Purchasing a used car is similar to searching for a treasure. You may find many used car deals in the market. However, you need to narrow down your car shopping to the ones that will benefit you in the long run. One of the important factors during used car hunting is the age of the vehicle. Understanding the important factors that make or break a used car deal will help you to figure out if you should take the plunge to buy a used car or wait for a newer model.
Complete Break Down of Elements that Make or Break a Used Car Deal
1. Age of the Car
Over the years of usage, cars lose value through depreciation. Your aim should be to purchase a car with a low depreciation rate so that its value will not depreciate significantly in the near future. But, make sure to avoid buying a very old car because it may end up at the mechanic’s shop more frequently. Most lenders avoid financing a used car that’s older than nine years because as the years increase, the cost of maintenance also rises. So, it is wise to choose a used car but do not go for a very old one.
2. Odometer Reading
The mileage is a maker or breaker when purchasing a used vehicle. The car’s average miles driven per year is 12,000 approximately. Usually, lenders prefer a used car to be driven below 100,000 miles. In the case that the car that you wish to buy has been driven for more miles according to the odometer, it is wise to further inquire and seek more details. Ask if the car was regularly maintained while the car was driven the extra miles. However, if the car is in good condition, well maintained and the mileage is a little above average, you should purchase the used car without any worry.
3. No Modifications
Ensure that the used car that you have narrowed down to purchase is not modified in any manner. Any modification performed on the used car can compromise the performance of the vehicle. For instance, if the engine is modified by the previous owner and if it strains the car, it may break down sooner than expected. Usually, modifications do not carry any warranties and the parts cannot be replaced. Therefore, make sure you raise proper questions about modifications before you agree upon the auto deal.
Buy a Used Car but with Caution
Purchasing a used car is light on the pocket as compared to a new car. Make sure that you get the used car checked by a mechanic before making the purchase. You can also use the Vehicle Identification Number to receive an instant report on the make, model and year of manufacture of the car. A vehicle report will also give a true picture of the current condition of the vehicle. On the basis of the information, you can decide whether to purchase the used car or shop for another one. Therefore, keep in mind the essential details before saying yes to a used car.