It’s a typical story. You’re in the market for a new car. You want to get the best deal with the best financing options, but most new vehicles are just a little out of your price range. You’re seriously considering buying a used car, but you’re wary. You may have heard horror stories from a friend or neighbor or read some scary online testimonials. These are not without good reason. You may hear about things like expired warranties. lemons, Or even vehicles whose mileage turned out to exceed the initial quote. Buying a used vehicle is a major purchase, so you may decide against it altogether.
The truth is a used car can serve you just as well as a new vehicle. But there’s a lot you need to take into consideration first. Before you do, let’s look at some of the more common myths about buying a use car.
Used Car Myth #1: Don’t Bother With Dealer Financing
Used Car Truth #1: Not only is financing through a dealer perfectly safe, a dealer can frequently get you a better financing option than most banks — if you find the right dealer. While there are always going to be a few disreputable cons, you’ll find that most auto dealers can be fairly flexible when it comes to interest terms. After all, they’re actual human beings as opposed to a dealing bank, which means they may be more understanding when you have a poor credit history.
Used Car Myth #2: There’s A Strong Chance You’ll Wind Up With A Lemon
Used Car Truth #2: The vast majority of unreliable used cars are the result of owners who have neglected to service them regularly. As long as you have the car’s Vehicle Identification Number (VIN), you’ll be able to review its service history in-depth. In fact, most reputable dealerships will have already reviewed a used car’s full service history (FSH) already — and they’re not about to risk their livelihood by selling a faulty vehicle.
Used Car Myth #3: If You Don’t Buy Today, The Deal Will Be Gone Tomorrow
Used Car Truth #3: A reputable car dealership will be able to offer you great deals regularly. While it’s true that seasonal deals tend to be limited, the only time a dealership may choose to offer “one time only” options (most frequently in the form of lower mileage vs. a limited warranty or lower interest rates) will be when they need to reduce inventory to make room for newer, more popular models. Furthermore, if you find yourself feeling rushed by high pressure sales tactics, don’t. It’s a sure sign that you’re dealing with a dealer who cares more about commission than your best interests.
Used Car Myth #4: You Can Only Find The Best Deals Online
Used Car Truth #4: Would you purchase a house online without inspecting it first, or without asking for a deed or title? Of course not. It’s no different when it comes to making a major investment like a used car. You want to inspect it first. You want to take it for a test drive. And above all, you want to negotiate the price with a dealership. Purchasing a car is best accomplished by having a physical experience, not a virtual one.
Used Car Myth #5: Always Judge The Value Of A Used Car By A Car Guide
Used Car Truth #5: A used car guide is simply a guide. Prices can be based on historical sales or regional trends. But they don’t take into consideration decrease in value based on damages, or conversely, a slightly higher price due to extensive care and maintenance. They’re simply rough indicators that can give you a general idea of what you can expect to pay. But, much like buying a home, price can always be negotiated.
Used Car Myth #6: Dealers Make Their Commissions By Selling Cars Outside A Customer’s Budget
Used Car Truth #6: A dealer makes a commission by selling a car. Period. They may look into your employment status and your credit history to determine the best option for you. If a vehicle is outside your budget, they’re not going to risk customer satisfaction for the sake of a quick sale. A happy customer is a returning customer. That holds true for both sides of the coin.
Used Car Myth #7: Used Cars Cost Too Much To Maintain
Used Car Truth #7: Cars lose value the second you drive them off the lot. Not only can you get as much performance out of a used car as a new one, you can sometimes get more — as long as you know how to take care of the vehicle. This doesn’t mean you have to take your vehicle to an expensive repair shop. In fact, you there are many preventative maintenance tasks you can perform yourself that don’t require extensive knowledge. All they take is simply a little bit of extra care and attention from you.
In short? Don’t listen to rumors and unfortunate stereotypes about used cars. Yes, buying any vehicle is going to be a major investment. As long as you use common sense and you have an idea of what you’re looking for, you’ll make the most out of that investment — at a fraction of the cost.
Don’t listen to the myths. Find out the truth about used cars. If you’re in the Chicago and Waukegan area and are in the market for a used car, visit us today at The Auto Warehouse.