Have you always had a love of European luxury cars such as a BWM, Audi, Lexus or Mercedes but not loved the higher price tags these new vehicles come with? A great alternative to get you behind the wheel is purchasing a preowned vehicle.
There are many advantages to buying a used car such as a lower initial purchase price and cost of insurance. Following these tips can help reduce the risk of troubles down the road and making sure you don’t get taken for a ride.
One of the first and most important tips is obtaining the vehicle history. This can be done through a service such as Car Fax or Auto Check. This report is based on the vehicle’s VIN number and will give information such as recall, major accidents, and title information. The report will not provide a history of the service maintenance such as tire rotation and oil changes. Ask the seller if they have access to this information so you know the vehicle was properly maintained.
Check interest rates for car loans and get preapproved. You do not need to get financing through the dealer (often they make more money when you use their program). Shop around at your local credit unions for the best rate and you will know what you can comfortable afford before you even start looking.
Look for cars that have Certified Preowned (CPO) warranties. This could save you a tremendous amount of money should your car require a major repair. You may find the same car without the warranty for a lower cost, however, it is important to consider the overall value of the warranty , what it covers and how much it can save you in repairs.
Websites such as Kelly Blue Book, Nada and Edmunds are the industry standard guides for both consumers and dealers. Also use websites such as cars.com to confirm the market value of the vehicle you are looking to purchase.
When inspecting the vehicle be sure to check the tires and brakes. If they look worn you can negotiate with the dealer a limited warranty to cover these.
Be sure to take the vehicle for a good test drive to not only see if you like driving it, but to look, feel and listen for any possible issues the car may have. It’s advised to not purchase a vehicle that has been used as a taxi, rental or emergency vehicle. These tend to be mistreated and require major repairs.
Finally, and most importantly, work with a dealer that you trust. This can be either through a long-standing relationship or from a referral. When you work with a trusted dealers you know you are getting the best price and the best service. We recommend Buying from an established family owned company will give you the peace of mind that your BWM, Audi, Mercedes, VW, Porsche or Lexus will give you many miles of enjoyment with our the service hassles.