Currently, the average price of a new car is close to $40,000. However, not everyone can save for a down payment. If this sounds like you, you may have a monthly car payment for years.
So if you need new wheels but can’t splurge on the latest model, you’ll want to consider purchasing a used car. Keep reading to learn what to look for in a used car, so you get the most bang for your buck.
Where Should You Buy a Used Car?
Used cars are available on all sorts of platforms now, from Facebook Marketplace to eBay. Type in “used cars near me” and you may get a whole host of options. But are they all safe?
Sellers on Facebook Marketplace may not have as much information about the vehicle. They may not let you test drive it, either. That’s why it’s a good idea to find a used car dealer instead.
Getting more info about where to buy a used car should always be your first step. Where are the reputable dealers in your area? Then check to see if they have the make and model you’re hoping for.
Why Are They Selling?
Another question to ask when buying a used car is why the owner is selling. This is crucial if you do end up going with an individual. Give them a call and ask direct questions about their reasoning.
Has the car racked up too many miles? Is it not running well anymore? Does it break down?
There’s always a reason. If you want to be safe, used car dealers will make sure each vehicle is in proper working order before selling.
How Many Miles Does It Have?
Total mileage isn’t always the marker of a good or bad used car, but it’s helpful to look at. A car that’s gone between 12,000-15,000 miles per year is likely still in good shape. To determine average mileage, take the current mileage and divide by the years since the car was made.
This means, if you’re looking at an older car, you should expect a higher mileage. But you’ll likely look for a car that’s a few years old with relatively low average mileage. The engine and mechanics in those cars will have worked less and thus be in better shape.
How Much Can You Afford?
This is another key point to consider when thinking about new vs. used cars. Though a car is used, it may still be expensive or have a high monthly payment.
If you can afford to pay cash for a used car, that’s a great option. It saves you from taking out a loan and incurring interest. But if you can’t, consider the balance between age and price.
A newer used car will cost more, but you’ll likely get more use out of it in the long term. An older car will cost less but could require more maintenance.
Consider This When Purchasing a Used Car
With the right questions in mind, you’ll be purchasing a used car in no time. Make sure you find the right dealer and consider what you’re willing to spend.
And know what to look for, like damage on the interior or exterior. High mileage for a newer model is a red flag, too. If you keep these things in mind, you’ll find the perfect set of wheels.
If you want to check out more on how to choose the right car, visit our automobile section.
