1. Verify Car Information
It’s a basic practice to verify vehicle information when buying a used car. The dealer should ideally provide relevant information on vehicle history. You may also lookup Autotrader.com, Edmunds.com, and the Canadianblackbook.com Websites for more information about a pre-owned car. By comparing models and features, you can save some cash. For example, you may find that only “high-end” models are on display at a dealership even though lower-level alternatives do not necessarily lack the handy features you want.
2. Research price upfront
Many car information websites also let you in on car price. Autotrader and car pages are some of these, allowing you to search for deals on new or used cars and also compare the selling price of cars in your location. If you choose to buy new, many car manufacturers allow potential buyers to virtually build a customized car and stipulate desired specifications. This way you pay for only the features you want. In general, knowing upfront the retail price of your desired car will help you negotiate a better deal, and potentially help you save more cash on the purchase.
3. Have a Mechanic Inspect the Car
Barring manufacturer defects, you can buy a new car with confidence. But this is not true for used cars. If you are purchasing pre-owned vehicle, thoroughly inspecting it for defects should be one of the first things you do. And while you can test drive the car yourself, the experience of an expert cannot be discounted. Chances are you might miss out on hidden defects, but an expert mechanic won’t. At Uchanics our certified mechanics can help you avoid major repairs, and provide evidence on the cost of pending repairs, and thus give you an advantage when negotiating price.
4. Request Vehicle History
From pending maintenance to liens and past accidents, a vehicle history (e.i. a CarFax report) lets you in on all of a car’s crucial information. A good looking car is not necessarily good for your budget if they have outstanding repairs and liens attached to them. So it’s important to clear all concerns by looking at a car’s history before handing over your cash. To find out more on a car’s past mechanical issues, head over to carfax.ca. Recall information can also be retrieved from Transport Canada website here, auto123.com, or you can search on your car manufacturer website.
5. Avoid hidden fees
While province taxes and registrations fees are valid, some others are not. From marketing fee to liens and appearance package, some dealerships cut corners, selling cars with hidden fees you shouldn’t be paying for or others you can negotiate. Before concluding a deal, make sure you know what you’re exactly paying for, and that you won’t be incurring any additional cost post purchase.
6. Buy from a trusted seller
Except if you’re buying from an independent seller with whom you have a close relationship, it’s difficult to guarantee a fair deal if you don’t purchase from a dealership. Dealerships are not legally obliged to disclose all problem with the car to customers and there may be some things this missed or didn’t know If the selling price looks too good to be true, it probably is. It is best to purchase a used car from only verified sellers or dealerships, if that is not available to you make sure a pre purchase inspection is done by a licensed mechanic.
7. Demand a written agreement
If there are outstanding repairs and your dealer has agreed to foot the bill, make sure this is put in writing and not just a verbal agreement. This way, you have evidence to fall back on should you have any disagreements after purchase. A “We Owe” agreement works fine. Make sure this agreement clearly states the repairs for which the dealership will be responsible to fix and the point of contact to ensure problems are resolved on time.
8. Have alternatives in mind
Having options is a good thing, especially when buying a used car. Before visiting a dealership, ensure to have a ready list of alternative cars in mind. This is where background research comes in. Whether it’s the price, model, year or accessories, you should find similar cars to your ideal choice. This will make it easy to compare the pros and cons of each before making a decision. However, if you go shopping without a list of alternatives to consider, you make an easy deal for the salesman.
9. Negotiate the deal
This might come across a little uncomfortable for many buyers. But you’ll be amazed how great a deal you can strike if bargaining is your thing. Having done your background research on your choice cars, price and features, you can negotiate your way to a great deal. Start negotiations by offering to buy at a reasonably low price, then incrementally raise your offer until you agree on a price that works for your budget. Consider your alternatives, and feel free to walk away if the asking price doesn’t work for you. Since you are negotiating with other options in mind, you have the upper hand. Be firm on your position and be wary of salespersons offering you add-ons that will ultimately skyrocket the final cost of purchase.
10. Secure A Warranty
A warranty provides a safety net if you need to make major repairs post purchase. It makes sense to consider purchasing one when shopping for a used car, and even more so if you’re bent on cashing in on a car with a long history of repairs. Your ideal warranty should cover parts not already covered by your dealer or manufacturer. However, if the car you are purchasing still has an active manufacturer warranty for most of the parts, then it probably won’t be a savvy decision to invest in an additional warranty you may never need. So your warranty decision will largely boil down to the car you intend to purchase and guidance on warranty coverage by your dealership.
