Why I Purchased a Used Vehicle and You Should Too
My wife and I have been in the market for another vehicle for some time now and after browsing the internet for close to 6 months, we finally found a car that is reliable, affordable, and attractive enough to please my wife. The winner was a 2003 Dodge Neon SE with 54,000 miles for $3,500.00 (pictured above and below). I think this is a car that will last us for many years to come and most importantly, requires only one payment. There are even better deals out there to be had and now may be the time to search one out for yourself.
Places to Find Bargain Vehicles.
I primarily searched three sources to find our vehicle: 1) www.craigslist.org; 2) www.ebaymotors.com; and 3)Washington Post’s Classifieds. Because I have learned over the past couple of years how to do most vehicle repairs, I have a slightly higher comfort zone when it comes to owning a used car. However, what is there to be nervous about really? With the proper preliminary steps, purchasing a used car from a private-party is safe, affordable, and satisfying. I’m always shocked by the number of people who absolutely refuse to buy a car unless it’s from a dealer. The reality is, in most situations, is that a dealer is going to overcharge you for you’re a new or used vehicle, and undercut you on a trade in. I don’t even enjoy walking into dealerships. You are immediately met by a salesperson who is likely looking out for themselves rather than the customer. If you decide not to purchase a car then you usually recieve future periodic phone calls of extreme cant miss deals. Generally, I think if a product has to be sold and rammed down your throat, it’s probably not a good product–good prodcuts sell themselves.
Use the Economy to Your Automotive Advantage.
A reality of our current economic situation is that used cars have seen a decline in price. If you think about it, it makes a lot of sense. Even those people who can probably afford to spend money like they did 2-3 years ago are saving, mostly because they are nervous about job losses and investment losses. Just like selling a house right now can be difficult because buyers are sparse, trying to get rid of a used car to somebody of whom will take only cash can prove just as complicated. Those fortunate with cash are hesitant to unload on a used car and those that need a car, but don’t have the cash, are finding a loan hard to come by. What all of this really means is there is a saturated market of used cards, both on the lot and in the papers. For us, this meant the perfect time to buy.
Steps to Take to Avoid Buying a Lemon. Test driving the vehicle is a must; even those that lack the confidence to even open the hood can detect major problems just by the feel and drivability of the vehicle. Finding out the cars history is also another great way to avoid buying a lemon. For a few dollars you can get a snapshot of the vehicles life using www.carfax.com. It’s usually a good idea to avoid buying vehicles that have obtained major front end damage and flood damage. It’s also important to check with your local DMV to understand all of the steps you need to take, including all the proper forms both the buyer and the seller need to sign, in order to properly register the vehicle. Making sure the proper forms are filed can help prevent purchasing a vehicle that doesn’t have a clear title or that has been stolen.
Still not convinced a used car is the way to go?
My Top Ten Reasons to Buy a Used Vehicle.
1) A new car will instantly be worth less than the amount you owe the second you drive off the lot.
2) A new car will come with higher taxes and fees.
3) A new car will come with higher monthly insurance payments.
4) Properly maintained cars can easily last 15 years.
5) New cars can breakdown too.
6) It’s much cheaper to put money into a savings account and save for emergency maintenance costs than making a monthly car payment for years on a new vehicle.
7) Used cars that are paid in full have the option of only carrying liability insurance.
8) By avoiding buying a new car every 5 or so years, you can expedite your retirement by an estimated 5 years or more.
9) Services like AAA can take the fear out of driving an older vehicle and will still be cheaper than a new one. However, over a lifetime, paying for a few towings will be cheaper than a constant monthly fee.
10) Oddly, the longer you keep amd use a vehicle, the more you become attached to it and understand its limits.
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Comments
I’ve bought several used Toyotas from Craigslist classifieds and they have all been reliable vehicles. Assuming that you already have a trusted mechanic who will check out the car, you’re saving dealer markups, new car insurance, and hefty state excise taxes and title fees.
The blog is absolutely fantastic. Lots of great information and inspiration, both of which we all need. Thanks.
I bought a used 2000 Impala in 2004 with about 25k miles. I’m hoping the car will last me another few years (until I get out of graduate school).