You’ve probably heard- the minute you drive off your new car from the dealership, the value of the car depreciates. A new car depreciates about 10% the moment you hit the gas pedal and another 20% of the value is gone within the first year. Even worse, 3 years down the road, the car is now worth only 60% of what you paid in the beginning. A less depressing alternative that would definitely not leave a huge debt over your head is buying a used car instead.
Buying a used car is a smart financial move since it is way cheaper than a new one and you might be lucky enough to find your dream car with lower mileage calculation and in a perfect condition at a steal.
But before you strut down to your nearest used car dealer, here are some things that you need to consider before you take the road less traveled.
- Determine Your Financial Budget
Before anything, you should determine how much you are willing to spend on the car. You should take into consideration your other financial commitments, your daily usage, monthly savings, and the emergency stash. Apart from these, you should also look out for ownership cost, not just the price of the car. Once you are sure that you would be able to cover the maintenance fee in the long run (as most used cars would have run out of its warranty period) and would still be able to provide for yourself, you are now ready for the next step.
- Define What You Want
When you choose a car, do you know exactly what you want from a car? Are you looking for a Sedan, a Hatchback or an MPV? How many people should be able to sit in it comfortably? What should the mileage be?What type of engine are you looking for? Do you have a specific colour you want your car to be in? What are some features of a car that you cannot live without? You should also research the brand, the model, and the price range of the car that you have in mind before you walk into a used-car dealership. Do ensure to know exactly what you want so that you are not lost when you are presented with a multitude of choices.
- Test Drive the Used Car
This is perhaps the most important part of before you buy a car. Spending some time behind the wheels will help you determine if you really like the car. Make sure to drive it adequately, not just around the parking lot but also out on the road. Drive it on the highway to test the speed, drive it on different road terrains to check out its durability. Other than that, you should also test all the accessories on the car. If something is not functioning, you would want to factor in the price of it as well which is why test driving the car is one of the most crucial steps in buying a used car.
- Review the Car’s History Report
If you are planning to buy the used car from a close friend or family who can vouch for its history, you can totally skip this step. But if you are buying it from a dealer, make sure to ask for the car’s history report. This report would provide you vital information like the amount of accidents it has been in and how severe it was, if the odometer has been rolled back or even if the car has been declared total loss by the insurance company. At Carsome, you are able to find this report online when you are finalizing the car deal.
- Get the Car Inspected
Having the car inspected by a trustworthy mechanic definitely needs to be part of the buying process to give you a peace of mind on the car that you are getting. You might be able to give the car an external evaluation but that is not enough. A mechanic will be able to get under the car (like literally) and run some extensive tests. We at Carsome ensure that all cars go through 175 inspection points before they are put on sale. Whatever defects will be available in the car’s history report.
- Time = Money
If you need a car right now, one way to go is to check out Carsome’s experience center. Think retail stores, but for cars. Once you have picked out your car and are done with the test drive, here comes the hassle-free part. You can either choose to pick out your car at our experience center or get it delivered to your doorstep (only Klang Valley area for now!). We take things to a whole new level with our 5 days money back guarantee feature. If you are not satisfied with your car within 5 days, you will be refunded the total amount in 24-hours (terms and conditions applied).
There are a lot of things to consider as you go about buying a used car, but it surely is a wise decision to make. As said before, a used car is an affordable vehicle that can provide you the transportation means you need to move from point A to point B. It might not be new but since it is affordable and the condition of the car is also great, you will be leaving with both a new used car and a peace of mind of not having a huge debt over your head. So before you decide on buying a car, do check out Carsome for a huge range of quality assured used cars and hassle free services. Test drive your dream car here.
