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As a young single person, you are probably enjoying your first taste of financial independence and may be considering purchasing a used car. Here are some used car buying tips for young singles that can help you make the smartest moves when you purchase a vehicle from an individual seller, rather than a dealership.
Determine the right car for you
You will need to weigh a number of options when deciding which type of car meets the demands of your lifestyle. For instance, if you spend a lot of time on the road with clients, a small sports car might not be the best choice for you. Or, if you don’t want to pay a lot of money in gas, a large truck or SUV probably won’t suit your budget.
To figure out what kind of car is right for you, you will need to answer some important questions about the size of the car, as well as gas mileage, repair and maintenance costs and safety features. There are a number of consumer satisfaction publications that can help you make the right decision when you buy a used car. Do your research so that you can make the best decision for your lifestyle and your financial situation.
Figure out your financing
Since you started your career, have you been able to save up enough money to buy a used car or are you still short on some cash? If you have enough money in savings to purchase a used car, you can avoid paying monthly payments that dip into your monthly budget, as well as avoid paying costly interest to a lender.
If you don’t have enough money saved up to buy your used car, you will probably need to get a loan from a bank or a lender. Shop around for the best rates and terms so that you can best manage your purchase and be sure you understand what different options mean for your finances over the life of the loan.
Inspect the car inside and out
Before you make a purchase, you should do a thorough inspection of both the inside and the outside of the car, as well as look into the vehicle history and take the car for a test drive. On the outside of the car, look for dents, scratches, chips and inconsistencies in the paint. Also be sure that the bumpers fit onto the body of the car without gaps and that the doors and windows open and close easily and completely. When you get inside the car, check out the headlights and brake lights, the air conditioning and heating system, as well as the upholstery and the stereo system. If everything meets your standards, you can move on to a test drive. Be sure to listen and feel for problems while the car is in drive.
Before you make an offer on the used car that you like, it is also a good idea to look into the vehicle’s history with CARFAX. It is also recommended that you have a mechanic check out the car to help alert you to any potential problems that are unsafe or costly.
(CARFAX and CARFAX.com are registered trademarks of CARFAX, Inc.)
Published on November 17, 2006