Buying a used car, unlike a new one straight from the dealers, can be a walk into the unknown and quite challenging. A new car is, well, new and its mechanical condition guaranteed under manufacturer warranty for a period giving the buyer peace of mind.
Other than the physical looks, the mechanical condition of a used car is a matter of blind faith without a professional inspection and depends on what the sales agent or owner claims. Here are a few essentials you need when shopping for a used car.
Know what you want
Before you start shopping for a used car to buy, first decide what type of car suits your preferences and the budget available. Things to consider include car make and model, how much you are willing to pay, model’s safety rating and fuel economy, and its age/mileage.
Know the insurance implications, and a visit BrokerLink.ca, a leading insurance brokerage, can get you useful information. The most obvious place to start searching for a good used car is the local dealership before looking at newspaper classifieds and online listings. It will be easy to shop when you know what you want.
Questions to ask
Prepare the right questions to ask aimed at helping you evaluate the condition of the car satisfactorily, albeit as a nonprofessional. The right questions preempt the sales agent’s bullying and puts you in control. Rehearse this in advance so that you appear knowledgeable and not easy to fool.
Ask about the reasons the car is on sale, service record, current mileage, any major parts replacements, the status of warranty, car’s VIN and ownership papers, and, most importantly, check the CARFAX Canada vehicle history report.
Finally, ask if a test drive and an independent inspection are acceptable and whether they can fix any faults discovered.
Test drive and pre-purchase inspection
If satisfied by the seller or agent’s answers to your questions, proceed to perform a test drive to get the feel of the car. A 30-minute test drive is the minimum duration to form an opinion on the condition of the car and if it meets personal preferences. However, only a professional inspection can point out any defects the car may have.
The test drive is merely a way of getting an indication of what the driving experience will be. Conduct the pre-purchase inspection at a reputable shop and you can find one from the local Canadian Tire, Automobile Protection Agency, or check the CAA list.
How to negotiate for a used car purchase
Have some knowledge of the estimated price and value range of the used car, especially the make and model. The pre-purchase inspection shop can also assess a probable price range for you.
Now, to negotiate a good deal successfully on the purchase, learn a few tricks and factors that affect a car’s value against depreciation and other market forces. Before confronting the seller, do a thorough background check and line up your facts well. Be calm, unhurried, reasonable, and firm, keeping in mind that the offer matches your budget.
Close the deal and insure your car
After everything is done and what is left is to finalize the used car purchase, remember to check the local regulations in your province. Every province in Canada has its own regulations on the process and documentation requirements for the purchase of used cars.
You may check the CARFAX list for guidance before closing the sale. Having identified the used car you want to buy, approach the insurance company/broker for advice on the right insurance coverage.