Are you thinking about purchasing a used vehicle? As the micro-chip shortage that began in 2020 has subsided, auto analysts are hopeful that this year looks better for consumers looking to purchase a used vehicle. Analysts have predicted that used vehicle prices will continue to decrease as inventory increases, making it ideal for consumers (Source: www.cars.com). In this month’s blog post, we review four important considerations for purchasing a used vehicle so that you can make an informed and wise buying decision.
Consider Your Purchase Options
There are many different avenues you can take to purchase your used vehicle – these include auto dealerships, online vendors like Carvana, Carmax, or Vroom, or direct from an individual seller. The upside to used vehicle sales through businesses is that you may receive more information about the vehicle history and they may offer a vehicle warranty, but the downside is you may pay a higher price for the retail mark-up.
Because state laws may require specific disclosures for business sales that may not apply to individual sellers, purchasing a used vehicle from an individual comes with higher risks. Unless you know the individual seller, it will be your responsibility to ask for additional information that may be provided by business sellers, like the service or accident histories. The upside to an individual seller is that you may be able to get a better overall price, but the downside is you may not have a full history of the vehicle if the seller is not being honest with you. They may also not be able to transfer any existing warranties over to you after purchase.
Research the Vehicle
If you have pinpointed your desired vehicle make, model, and year, then you should conduct as much research as possible. There are many online resources that can help, including Edmunds, Kelley Blue Book, or CARFAX. These websites and others, enable you to get an estimated cost range, which can help you when you are negotiating price. Beyond price, you should also read reviews of the vehicle that you are seeking. Online reviews will tell you what other vehicle owners are saying about common problems, as well as advantages and disadvantages of the vehicle. It is helpful to know about common issues that a vehicle experiences in case you are concerned about possible future repairs. If you are working with an individual seller, ask them to provide you with information about the vehicle such as past service records, any accident claims, or a Vehicle History Report through services like CARFAX.
Arrange a Test Drive
If you have a specific vehicle in mind, you should arrange a test drive. During this test drive, you should inspect the interior, exterior, and engine of the vehicle.
To test the vehicle’s driving performance, take a test drive that will enable you to make turns, accelerate and decelerate, and drive on a variety of roads. Pay attention to any strange sounds, smells, or unusual movement during the test drive.
Check Interior:
- Look for dirt and tears in the upholstery or leather.
- Test the driver controls – A/C, heat, vents, horn, radio, navigation system, windshield wipers, and turn signals.
- Check the headlights, brights, turn signals, and brake lights.
- Test windows and door locks.
- Check other specific features that may be part of the vehicle – like tailgate lifts, cruise control, automatic seat recliner, etc.
Check Exterior:
- Check for dents, dings, missing paint, or scrapes.
- Ensure that side mirrors work and are not damaged.
- Inspect the tire treads and sidewalls for damage or wear.
- Under the hood, make sure to check fluid levels on major systems, look for signs of burned liquids, broken or worn hoses or belts, signs of corrosion on battery. Turn the vehicle on while the hood is open and listen for unusual sounds. Look for any leaks under the vehicle.
Additionally, it is helpful to ask about any warranty information on the vehicle or parts like the battery or tires. Also, research any recalls or recall notices and make sure that they have been addressed if current.
Have an Independent Inspection Done
If you plan to hold on to your next used vehicle for a long time, then you might consider having an independent inspection of the vehicle. Most sellers, including individuals, generally do not object to an independent auto mechanic looking over the vehicle. Our service professionals at Colonial Service Station are happy to talk with you about how we can help support your used vehicle purchase. Any fees that a service professional charges to inspect a vehicle is worth it in the end, if it saves you on future repair costs that are unknown. In the end, the peace of mind you have with your purchase will outweigh any fee to have it inspected.
As used vehicle prices go down, and inventory goes up, you have many options to choose from in your next vehicle purchase. Stay educated and informed, and you will make a good purchase decision that you do not regret.
Give the service professionals at Colonial Service Station a call today to discuss your plans for purchasing a used vehicle. We will be happy to provide our guidance and expertise to help you out.