We are now in the market, officially, for a used car. My oldest son is now 19 and it is time that he start driving, but since we don’t really have an extra car right now we are teaching him the tips and tricks of purchasing a vehicle. He is young so for him he doesn’t understand there are things such as Auto Trader’s used car prices to refer to and to use as guidelines on fair pricing. Used car prices fall 3.9% in Q1 2012 following increase in volume of older cars so that is going to be helpful information when looking to good prices. I also told my son when he narrows down his choices that he should always check car valuations with Auto Trader as if he owned the car already to get a clear picture of the cars resale value.
Here are a couple other tips I offered…
- Don’t fall in love with the first car you see.
- Make sure you drive the vehicle and don’t base your purchase on the sound of the stereo system.
- Look under the hood and check the fluids.
- Purchase a CarFax or similar report to ensure there isn’t anything hidden about the vehicle’s history.
- Never, ever give someone money without a clear receipt outlining what the money is for and what return policy they are offering.
- Get an insurance quote before you purchase to make sure you can afford the premiums.
There are a lot of other things you should consider and you should never purchase anything of such a great value without getting feedback from a trusted and knowledgeable adult in your life. My first vehicle I ever purchased (way back when) was a used car that I never drove. I went to a used car dealer saw a car in my price range, sat in it, started it, listened to the radio, and bought it. When I went back the next day and signed all the paperwork I got my keys and went to drive off the lot; however, I never made it and the transmission went out completely. True story.
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