Buying A Used Car - Make A Smart Decision - Autos - Cars

<p>Most new cars lose $1,000 to $2,000 of their value the second you drive them off the lot. That alone means buying used can be a very smart money decision.</p>

<p>But the loss in value in the first three years is what really counts. Most new cars are worth only 60 to 70 percent of their original price within three years. Thats a big price to pay for that new car smell.</p>

<p>That said, buying a used car is a bit like rolling the dice. Somebody else owned it and did things to it that you might not know about just by looking. Hes also selling it for a reason. Was it submerged in a river for a few days?</p>

<p>So you need to do a little more due diligence when buying used in order to save yourself hassle and headache.</p>

<p>First, have your own mechanic check it out. Make an appointment and leave your current car with the seller as collateral. If your mechanic gives the prospective vehicle the thumbs up, youre in good shape. You can get good deals on used cars on eBay, but your risk goes way up when you have to buy a vehicle without getting it checked out. And definitely never sign a contract or hand over any deposit money until youve had the car checked out.</p>

<p>Second, check the history of the car. You can do that by the VIN number. Visit , pay about $25 and youll get a report on the car youre considering. This wont guarantee you dont get a lemon, but the report will show you things like the actual mileage on the car (trusting the odometer is not wise). When you combine the CARFAX report and your mechanics inspection, you can be pretty confident youre getting what you think youre getting.</p>

<p>Third, consider where youll buy your used car. Will you buy from an individual or from a dealer of some kind? You might get a great bargain buying from an individual, but that bargain might not be as good as you think. Dealers often have certification programs for their used cars, and might even give you a warranty. That can be worth the higher price you might pay.</p>

<p>Fourth, pay the right price. This is a little subjective, but there are some reasonable guidelines you can follow:</p>

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<p>Buying a used car does not have to be a risky strategy, just like buying new is not necessarily risk-free. If you do the due diligence youve just read about, you can buy used, which is probably the smartest car purchase you can make.</p>

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