Aspects to Consider When Buying a Used Car

We all need a degree of mobility, some have to travel in their work and for most people, car ownership is part and parcel of life. Buying a used car is fraught with risk and with that in mind, here are a few important aspects you need to take into account when looking for a second-hand car.

• Choosing a vehicle type – Your head should rule your heart when it comes to choosing a vehicle type; your heart might be set on a 2-seater sports beast, but if you are the head of a growing family, an SUV would be more suitable. Take into account running costs and functionality; many drivers choose a 4WD vehicle yet they have no plans to go off-road, so do some soul-searching and make sure you choose the right type of vehicle. The SUV is one of the most popular models and most manufacturers offer a range of sport utility vehicles with some pretty amazing features and options.
• Where to buy – There are affordable used cars for sale from established auto dealerships and they offer a fair warranty on all their vehicles. This is preferrable to buying from a private seller, as a private sale is ‘sold as seen’, which offers zero protection for the buyer. The dealership would thoroughly inspect a used car before listing it for sale, of that you can be sure. A typical warranty would be mileage-based and would cover things like the power unit and gearbox; you can enquire about the warranty when looking at cars.
• Affordability – If you are buying a car on finance, you need to be sure that you can comfortably afford the monthly repayments. Resist the temptation to view cars that are out of your price range; rather tell yourself that can wait until some point in the future. It is very easy to put yourself in a position where you struggle to meet your repayments. Set a firm figure that you will not exceed and you should be fine. Some rarer car makes and models are difficult to find parts for and that could make all the difference; generally speaking, the more common the car, the easier it is to get parts. Click here to find out about cheap car loans.
• Vehicle condition – The overall condition of a car is a reflection of how well it has been maintained and to a large degree, it is a reflection of its value. If your knowledge of cars is minimal, we advise you to take a qualified mechanic along when you view cars and let the expert do their stuff; for the small amount is costs, it is comforting to know that the vehicle is, in fact, in good working order.
• Fuel costs – Sure, it is nice to have that V8 humming away, ready to deliver huge horsepower, but at what cost? The rising prices of gasoline and diesel means you’ll need deep pockets to maintain the V8. A small hatchback with a 1.3l engine is more than enough for most people, while EVs are making headway in the car sales market.
• Eco-friendly options – If you are environmentally aware, you might consider an EV; charging stations are appearing everywhere in Australia; some drivers start with a hybrid, which combines energy from several sources, making good use of the vehicle’s kinetic energy.
• Vehicle age – A new vehicle starts to depreciate from the moment it leaves the forecourt, with at least 13% devaluation at the point of sale; smart motorists buy a 2–3-year-old car, drive it for a year or two, then sell it on, which gives you reasonably cheap motoring if you buy well. Another option is to buy a 2-year-old car and run it for as long as you can. You can expect 10-15 years if the car is well-maintained. Once a car reaches 5 years old, the value starts to drop significantly; many young drivers start with a car that is 10-15 years old and upgrade over the years.
• Insurance cost – Age and driving experience is relative to the cost of vehicle insurance, as is vehicle performance and the value of the car. Always check with your auto insurer before agreeing to buy a car, as this must be factored into the purchase.

As mentioned previously, buying from an established dealership is a smart move; they have a reputation to uphold and would never knowingly sell a dud. Once you have a firm budget and you know what make/model you want, start by checking local dealership websites; they would have a simple search function that takes you to the vehicles that meet your requirements.

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