Many people choose to buy used cars because the cost of a new car isn’t affordable. There are those who buy used because they want to ensure that they don’t waste resources by buying new. Lastly are those people who just want to save money, even if they can afford to purchase a new car. Regardless of the reason that you’re buying a used car, you want to ensure that you buy yours from the right source.
You have two options when it comes to buying a used car. You can purchase a car from an individual, or you can go to a car dealer. There are some risks when buying from an individual. For example, there’s no accountability for an individual if they sell you a car that isn’t everything that they claim it to be. You can’t sue them for false advertising or for selling you a lemon. You’re stuck with what you purchase.
When you buy from car dealers, you’re able to get a couple of assurances for your vehicle. Lemon laws now extend to used car dealerships in most cases. This means that if you buy a car that doesn’t perform as advertised, or that experiences a lot of issues early on in your ownership, then you have some legal protection.
In addition, a car dealership wants to protect their reputation. They are unlikely to sell used cars that cause a lot of issues for the new owners. This can impact their bottom line as word spreads that they are known for selling bad cars.
Financing is another thing that you need to consider. You are unlikely to be able to get a loan if you intend to purchase a car from an individual. However, when you make a purchase from a car dealer, you’ll have an easier time finding a lender. In addition, many car dealers work with a variety of lenders so that you if you need to find a loan, you have plenty of options.
You’ll also want to consider your warranty option. When you buy a used car from an individual, despite what people think, you can purchase a warranty for that vehicle. In most cases, you’ll have to take your car into a mechanic and have them do an inspection. They will let your warranty company know if your vehicle passes inspection. If it does, you can purchase a warranty, but you will have to pay for it in full up front.
When you buy from a dealer, you’ll often have warranty options through them. What’s more, many will allow you to tack on the cost of the warranty to your loan if you don’t have the money up front to pay for it.
Buying a used car has many benefits. Buying from a used car dealer helps limit your risks and opens the door for loans, warranties and vehicle choices that you won’t get in other situations.