost to you when buying used. Understanding how to buy a used car and following these key steps can help to ensure you get a fair price on a quality used car.
About Tim Marsh:
Tim Marsh, author of New Cars Plus’s Car Reviews and Blog, has been covering the car beat for the last 8 years. Tim specialises in finding the best deals on wheels and offering advice on making your car last.