7 Tips on Purchasing the Best Preowned Cars

Posted by Mr. Hachis | On: Oct 25 2010

Purchasing preowned cars is today turning out as the best car buying deals available in the market. From the outset, preowned cars are desirable to those individuals who want a perfect condition vehicle at a bargain price. These cars are almost as good as brand new ones and yet are sold at the subset of the asking price a new car has. The following tips can help you buy the best preowned car in the market at the most attractive bargain price possible.

The first thing you need to realize is that you can own even the most expensive cars in the market, at pristine condition, at the price of any ordinary, below par vehicle. As such pre-owned cars come as a great alternative to you when you want a better car than you can afford as a brand new. A good example is when you opt to buy a preowned Camry at the same price of a brand new Corolla.

Second, you ought to realize that cars are assets. However this is the kind of asset that depreciates with use (mileage) and age. The depreciation of a car is usually the greatest during the initial two years. As such, when you buy a car that has already been in use for two to three years, the seller must necessarily discount the price with at least 30 – 60 % of a new car to account for the depreciation. Thirdly, the 2 or 3 year old car should also have a low mileage since the mileage is what indicates the level of usage depreciation. The higher the mileage, the lower the asking price.

Fourthly, remember that your choice of preowned cars is motivated by the need to minimize the initial expense of owning a car. The word minimize here is key, since most people seek cars at throw away price just because they are preowned. Ideally, you should seek for a high quality car at a minimal price and not just any car at the lowest price. What is sold at a thrown away price is fit for throwing away. So, aim at minimizing the cost and not decimating it since the price of an asset is almost always equivalent to its value/quality.

Further, seek for preowned cars that are still covered by the factory warranty and which will continue being covered for a while longer. If the preowned car is still within coverage of the warranty, you stand a rare chance of having the car replaced or serviced if a major mechanical and functional error develops. If does not play out, you will still have an opportunity to have the car serviced to perfection if need be. This is also important since the car with a valid warranty has been used for a minimal time and has a potential for being in better shape than those without.

The sixth and perhaps the most important tip of them all is that you should always buy a certified car that has already passed an inspection carried out by a vetted and trained technician. Major manufacturers usually conduct certified programs to provide their dealers with certified pre-owned models of their vehicles. Such vehicles must necessarily meet very strict requirements for them to be included by the manufacturer in the program. For all the certified vehicles, manufacturers provide additional warranty to a new buyer as part of the purchase deal.

The idea in buying preowned cars is to reduce expenses of buying a new car but still getting a high quality car in pristine condition. This is what you must seek for during the purchase process of a preowned car.

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