How to Spot a Good Deal on a Used Car
For many of us, owning a car isn’t a luxury, it’s a necessity but with rising prices and inflation, you don’t want it to cost you an arm and a leg. At the end of the day, you want a fair deal.
Even with the increases in used car prices, second-hand vehicles are an excellent way to get more value for your money.
With so many factors in play like market value, condition, history and performance, making the right choice can feel overwhelming. The guide below will help you assess a used car like a pro and avoid some common pitfalls.
1. Research the Market Value: Know What You Should Pay
Before you start looking at vehicles, you need to know what a fair price looks like. Understanding the market value is essential to ensure you’re not overpaying when shopping for used cars. Websites like AutoTrader offer handy tools to compare prices for similar models based on age, mileage, condition and even location.
For example, a car with low mileage and a full-service history will typically command a higher price than a similar model that has covered more ground or has been poorly maintained. Also, don’t forget to consider regional price differences.
2. Inspect the Vehicle’s Condition: Look for Signs of Wear and Tear
While price is a priority, the car’s condition is what determines whether it’s a good deal. Inspecting the vehicle in person allows you to spot any signs of wear or damage that may not be obvious from photos.
Minor scratches are common, but extensive rust or body damage can be costly to repair and could indicate poor maintenance. Check the tyres for uneven wear, which could signal alignment or suspension issues.
Next, inspect under the hood. Look for any fluid leaks, worn belts or corroded battery terminals, as these can lead to mechanical problems down the line. The interior should also be in good condition.
3. Check the Vehicle History: Avoid Hidden Problems
The history of a used car can tell you a lot about its past and, more importantly, its reliability. It’s vital to request a vehicle history report or HPI Check to uncover any hidden problems.
One of the biggest red flags to watch out for is outstanding finance. If the previous owner hasn’t paid off the loan on the vehicle, the finance company could repossess it—even after you’ve bought it.
Mileage discrepancies are another serious issue. Always verify the car’s current mileage against its recorded history to ensure it hasn’t been tampered with.
4. Test Drive: Evaluate Performance on the Road
No used car purchase is complete without a thorough test drive. This is your opportunity to see how the car performs on the road and confirm its overall condition.
When driving, pay attention to how the engine responds. Does it accelerate smoothly or are there any delays or strange noises? The car should feel stable, and the steering should be responsive without pulling to one side.