/What to Look for When Purchasing a Used Vehicle in NC
What to Look for When Purchasing a Used Vehicle in North Carolina
Tips for Buying Your Next Used Car
Buying a used car isn’t as difficult as it’s often made out to be. In the past, used car lots were places to be feared by buyers, worried they’re going to get a raw deal. But buying used cars for sale these days is pretty straightforward. We’ve put together a few tips here for getting the most out of your used car purchase. For even more guidance, contact our experts at AutoMax directly if you’re interested in a used car in Youngsville or used cars for sale in Durham.
Consider the Financing First
It’s a rare person who has the cash lying around to purchase a used vehicle outright. The rest of us turn to vehicle financing. Traditional dealerships consider your credit score when deciding whether to lend you money for a vehicle. Your credit score gives them a rough estimate of how well you've been able to handle credit in the past. Most dealerships use third-party lenders that have strict rules on who they'll allow lending to. The dealership doesn't have much incentive to get you a great deal and could be more likely to forward your financing application to lenders that offer them the highest commission.
Buy here pay here dealerships are the exception. As the name suggests, buy here pay here dealerships offer financing in-house so they don't have to bow to the rules of third-party companies. These car lots are therefore much more likely to be flexible on financing, so if you have relatively poor credit, you'll do better at a buy here pay here dealership.
The next consideration is the amount you'll need to pay immediately before you can drive the car off the lot. Again, traditional used car dealerships are behind the curve here, as they typically require a higher down payment than if you were buying a new car. Buy here pay here dealerships are more likely to be flexible. Consider the Tax Max program from AutoMax. Here, you pay just $89 immediately and pay the rest of your down payment after you've received your tax refund. The dealership even offers to pay for your tax preparation up to the value of $300, so you can be sure you receive the highest amount of refund on your tax.
Even outside of the Tax Max deferred seasonal payment program, buy here pay here dealerships excel at offering low down payments, since we’re more interested in your ability to repay the loan from your salary or other income.
Typical Financing Requirements
Simplify any financing application by having a few things on hand. Your current driver's license, proof of income, and proof of address are all useful documents that your lender will want to see.
Narrow Down Your Search Before You Visit the Dealership
Remove many of the decisions you need to make at the dealership by making them before you visit. You can save yourself and your salesperson a great deal of time by knowing what you want before you visit and sticking to your guns. Start by doing some basic research on the vehicle(s) you're interested in. What can you afford? What are the most important features to you? If you can, check that the dealership carries the type of vehicle you want. Most times, you can narrow down your selections to individual vehicles online so you can specifically point out the vehicle you want to test drive when you walk through the dealership doors.
Evaluating a Vehicle
If you've chosen a reputable dealership, you're unlikely to run into significant mechanical issues on any vehicle you purchase. Dealerships thrive on their reputation, so the vast majority of dealerships only sell roadworthy vehicles. If you're not the most mechanically minded person, bring along a friend who knows the ins-and-outs of cars so they give your prospective purchase the once over.
The vehicle history report can give you some excellent information on how the car has been treated in the past. It will include details such as the maintenance history and whether there has been any manufacturer recalls on the model.
Another consideration is the mileage of any vehicle you purchase. It can be a false economy to buy an older vehicle with poor mileage instead of choosing a newer model that'll save you money time and again at the gas pumps.