Buying a used car can be a long and daunting process. From visiting dealerships, speaking to friends and family, and trailing through thousands of pages online.
The way that we research cars has changed drastically due to the increase of information now available online, but this has the potential to make researching used cars overwhelming. This guide will provide information about the steps you can take to ensure you cover all bases in the used car buying process.
1. Online Tools:
There are plenty of online tools that can assist with your used car research. Tools such as Canstar and Finder will help you compare manufacturers, finance and insurance providers which can help inform your choice of car and insurer, as well as help you understand what you can afford. If you’re undecided on the type of car you want, have a look out our previous blog post on the top selling used cars in August.
Once you’ve decided on a make and model, you can use Prices People Pay to determine the price that you should be paying for your used car. This tool has a range of filters which allow you to sort through different factors like year, location and buy method. This provides you with data that is backed up by actual used car sales prices.
Using this tool is one of the most important steps in the car research process, as it ensures that the price you’re looking to pay is on par with what other similar cars have sold for – essentially it can stop you from being ripped off or alert you to potential faults if the vehicle is priced too cheaply. See our blog post on how best to use Prices People Pay for research.
2. Explore reviews
There are a range of online forums and review sites, both from consumers and experts that can assist in your research, particularly after you’ve selected the make or model you want to purchase. It is important when reading reviews to consider the source of the reviews, and understand that some may be more accurate than others. Ensure that when reading reviews, they come from credible sources, and that you corroborate them with other sources.
Look out for any news articles that refer to warranty issues or recall notices, you’ll want to make sure you factor this into the eventual price you offer. In addition, it’s best to have an estimation of servicing costs you might incur during your ownership of the vehicle as it may influence you to look for a different model.
3. Visit a dealership or car auction
Visiting a car dealership is a great way to properly investigate the make of car you’re looking at, and could give you an indication of how much a used car will cost. You’ll also have the option to look at different models, and test drive the car so you get a feel for it.
If you plan to buy your used car at auction, visiting an auction before you buy can help you learn about the auction process and what you can expect when you’re ready to buy. Keep in mind that sometimes at auctions, you won’t be able to physically inspect the cars so it is even more important that you have already done prior research. Some auctioneers, such as Pickles, even provide you photos and information online of cars about to go to auction.
Remember when researching you need to be thorough. Begin your research early in the buying process and combine a range of methods. Using tools like Prices People Pay will give you a holistic overview of the used car market. It’s a good idea to check in with Prices People Pay throughout the research process to ensure you’re on the right track.
