Buying the Used Car of Your Dreams

By: Cristina Fernandez

As you grow older, you will start to realize that you need a way of getting from point A to point B without asking your parents or other friends to drive you. The reality is you are going to need a car. Whether you need it to drive to school, go to extra-curricular activities, drive siblings places, run errands, or just do what you desire, you will need a way of getting there and back. Most teens are first time car buyers and don’t really know where to start. It is important to decide how long you will need your car for. A year ago I purchased a used car because I knew that after college I will want to buy a brand new car so I won’t be using it for that many years. This was a reasonable thought for me because not many colleges allow freshmen to keep a car on campus. I decided to buy a used car because it was much cheaper than buying a brand new car. This decision was also made uniquely for me because a used car has disadvantages as well. A new car may be more fuel efficient and will last longer than a used car. Considering all of these factors, I would strongly consider teenagers buy a used car. When you look at prices of different cars, look at the cars that you can pay off in 48 months and that you can afford to put down 20% of its price. If you cannot do this for a car DO NOT BUY IT! This will put you in a financial hole and you will begin to accumulate debt. These are useful websites that help you save when buying a used car: Cars.com, UsedCars.com, CarsDirect.com and many more. Make a complete budget for your car including all annual costs such as loans, tires, oil changes, insurance, and other maintenance. Use that budget to determine if you can afford to pay your loan off in 48 months.

When you buy a used car it is important to get an AutoCheck Vehicle History Report on the Vehicle Identification Number and have a mechanic inspect the car. AutoCheck is a vehicle history report from Experian Automotive, which uses its data to create a vehicle history report. A single vehicle history report for AutoCheck costs $29.99. Unfortunately, there is no invoice price for used cars because car dealers get their cars from other people at a trade-in price and boost the price from there to make a profit. Check how your car has been sold on eBay over the past couple of weeks, print it out and show it to your dealer.

Another important factor to consider when looking for a used car is any damage the car may have. Ask a mechanic to look at the car to inspect any accident damage, corrosion, hidden frame damage, and fluid leaks that the history report won’t tell you. Get an extended warranty especially if the car is 3 to 4 years old. Warranty Direct is a good website to consider when researching different warranty claims. Also, use Up2Drive.com to save money on your used car. All you need to do is apply online and they will respond to you in minutes and mail you a check that you will bring to your dealer. You can also lower your car payments by using Auto Refinancing Loans. Auto Refinancing Loans have low APR and are fast and easy. Beware of fraud!! Don’t be afraid to take the time and make sure the car you are buying isn’t fraud. There are many fraud incidents that occur every year on the internet because a person did not take enough time to examine the deal thoroughly.

Compare different auto insurance rates. Get different quotes before buying a car to figure out how much the cost of financing that car will be. Good website that provide free auto insurance quotes are BestCarInsuranceSite, Allstate, GEICO and LowerMyBills.com. One important thing to beware of is that many used cars have previously been in disasters or wrecks and were sold again. Check to make sure your car isn’t missing airbags. Make sure your car has not been flooded or in another disaster. Also check for odometer rollback. If the VINs don’t match up the car was stolen.

Buying a used car when you are a teenager is highly recommended in most situations. Remember that when buying a used car there is potential for fraud. Dealers or private owners can take advantage that you are young and may not have as much fraud awareness. To be successful when buying a used car these are the steps to follow: search the internet and a newspaper, purchase a vehicle history report, get a used car loan, negotiate with your dealer, and get an extended warranty.

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Image Credit: blog.usedcars.com