Nothing is worse than just having signed for your used car, written a check for lots of money and getting it home only to experience buyer's remorse. Sometimes it's just nerves, or sometimes it's because you've made a terrible mistake. Here are five things to think about before you put your name on the dotted line.
The Internet is absolutely your friend when it comes to searching for a used car. Did you check every big used car lot or specialist lot for exactly what you want? You may be settling for something when what you wanted exactly was only 10 miles further away.
You can never get enough information about your new used car. Aside from a Carfax or vehicle history report, are there repair receipts you can get? It's also nice to see if regular oil changes were performed at a dealer or specialist, rather than a quick lube shop -- especially if you're buying something exotic.
Your car may be a bargain, but what do normal repairs cost? And what if you have something big like an alternator go out, is that an easy fix or will it require a specialist and the rates they charge? Even more simple, what does a new key cost if you happen to lose it? These can be deceptively expensive.
This is where you could be had. Used car loans are just as suspect to bizarre terms as new ones, and you could be getting a better rate somewhere else than what your dealer is currently pushing. Shop around and keep seeking out the best possible rate from your bank or a credit union.
This is hit or miss, but it's pretty much to make sure stuff that will make your vehicle inoperable is at least partly covered for a while. If you're buying something like a Honda Civic, an extensive warranty is probably unnecessary. If you fancy something like a Range Rover, there are tons of little motors and parts to go wrong, and they're all expensive. That's when an extended warranty would be well worth the price.
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