I Am Looking To Buy A Used Car
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The Covid pandemic has muted depreciation, however, and prices for used cars are growing faster than for new. As the price gap narrows, buying new becomes more appealing because the vehicles are in better condition, plus, they have a full warranty and can be financed at a lower rate.
Used Teslas have done particularly well of late, as gas prices have risen, spurring more interest in EVs and the economics of recharging versus filling up. The popular all-electric vehicles are now averaging $65,000 on the used marketplace, coming close to their cost when new.
Under normal circumstances, a car shopper might be advised to wait for the end of the month because that's when many dealers are looking to make quotas and are more likely to negotiate. They might also be told to look for cars that are being discontinued or redesigned because dealers want to get them off the lot.
Summer 2021 update: The COVID-19 pandemic has affected vehicle production worldwide and brought factory closures, limited staffing and a global shortage in semiconductor chips that are essential components in a modern vehicle. As a result, fewer new vehicles are available on dealer lots. And the combination of fewer new cars and more people looking for lower-priced vehicles has increased the demand for used cars and subsequently driven up prices.
It's no secret that the Honda CR-V and the Toyota RAV-4 make for good used cars. But they might cost a few thousand more than a comparable Ford Escape or Kia Sportage, even though these are solid cars too. So if you're looking to save money, consider more than one brand. We suggest making a list of three cars that meet your needs and fall within your budget. Edmunds reviews have great information to guide your choices.
Prices are driven in part by where you're shopping. You'll find used cars in used car sections of new car dealerships, independent used car lots, used car retailers such as CarMax, and websites where private-party sellers list their cars. Of the four, private-party cars will typically have the lowest selling price. CPO cars will usually cost the most, but for the reasons we've noted. To see what other people are paying for the models you've picked out, take a look at the Edmunds Suggested Price, found on each vehicle's inventory page.
One easy place to start building your target list is the Edmunds used car inventory page. To find exactly the car you want, you can filter your search by many factors, including the miles on the car's odometer, its price and features, and the dealer's distance from you. Most other websites will have similar methods to find the vehicle nearest you.
Unless you're buying the car from a close friend or family member who can vouch for its history, plan to get a vehicle history report. This early step is essential. If the car you're looking at has a bad history report, the sooner you know the better.
Sometimes the seller will mention something that wasn't in the ad that might change your decision to buy the car. If you want to go deeper, our used car questionnaire is a good reminder of what to ask. You will notice that the last question on our list is the asking price of the car. Although many are tempted to negotiate even before laying eyes on the car, it's better to wait. Once you see it, you can tie your offer to its condition.
Test-driving a used car is the best way to know if it is the right car make and model for you. It's also a good way to assess a particular car's condition. So tune out distractions and focus on the car. Here are some things to check:
If you've come here looking for a great deal on a used or certified pre-owned (CPO) car, truck, SUV for sale, then you're in the right place. Edmunds has everything you need to know about finding and buying the best cheap used car near you. At Edmunds we offer used car dealership listings and sales reviews, loan information, expert reviews, consumer car reviews, car cost comparisons (based on factors like condition, body style, mileage and trim level), vehicle appraisal calculators, images and videos, technical features and specs, user forums and more.
View all of Edmunds' used inventory, containing hundreds of thousands of used automobiles, trucks and SUVs for sale with special offers, appraise your current vehicle for sale or trade-in value, and research the car of your dreams. You can limit your search to certified pre-owned vehicles for sale and be a click away from articles by our experts that will give you the best shopping and buying tips and advice. Let's take a closer look at each of these aids to easier used-car shopping.
Just use the search bar at the top of the page to browse pre-owned autos for sale from popular makes such as Ford, Honda, Toyota, Chevrolet, Hyundai, Nissan, Acura and Jeep. Or select a body style with Edmunds' curated lists of the most popular sedans, hybrids, SUVs, hatchbacks, wagons, coupes, convertibles, minivans or pickups. The inventory tool allows you to cast a much wider net than simply visiting your local dealership's website. Start with the make and model of the vehicle that you're interested in and refine your search by used auto price, distance, model year and mileage. If you're looking for specific options or features, a certain trim level or a specific color, there are more advanced search filters available, including engine type, fuel type, drivetrain, powertrain, airbags, air conditioning and much more. After you find the automobile you're interested in, select the listing to check out the VIN details page for that vehicle and get more information. There you'll find a description of the vehicle from the dealer, vehicle features and options, contact information for that dealership, dealer reviews and a ballpark insurance estimate.
Buying a used car is one of the smartest financial decisions you can make. You pay less for the automobile and avoid the depreciation that new-car buyers face the moment the vehicle rolls off the dealer's lot. Buying used has a number of other advantages as well. You will pay less for registration and insurance. Also, the margin for a discount may be greater when you buy a pre-owned automobile. And if you purchase the vehicle from a private party, you will likely get an even better price than you would at a dealership.
Edmunds has an in-depth 10-step guide to buying a used car, but this article streamlines the process into five essentials for people on the go. You also can print out this article or save it on your smartphone and use it as a checklist as you're shopping.
The used-car market is like a huge haystack, and while it may seem tough to find that needle, a bit of online research cuts the legwork and speeds up the process considerably. The good news is that you're already on the right page to start. From here, you can either input the car you want or scroll to the "Select a Make" section and click on an automaker you're interested in. You'll then get a list of cars to choose from. And on the left side of the inventory page, you'll find several ways to filter the choices.
The next thing to do is get an idea of maintenance costs on any car you're considering. Proper maintenance is especially important on a used car since it may not have a warranty to protect it if anything breaks down. People buy used vehicles as a way to save money but often overlook the cost of maintenance, which might end up pushing them beyond the limits of their budget. The car's owner's manual, which is often available online, will tell you what you need to know about maintenance services and intervals. A phone call to a dealership service department or a trusted independent repair shop will get you pricing information. You also can check resources such as RepairPal.
Once you find the car you want, you'll want to move fast so it isn't sold out from under you. So it's a good idea to get your financing set up before you begin searching for your car. If you're paying cash, there is little to do except make sure you have the funds available to withdraw cash or get a cashier's check when it's time to do the deal. If you're paying all cash for a used car from a private party, consider doing the deal in a public place.
There are a number of places to purchase a used auto. Here's a quick rundown: CarMax offers no-haggle pricing and cars that are in good condition, but its prices are a bit higher than you'll find elsewhere. Private-party sellers have lower prices and can be negotiated with more easily, but the burden is on the buyer to get the car inspected. Major dealerships sell certified pre-owned cars that are in excellent condition and backed by factory warranties. This option will appeal to buyers who want to minimize the risks of buying used and are willing to pay extra for it. Independent used-car lots are another alternative but can vary wildly on price and the condition level of their cars.
Most private sellers aren't as experienced in negotiating as dealers, nor do they want to negotiate as car dealerships do. Use this to your advantage and make a fair but aggressive offer. If the seller turns it down, be persistent and counter with a slightly higher amount. Remember, it might be OK to spend a little more than you'd hoped if you found the perfect used car.
When the time comes to close the used-car sale, there are a few important items to take care of. Have the seller get a smog test for the car if your state requires one. Check the registration to ensure it is current. Make sure the seller gives you the title (also called a "pink slip"). If the owner still owes money on the vehicle, you may have to contact his or her bank or credit union to complete the transfer of ownership. Some states require the seller and buyer to complete a bill of sale. This document is good to have in case you are pulled over and haven't yet registered the vehicle. To prevent any hassles like that in the first place, go to the Department of Motor Vehicles as soon as possible to register the vehicle in your name and pay any appropriate taxes. 781b155fdc