Why Buy Cheap?
Just because a car is cheap, doesn’t mean it isn’t any good. Nowadays, a base model car may come with power locks and windows that used to be an expensive added option. Cars with hail damage can be heavily discounted due to the cosmetic imperfections, but still maintain the same warranty as a regular new car.
You can focus your efforts by keeping your priorities straight; getting a good car at a great deal that fits within your budget.
Buying a Good, Cheap Used Car
From an old junker that are destined for the scrap yard, to certified, pre-owned vehicles, there are a lot of used cars to choose from, and buying used is a great way to save money when shopping for a car. A used car may have a lot of door dings or faded paint, but still have many years of drivability left in it.
Get advice from an expert when buying a used car. It may cost a little extra, but it can also be invaluable in determining if the car may need costly repairs due to mechanical issues that are not easily identified.
Buying a vehicle history report can also be very helpful when buying a used car. It may let you know about undisclosed accident information that could adversely affect the value of the car.
Be sure to consider any extra expenses of the car as you make your decision. This is true whether you are working within a specific budget, or just trying to spend as little as possible.
Things that you should be aware of when making your decision:
- An understanding of the maintenance costs, especially on foreign or older cars.
- The cost of insuring the car.
- The need for higher grade items for upkeep like special oils or fuels needed for maintaining peak performance.
- The presence of cosmetic or mechanical issues that need to be addressed immediately after purchase.
Don’t let optional add-ons from the dealer trick you into spending too much. These can quickly turn a $15,000 bargain into an $18,000 burden.
Finally, consider what you will be using the car for. If you will be using it for a long commute, fuel efficiency and reliability are paramount. If it is a work vehicle, some cosmetic issues aren’t as big a deal, and opting for a car in such condition can save a lot of money.
Be firm when it comes to your budget, negotiate, focus on your needs, and be patient. The bargains are out there.