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There are roughly 40 million used cars sold every year. In light of COVID-19, the used car market exploded as people looked for ways to get around without relying on public transportation.
That boom can increase the price of used cars, but you can still get a bargain that’s not a clunker. You just have to know how to shop for affordable used cars.
Don’t worry, because we have to completely covered. Keep reading to find out all you need to know about buying a used car.
1. What’s Your Budget?
You need to make sure that you can afford your used car. Take a close look at your budget and decide how much you can realistically afford. You then need to decide if you will finance the purchase or pay in cash.
When you look at your budget, also take insurance and maintenance into account. A used car will require more maintenance than a new car.
2. Know Where to Shop for Affordable Used Cars
You have a lot of options when searching for used cars for sale. Some options are better than others.
You can buy a car from a private seller. There are a lot of risks involved because you purchase the car as-is. If something goes wrong, then it’s your responsibility.
Car dealerships are a better option. They often have certified pre-owned cars in inventory and have a warranty on the purchase of the car.
One option that many people don’t think of is rental car outlets. Some of the major rental car companies sell their cars for less than the Blue Book value of the car.
3. Research the Car’s History
You have to learn about the car’s history before you buy it. Run a search on the car’s VIN to see if the car was in an accident or if there are other issues with the title.
You can also research the value of the car. That helps you negotiate a better deal for the car.
4. Know the Lemon Laws
There’s always a chance that you buy an absolute lemon of a car. It is entirely possible that you buy a car that isn’t covered by lemon laws.
Lemon laws can be confusing because there are state and federal laws. The state laws are different from one state to the next.
Federal lemon laws only cover used cars that are sold with a warranty. Make sure you protect yourself and learn the lemon laws in your state before buying a used car.
Ready for Your Next Car? Get a Used Car
So, you want to buy a used car. It’s a smart choice because affordable used cars are easy to find. You do need to do your research and know the car’s history.
Once you arm yourself with information about the car, the value, and local lemon laws, you protect yourself from scams.
For more fun tips to live a better life, visit the Lifestyle section.