All You Need To Know About Buying A Used Car

Shopping for a used car can be a smart financial move—but only if you know how to navigate the process. From budgeting and research to test drives and negotiations, buying pre-owned wheels requires a bit of strategy and a lot of know-how. Whether you're a first-time buyer or a seasoned shopper, this step-by-step guide will help you steer clear of common pitfalls and drive off with a deal you can feel great about.

Step 1: Crunch the Numbers

How are you paying for your new car? If you’re paying cash, you already have a car budget in place. If you’re taking out an auto loan, we can help determine how much you can afford.

Also consider getting pre-approved for your loan before visiting the dealer’s lot. 

Step 2: Create a Target List

What make and model car do you want to buy? Check out Consumer Reports and AutoSMART for reliability ratings on vehicles from the most recent model years. Aim to narrow your choices to three or four model cars.

Step 3: Research

Start researching prices and listings for your vehicles of choice. Visit a site like Cars.com to get started. You can find used cars for sale in any of these locations:

1. The used-car section of new-car dealerships
2. Used-car dealerships
3. Used-car retailers like CarMax.com
4. Websites like Craigslist where car owners privately sell their vehicles

When researching cars and listing prices, determine the average asking price for each car.

Next, find out all you can about each vehicle with a vehicle history report from Carfax.com.

Step 4: Call the Seller

Contact the seller to verify the information you’ve learned about each car. If you’re using a private-party seller, ask about any possible mechanical issues. If you’re working with a dealership, ask if the car is still in stock and for any information you couldn’t find on your own.

If everything checks out, set up an appointment for a test drive.

Step 5: Test Drive

Pay attention to these details during your test-drive:

• Is there sufficient legroom?
• Is the ride smooth?
• How is the acceleration?
• Does the “check engine” light stay on?
• Do you have full visibility?
• Are the brakes working well?
• Do all the lights work?

Next, ask for the vehicle’s service records to determine if it’s current on scheduled maintenance.

Step 6: Have the Car Inspected

Having your car inspected by a mechanic can save you loads of aggravation and lots of money down the line.

Step 7: Negotiate

Make an opening offer based on the average price for your car and use all the information you’ve learned about your vehicle as bargaining chips. Be firm and you will end up with a fairly priced vehicle.

Step 8: Make it Official

• If you’re buying your car off a private-party seller, make sure the title and registration are officially transferred to you.
• If buying from a dealer, give careful thought to any extra protection that may be offered (and consider talking to us here at HVCU), as we can also help you pick the right loan and/or auto protection].
• Finally, read the contract carefully and make sure you have insurance before you drive off the lot.

Once you've done the above, you’re all set to take your new car for its first spin!

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