tct-current

LIfe In The Middle

What Your Need To Know BEFORE Buying A Used Car

After some research into how to buy a car, I have realized this activity is one of the most disagreeable ones you have to go through. This is more so for women, who just want to get a dependable car to get them from point A to point B. They are not looking for some hopped up sexy machine that will draw a date.

To assist me with this article, I got several successful used car salesmen to tell me what the secret was. Surprisingly, I was told they would share the information, but only with the promise of complete anonaminity. “I’m sorry, but I need to protect my job, and the sales that I‘ll close in the future. ” was the typical response.

Here is what you need to know: First NEVER go into a lot, just to look around. When you do this, you have just increased the probability you will end up with a bigger, more expensive car than you need, BEFORE you need it.

Remember there are three major things you want to bargain for. Interest rate, price, and down payment. Always do your research before hand. First check out, and know exactly what your FICA score is. This gives you the advantage of knowing what you can bargain for with the dealer.

Looked over the price of cars on the Internet. You should get the Kelly Blue book value of the car(s) you ‘re interested in buying. This research will tell you what the car sells for from a private party, what the dealership pays when they take it as a trade-in, and what you can expect the dealership to sell it for on their lot.

Check out what you can get for interest rates for a car loan from your credit union, from the banks, and from other lending institutions. This is important, because it means when you ask the salesman for the BEST interest rate he can get for you, it is LESS than what you can get. Be sure to ask him “What can you give me that is less than 4.5% ?” (This is what you can get.) This puts him on the defensive, and you have the chance to get the lowest rate that is available.

When you enter the lot, be sure the first thing you tell the salesman is exactly what you want. I want a Honda, Toyota, Ford, etc. Then, when you see a car you want to test drive, have the salesman move the car from where it has been sitting. Then look at the ground under the car to check for fluid leaks. Has the car been leaking oil (black)? Is there a green fluid on the ground (coolant)? What about a pink fluid (transmission), or a maroon fluid(steering wheel fluid)? If any of these things are there, you need to cross the car off your list. You don’t want to start out with a car that is showing you it has a problem.

Here is another important tip. Listen to how the engine sounds on the test drive. After you get back to the lot, tell the salesman to leave the engine on, get out of the car, and listen to how the engine is idling. It should be purring softly, if you hear any thunks, or bangs, scratch it off your list. Next thing, step to the back of the car, and have the salesman rev up the engine to see if there is a cloud of black exhaust. Then have him turn off the engine and restart the car to see if you have an exhaust problem then.

Another important thing to remember is dealers get cars from all over the place. You may be bidding on a beautiful three year old BMW , but if that BMW had been sitting in 10 feet of filthy water during Katrina, you really don’t want it. Make sure you see the car history. Has it been in an accident flood, or fire? If the salesman hedges, take that as a signal to walk.

One other thing I was repeatedly told. Under No Circumstances hand over your driver’s license, or auto keys to anyone. If you do, you are not getting out of there for at lest three hours.

Here is another thing. If you have the cash, put it in your pocket. After you test drive the car, tell the salesman you really like the car, but you only have $4000 to pay for it. (The $4,000 is the price you set to pay before you go shopping.)When he starts to squirm, stick by your guns, have him fix up a deal with that number to take it to the manager. This will get the real dealing started.

So ladies and gentlemen, if this information helps you get a fair shake when buying a used car, thank those nameless salesmen whose good information helped me write this article. Good Luck! Until next time…Colleen

YOUR OPINION - Let us know if you liked this article, and whether you agree or disagree with it? Provide your comments here .

Click here to return to the top.