Finding a Good Used Car: Three Things You Should Know
In today's automotive era where inventories are tight, discounts and good deals on new cars can be hard to find. And this is also true for used vehicles.
Consumers may be tempted to rush their search or skip steps in order to get their hands on a vehicle that appears interesting before someone else puts their hands on it.
- Also: Used Vehicle Prices Again Reach New Highs
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But beware, this can be a mistake. It's always important to do your homework in order to make an informed purchase that you won't regret, especially when you have to stretch your budget.
How can you make sure you find a good used vehicle that will give you peace of mind and reduce the risk of problems? There are different factors to consider, regardless of your budget. Here are three of them...
Reliability
As a first step, try to focus on brands and models that have a solid reputation for reliability, such as those reported by J.D. Power and Consumer Reports. Also, check out discussion forums, social networks and other sites where owners report problems they've had with the same kind of vehicle you're considering.
Second, remember that every used vehicle has a unique history. The maintenance it has received has a great influence on its health and reliability. A complete inspection - not just mechanical - is necessary and, to this end, it is also important to choose a dealer or garage you can trust.
Age
With demand outweighing supply at the moment, vehicles that are a year or two old are hardly losing any value at all. Some are even being advertised at a higher price! Where's the financial benefit in that? Good question. To find better value, you'll probably want to look at three to five-year-old models, such as lease returns that have been well maintained.
Safety Equipment
Repairs caused by fender-benders and accidents can be very expensive. It's best to prevent these situations from happening. Ideally, you should choose a vehicle that has several active safety and driver assistance technologies. Even in the used market, a growing number of models are equipped with automatic emergency braking systems, parking sensors, and 360-degree cameras that help prevent collisions. Think of it as an investment.
