Buying a used car can be a great way to get more bang for your buck. Used cars cost far less than newer models, but there are things that you can do to pay even less for the car that you buy. The following guide walks you through buying a used car for as little money as possible:
Have a Decent Credit Score
When it comes to financing a vehicle, your credit rating directly effects the interest rate you pay for the loan on your car. You need to be sure that your credit score is as high as it can be. If you do not have any credit established, consider getting a small credit card for roughly six months and paying it off every month. This will establish your credit and prove that you are capable of making monthly payments.
Compare Prices from Multiple Dealerships
Many people do not realize that car dealerships will often match or beat the price that competing dealerships in the area offer on the identical vehicles. If one dealership offers a better warranty package than another dealership, being able to price match the price of the car to a dealership offering a lower rate can save you quite a bit of money.
You may have to go the competing dealership and take a picture of the tag that the other dealership has posted on the vehicle you are interested in purchasing. This allows you to be able to prove the asking price the other dealership is charging.
Opt Not to Pay for Any Optional Warranties
There are some used car dealerships that will offer you the ability to buy additional warranties on top of any warranty they already offer. Some dealerships offer "new engines for life" claiming that if anything ever goes wrong with the car, they guarantee the engine will be replaced. The only problem is that you must follow a very specific maintenance schedule that requires you to pay hundreds of dollars every few months to have the engine maintained.
If you miss even one of the scheduled maintenance appointments, your warranty could become completely void. To save money on the overall purchase of your car, avoid paying for any optional warranties that they offer. This allows you to pay the bottom dollar for the vehicle.
Being able to get a car for the lowest price possible also requires a little bit of haggling on your part. It is important to realize that most dealerships have a bit of wiggle room when it comes to the cost they charge for the vehicles. When you want to haggle with a dealership, you need to be sure that you know the true value of the car. By comparing the cost at other dealerships, you can be sure that you are not trying to get the car for far less than it is worth when you haggle with the dealer. To learn more, contact a company like J & J Auto Sales.