what to do when buying a used car cash
Can you lot really buy a cheap used automobile for just $two,000 or $3,000 in cash? Team Clark's Joel Larsgaard says the reply is clear.
"There is a myth that has brainwashed the listen of many a consumer that I just can't abide any longer," Joel says. "That fable is that good cars but tin't exist had for nether $ten,000. What a bunch of hooey!"
Tips for Buying a Used Car With Cash
Joel was one of the pioneers of ownership a cheap car on The Clark Howard Podcast. Back in 2008, he bought a 1996 Nissan Altima with 200,000 miles on information technology. The price tag on that sweetness ride? $three,200 — paid in greenbacks.
In the spirit of Joel, here are seven rules you should follow if you want to buy a cheap used car:
1. Expect for Cars That Take 'Uglied Out'
Dents, nicks, peeling paint and hail impairment are all your friends when buying a used car. The more scuffed up the outside looks, the more you tin haggle the seller downwards on toll. Remember, exterior flaws won't impact what'south under the hood.
One area to beware of though: tires. If the tires are bald, you could have to trounce out several hundred dollars to supersede them, and so consider that when you're haggling about the price.
Should you find yourself in need of new tires, we've got a list of the All-time Places to Buy Tires.
2. Follow the 10 Years/100,000 Miles Dominion
Ever heard of car manufacturers like Hyundai, Kia and Mitsubishi ad their 10 yr/100,000 mile car warranties?
That'due south the inspiration for a different rule you should follow if yous want to spend less than $5,000 on a used car: Look for cars that have at least 100,000 miles on them.
Are y'all thinking that 100,000 miles are besides much and that a car with that many miles is probably most the stop of its useful life? Retrieve once more.
It's entirely possible for vehicles made inside the final 10 to 15 years to ride 200,000 miles or more if they're properly maintained. For that reason, you may want to inquire the seller for records of routine maintenance, especially oil changes.
3. Know Where to Wait for Deals
When searching for cheap used cars online, bank check Carvana, Craigslist, Autotrader, iSeeCars and CarGurus.
That last site lets y'all put in your ZIP code and the brand/model of the vehicle. The site will then comb through millions of listings on published databases, and it will charge per unit the vehicles with notations like "nifty deal," "fair deal," "high priced" or "overpriced."
four. Beware Those Beloved Nameplates
Honda and Toyota pretty routinely tiptop the list for motorcar reliability according to Consumer Reports, (subscription required), which means those brands have high resale values.
If you're looking to buy a cheap automobile, skip the Hondas and the Toyotas of the globe. USA TODAY recommends you lot instead expect at what are chosen 'second-tier' Japanese brands like Mazda, Nissan or Mitsubishi.
Yous'll probably as well want to accept a laissez passer on European models but for a unlike reason. Cars with High german technology, for case, are then finely tuned that they require a lot of budget. That's extra money you'll be spending in the shop.
A happy medium might exist something like the Ford Focus, according to The states TODAY. That particular model from the U.S. automaker has a lot of proven reliability, which brings us to our next point:
5. Check Consumer Reports for Reliability
The annual Consumer Reports auto reliability survey is the most extensive survey of automotive reliability and one that Clark Howard himself relies on. The publication does a cracking task parsing the new models every twelvemonth when they come out.
But hither'south the value in that for a used automobile buyer: The magazine also offers detailed reliability ratings going dorsum several years on almost every possible brand and model. These ratings are compiled from reports about 17 common trouble spots in more than a meg cars on the road.
Talk nearly a corking vantage signal on long-term reliability!
six. Check the Vehicle Identification Number (VIN) Before Buying
At that place are more ways than ever to get a gratuitous VIN check when y'all want to buy a inexpensive car, and this is something you'll want to practice to avert buying a overflowing vehicle or ane with a salvage title.
Yous can even geta VIN check on your current ride if y'all're just curious most the vehicle's history.
Nosotros've got a guide to help get you started.
7. Become an Inspection by an Independent Mechanic Before Buying
Nosotros saved the all-time for final. This is probably the virtually important rule of them all.
I of the key things to know about buying a cheap used car is that you buy 'as is.' Never rely on whatever representations that the salesperson makes about the car, be it a commissioned employee at a dealership or an independent seller.
If you want to protect yourself, you must get a used automobile inspected earlier yous purchase it.
Ideally, you lot desire an ASE-certified (Automotive Service Excellence) mechanic to examine your potential purchase. Garages that participate in the Blue Seal program typically characteristic the near highly trained ASE-certified mechanics. Visit ASE.com to find one near you lot.
More than Auto Stories on Clark.com
- How to Buy a Used Car in 7 Steps
- All-time and Worst Machine Insurance Companies
- Costco Tire Center: v Things to Know Before Getting New Tires
Source: https://clark.com/cars/buying-a-used-car-with-cash/
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