Huffines Kia Corinth

Receiving Lower Dealership Fees

Another benefit you might notice when choosing a used car is paying lower dealership fees. One reason for that is that some states have higher sales taxes than others and pricier dealership fees associated with more expensive vehicles. By considering a used vehicle, you might walk out the door paying a little less on the dealership fee than you would have when choosing a new car.

Learning the Car's History

It can be extremely beneficial to learn about your car's history before choosing to seal the deal. Years ago, it was harder to be sure about your car's previous history, but today there are multiple outlets available at your fingertips to help you quickly determine your car's prior accident history, mileage, and the number of previous owners. This can be beneficial in helping you decide if a car you're interested is right for you before taking a trip to the dealership.

Spending Less Money

Possibly one of the most obvious benefits of choosing a used car is its overall lower cost since the value of your money often goes further. For example, if you plan to spend $25,000 on your purchase, you might have more purchasing power when finding a used car. You can look for a used vehicle with more extravagant features and get more bang for your buck than you might if purchasing a brand new car.

Knowing the Car's Value Depreciates Less Than a New Car's

When you drive a new car off the lot, its value immediately depreciates. In contrast, when choosing a used car, the value of the car depreciates a lot more slowly because it's already faced most of its depreciation. With a used car, you'll often find that the loan-to-value ratio is more balanced because the car's value won't go down quickly once you've purchased it. In fact, with the current demand for used cars being so high, your car's value might increase by the time you are ready to sell it.

Tips For Finding the Best Used Car

There are a few suggestions you can use to help you find the best used car deals near you, such as:

Doing Your Research

After you've decided you're interested in a used car, do some thorough research. Decide what type of car is going to best mesh with your lifestyle, location, and budget, and browse online to find relevant models. After you've found a few models that pique your interest and are within your price range, do a deeper dive to ensure you know a fair price for the car before going into a dealership. This information can help you when negotiating prices later on.

Reading Reviews

After you've narrowed down the selection to the top few cars you're interested in, take time reading online reviews about the pros and cons of each. Some websites allow you to compare different models side by side. As you compare them, write down your own list of advantages and disadvantages for each car to help you more easily separate them from the "maybe" pile to the "yes" or "no" pile. Hopefully, by the time you're done, you'll be able to focus on one or two different models when you begin actively searching at dealerships.

Asking for the "Out the Door" Price

Rather than telling sales reps what your monthly payment goals are, try asking for an out-the-door price. This consists of all the costs associated with the car, such as taxes, fees, and any other extra charges not seen when you're simply looking at what the monthly payment might be. Knowing the out-the-door price gives you a more precise breakdown of each charge and allows you to compare that amount to that of other dealerships in the area to help you get the best deal on a used car.

Being Patient But Ready To Buy

It can be tempting to purchase the first car you see that matches the description you're looking for, but it's essential to make sure it has a clean history report and fits your budget. Once you've found one that ticks off all of your boxes, go to the dealership that day and have a look. Used vehicles are in high demand, so if you've found one you like, take it for a test drive and confirm the out-the-door cost. If everything aligns and the history report is satisfactory, you can make an offer that day.