You’ve had enough of the public transport and that overused family car and you want to purchase your own vehicle for the first time. You prefer Ford and have even been looking for used cars for sale in Sarasota,but you’re still not serious about the decision. If that sounds like you, you arrived at the right place.
Buying a used car is a daunting task. Once you’re figured out your budget, are done with all the research, have selected a dealership, and picked the car, taking that final decision will make the real difference. You do have multiple Ford auto repair options available everywhere, but why not avoid that cost by obtaining some insights into buying a used car in good condition?
Here are five important things to know before you buy your first car.
1. Used Car Is More Reasonable
When buying your first car, you need to be extra cautious to eliminate any chances of trouble. If you’re not an expert driver and you’re still learning to drive, consider buying a used car instead of a brand new one. This is because minor collisions are common when you’re learning to drive. When you buy a new car, even the tiniest of scratches will hurt you.
Besides this, an average new car loses 11 percent of its value as soon as you take it away from the dealership. On top of that, an annual depreciation of 15 to 25 percent for the next five years brings its value down to only 37 percent of the purchase price you paid.
This also means that when you buy a brand new car on loan, the moment you start the ignition and drive it away,you owe more than its remaining worth. This creates further problems if you have plans to resale, realizing that you owe more than buyer is willing to pay.
A used car, that has already faced the initial depreciation, will be much cheaper. At least you won’t have to pay the outrageous price just for that new car smell.
2. Budgeting Helps
Budgeting doesn’t simply mean figuring out how much money you have to pay to purchase the car. There are various other costs associated with a car purchase such its maintenance, insurance, and fuel.To calculate how much you’ll need to cover these costs over the car’s life, you will have to prepare a budget.
To be honest, budgeting is no rocket science. A simple method is to first calculate your cost of living by adding up your monthly house rent, health insurance, food, and other expenditures. Whatever remains is available for your new vehicle.
While the insurance of your car will depend on age and model of the car you purchase, it will typically cost you around $100 per month. Likewise, gas and maintenance should cost around $75-$100 a month, but again, it will depend on the use. The type of car and model you select will depend on how much you have left for the car’s upfront payment.
3. Car Inspection Is a Must for Used cars
Buying a used car is a totally different game because you’re no longer just relying on the brand name. The car has been used for a while, which means it might have functional issues. Getting a car without prior inspection can be a pain if a serious problem exists.
Besides a visual check and inspection by your auto mechanic, make sure you take a test drive to get a clearer idea of how it performs and how you feel in it. But make sure you treat it as a test drive, taking it through bumpy streets and a freeway of course to experience the feel while speeding.If a dealership has objections to this, consider another dealership. You can’t afford to hurry through this step. After all, you’re spending thousands of dollars.
4. Sales People Can Trick You
First-time car buyers are often pressurized by sales people to compromise and accept a sub-par loan. They may manipulate the purchase price by adjusting the interest rates, increasing the loan term, or using other restructuring techniques to fit the price in your budget. No matter what, don’t ever tell the salesperson about how much you plan to pay each month on the car loan.
You can certainly afford the down payment now, but that so-called ‘affordable option’ might require extra payments of thousands of dollars for years. A sensible first-time buyer will stick to the purchase price. If you have a maximum price range in mind, try to ensure that the title registration charges and taxes are included in it. Besides an auto mechanic, consider taking a relative who has experience purchasing cars and is not afraid to share an opinion.
5. Getting the Best Insurance Deal Isn’t Easy
Before you start driving, you will need to opt for insurance. Experienced drivers have a low risk of accidents, which is why they are charged a lower premium than beginners. Since you’re a first-time buyer, you’re considered inexperienced and prone to errors and accidents. As a result, insurance companies will be reluctant to cut you the best deal.However, you might still be able to grab the best deals with proper research. Certain independent agents will suggest you whether it is sensible to get your own policy or if it makes more sense to get yourself added to your parent’s policy.
Ford is a reliable brand for a car, but when it comes to purchasing a used car, you have to consider other important things. Now that you’ve obtained some deep insights about how to purchase used cars, you should have no problems proceeding with the decision.We hope you get the best car for yourself.
Don has a decade in automotive service and customization in his CV, being a Ford Certified Technician. He enjoys spending time with his 3 kids, and working on his customized Ford Edge.