Ultimate Guide: How To Buy a Used Car

No matter what age you are, buying a car is an exciting experience. When you’re in the market for a new vehicle, it’s important that you consider buying a used car rather than new because it could save you a significant amount of money. A new car’s value significantly depreciates the second you drive it off of the lot, however, if you buy a used car it will most likely already have passed this stage of losing value. 

With the right information and a few simple tips, the process of finding and buying a used car in your budget can be less stressful than you think. Continue reading to learn more about how to buy a used car, easily. 

Why Buy Used?

Comparing apples to apples, a used car is going to cost you less than a brand new one. While a new car may be flashy and have all the latest features, it will be significantly more expensive than a pre-owned car. If you value your bank account, here are three reasons to buy a used car rather than new: 

1. Less Vehicle Depreciation 

Vehicle depreciation is an unavoidable thing when it comes to buying any car. In fact, CarFax found that new cars lose more than 10% of their value within the first month of purchase. However, when you choose to buy a pre-owned car, it depreciates at a much slower rate than a new car. Additionally, by the time you get in the driver seat of your used vehicle it will already have undergone most of its depreciation. 

Learn More: How Depreciation Affects Yours Car’s Trade-In Value

2. Lower Insurance Cost

Insurance costs can vary, but a key component in determining the cost of car insurance is the value of your car. Because a used car has less value than a newer one, insurance costs tend to be cheaper (much like the actual car itself). 

3. More Bang for Your Buck

Choosing a used vehicle will allow for more “wiggle room” to spend your money on other things you may need for your car, such as accessories. With the money you save going the pre-owned route, you may even be able to afford a more recent model of the car of your choice. 

How to Buy a Used Car From a Dealership

1. Determine Your Budget

Determining your budget is an important step in how to buy a used car. However, setting a budget for a new car can be more difficult than you may think. An accurate budget goes past just finding a vehicle in your ideal price range. You have to consider the cost of insurance, parking, and general upkeep of the vehicle when trying to set your budget. 

Thankfully, there are many online resources to help you determine your budget for your used car. A good place to start is using our payment calculator, simply input your information and review your estimated monthly payment. 

2. Choose the Right Car

Shopping for a used car has proven to be a more difficult task than shopping for a new vehicle. When you’re looking for a new vehicle, you really only have to worry about finding a car in your budget that you like. However, when you’re in the market for a used car, you not only have to find a car that you like at a good price, you have to consider the mileage, aesthetics, and reliability of the vehicle. 

If you don’t want to jump through hoops to make sure the used vehicle you’re interested in isn’t junk, you may want to opt for a certified pre-owned (CPO) vehicle. CPO cars offer both used car affordability and manufacturer-backed warranty. Typically, these cars are only a few years old and have relatively low mileage. CPO cars also go through rigorous inspections and refurbishments to make sure the vehicle is in good condition. 

Related: 4 Things to Know About Used Car Warranties

3. Get Pre-Approved for a Loan

Unless you plan to pay for your car fully in cash, you’ll probably need to take out a loan. Thankfully, here at Burlington Kia you can get pre-approved for financing! Getting pre-approved for a car loan can help you save money by allowing you to compare loan offers and improving your negotiating power during the car buying process. Additionally, it also allows you to review your budget before you begin car shopping and helps you secure the best interest rate. 

Learn more: A Step-by-Step Guide to Financing Your Next Car

4. Test Drive and Inspect

Now that you know which car you want, and have been pre-approved for a car loan, you can begin to test drive and inspect your prospective vehicle. You should always inspect a car that you are looking to buy thoroughly. It’s important that you test out things like the seats (even the rear ones) to make sure that there is enough space for all of your passengers and storage needs. Other things that you should inspect on your used vehicle include:

• Tires
• Windows
• Body Panels
• Doors
• Liftgate

Here comes the fun part — the test drive. During your test drive you should test out things like the horn, and brakes, and make sure that you are familiar with all of the technology, such as certain navigation systems or smartphone connectivity. If you’re test driving with another person, it might be a good idea to ask them to drive so you can get a feel of all the entertainment features without actually having to worry about driving. At the end of your test drive, you should list the things you liked, and the things that you may not have liked about the car to aid in making a decision. 

5. Complete the Paperwork

If the test drive didn’t raise any concerns and you are set on buying a specific used car, it’s time to finalize the sale and complete the required paperwork. This part should be easy, as your salesperson should have the documents prepared — all you’ll have to do is read over them and give your signature. However, it is important that you read over your documents thoroughly to ensure that everything is correct. 

Buy Your Next Used Car at Burlington Kia

Now that you’re an expert on how to buy a used car, it’s time to put your newfound knowledge to the test. Come to Burlington Kia and browse our vast selection of pre-owned vehicles. Whether you’re in the market for a sedan or SUV, we’ve got you covered. Contact us to schedule a test drive today!