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How to buy a used car (Cars | Motorcycles)

How to buy a used car 

     Most consumers want to know how to buy the car of their choice at the best possible price. With improvements in the quality of automobiles over the years, a well-maintained car should remain reliable for the least 7 years 100.000 km. If you are looking for a new model, buying a used car of the same style, only a couple of years old can really be a good deal. The biggest percentage (approximately 20%) old a new car’s value is lost in the 1st year of ownership. Accessories such as expensive stereo systems, power assists and convenience options are far less a factor in resale pricing.

Pricing a used car 

     With the average price of a new car increasing every year, it is not surprising that the fastest growing segment of the auto industry is the used car market. Buying a car that is just a year or 2 old can save thousands of dollars over the price of a new model, especially as the price of new cars keeps increasing.

Price Guides

     Unfortunately these price guides cannot be found in Lebanon or do not exist in our country (these books do not provide a definitive price but serve as a reference point for negotiating with the seller). What can you do? You can check instead the classified ads in the local newspapers to determine what advertisers are asking for the type of car you want.

Financing / Insurance

     Check with local banks for financing: 1. Be sure to determine the amount that the bank will finance for a specific model. 2. Consider obtaining pre-approved credit, which would eliminate dealer pressure on the purchase of a vehicle. Check with your insurance company for a quote on the vehicle you want to purchase. Can you afford to pay insurance and car payments? Also be sure to allow a little “extra” in your budget for unexpected repairs.

Read book online on Google Docs How to buy a used car

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