How To Buy Used Cars On A Shoestring Budget

How much can you save on your next used car? 85 percent of total US auto sales in 2019 were for used cars and trucks. As the global economic recovery continues, many consumers are looking for ways to streamline living expenses. Making a purchase after learning how to buy a used car is one option. Here are also some of the most effective ways to get the best price on a used vehicle.  

Shop online instead of at physical dealerships

Lower prices are easily one of the biggest benefits of buying a car through e-commerce. This is greatly based on lower overhead costs. Due to lower markups, online sellers are willing to pass on the savings to auto buyers. In fact, you can even save when buying a used truck or car from a traditional dealership. However, unlike a physical dealership, you won’t have to haggle with high-pressure salespeople. Chron reports the average commission for a salesman or saleswoman is up to 30 percent. The commission could also be quite high for high quality used automobiles at traditional dealers.

Research current values for a make/model

When searching for used cars for sale make sure to research the current value. This will provide the values for pre-owned vehicles from a particular automaker and model. The values of used cars can vary slightly depending on whether you’re purchasing the car from a car dealer or private seller, for example. It’s also important to review some technical differences between used and certified pre-owned (CPO) vehicles. In fact, purchasing a late-model second-hand car can provide an almost-new vehicle that checks all the boxes in terms of quality assurance.  

Buy a base model vs. loaded model

Should you even consider a base model from the get-go? The biggest disadvantage is you won’t get all the bells and whistles of a fully-equipped car. However, if you’re on a tight budget, then a base model is definitely an option to consider. The resale value will be lower than the price tag for a low-end model. However, you also might not need all the features included in mid and high-level variants. Yet another benefit of buying a base model is you can still customize the vehicle for a fraction of the cost of a high-end auto.  

Purchasing a vehicle can be an exciting, practical, and pricey experience. Fortunately, a used vehicle can save lots of money by taking steps like shopping online, researching current values, and buying a base variant. A used car lets you drive off in a lower-priced vehicle and more money in your pocket.

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