After deciding the budget and ways to finance the car-buying process, the next thing on list is to familiarize oneself with the process of buying used cars. The first place to visit to get initiated in this process is a used car dealership.
Why used car dealerships?
Used car only dealer has the ability to offer you all sorts of car you can hope to find in the open market. Sometimes you can strike a lovely deal on a car that is barely few years old, in excellent condition with warranty and after-sales servicing options. Since the dealership is exclusively for secondhand cars, the salesperson will be flexible and ready for negotiations. This can work to your advantage.
The first step to get acquainted with the pre-owned car buying process is to pin down few good dealerships that hold car of your make and model. Call up the salesperson and ask for the sticker rate and the final rate. In most cases, the bargain begins right there with the first conversation. However, some dealers maintain the lowest offer price to the most serious buyer. Trend is to go down by as much as $400 to $500 from the price stated.
To pose as a serious buyer, visiting the dealership after making an appointment is a good move. When you visit, you can inspect various cars and pick out the one that strikes the most suitable to your needs. If you are not sure how to assess the quality of the car, then use an independent mechanic for that purpose. Don’t forget to test drive the car. If the car is for you, you will never miss it.
The purpose of familiarizing with the process of buying pre-owned cars is to survey the market. Market survey will help you in deciding what is available and what is the expected rate. While doing the pilot study, you will come across terms such as ‘with warranty’, ‘as is – no warranty’, insurance, legal fee, etc.
Most car dealership will provide warranty for a defined period. Sometimes, the car is so new, that it might still be under the original warranty from the manufacturer. In such cases, where warranty is in the picture, it would be an added bonus. It is also a kind of security in case something happens to the car for no mistake of yours. The dealership will take the responsibility to take care of it.
On the contrary, if the sales contract simply states that the dealership will offer no warranty and the car will be sold in whatever condition it is in, make sure you buy a used car in great condition. The moment you drive it out of the dealership, the car is solely your responsibility.
Legal stuffs and final cost
The quoted price never includes legal fee, insurance and other processing fees. While negotiating, it would be pointless to negotiate only the sticker price to suit your budget and then pay an exorbitant amount that you never negotiated or never knew existed as the final cost. One factor that determines the final cost is the insurance. Insurance differs for each make and model. If the car requires modification and repairs, that might add extra. You need to keep all these factors in mind before negotiating.
Now that you have been initiated into the ocean of used cars, wade your way through to find your dream car.
Visit Ottawa used cars blog for more information.