Doing some research and preparation before shopping for a used car can help to ensure a successful vehicle purchase. Equally important for a successful purchase is to have a plan once a vehicle is found. This article looks at creating a before purchase checklist as well as an inspection report after the ideal vehicle is found.
Used Car Buying Checklist
Before looking for a used car, it’s a good practice to sit down and create a checklist for specific vehicle attributes. The list should be in order of importance.
For example if the cost of the used vehicle is the most important factor, the price range should be the first attribute listed. Some examples to consider for the list may include, in no specific order:
- price range
- safety ratings
- reliability ratings
- number of passengers
- fuel economy
- model configuration
- vehicle age
- vehicle mileage
Attributes like safety ratings and number of passengers may be more important for a family vehicle. Vehicle mileage and reliability ratings would be a more important factor for someone looking to keep a vehicle for a long period of time. Once the attributes are listed, number them by importance and rearrange the list in order of importance.
Research the Chosen Used Vehicle Online
Once a vehicle is found, the next step is to do a little research to ensure you’re getting a good value. The buyer should check to make sure the price is inline with current market values. One easy method is to perform a query on one of the vehicle pricing guides online. The values are based on the following:
- year
- make
- model
- mileage
- vehicle condition
Online vehicle pricing guides can vary somewhat as to the given values and pricing categories. If a used car is purchases from a dealer, the price category that’s used is the retail value. If the vehicle is purchased from an individual, private party value should be used. If a factory certified pre-owned car is chosen, the value will be higher than the retail category.
To help ensure a car doesn’t have prior issues or problems, a vehicle history report should be performed. This can be done easily online. The report will list past issues like title problems, accidents, recall, theft and flood damage among other issues. It’s important to keep in mind that the reports are not all inclusive.
Used Car Safety and Mechanical Inspection
Once a vehicle is chosen, take it to a reputable auto mechanic for a thorough car inspection for mechanical or safety related problems. Some major mechanical repairs can cost thousands of dollars to repair. Safety items like brakes and tires can also cost hundreds of dollars.
If the mechanic determines there are issues with the vehicle, get an estimate on the repair costs. Talk to the seller and ask if they’re willing to deduct the cost of repairs from the selling price of the vehicle. If the seller won’t budge on the price, figure in the cost of repairs as part of the selling price.
James Clausen - Clausen received a Bachelors Degree in Business Administration in Automotive Management and Marketing at Northwood University, graduating ...
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