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I tried in every way imaginable to get someone else to take responsibility. But it became apparent that anyone else would head to a used car lot, find a car that they “loved” and could afford, and buy it without digging deeper into the history, maintenance and reliability of the car. I finally gave in and began what will be known as “my year of living dangerously learning about cars.”
Although my search is not over yet, I have gained valuable knowledge about how to buy a used car.
- A new car can lose up to 20% of it’s value the second you drive it off the lot, per Edmonds.com (a fabulously helpful site for anyone researching cars).
- It is vital to have someone you trust (a mechanic) thoroughly check out any used car you are thinking of buying prior to purchase. Before you do that, however, look for evidence of undisclosed repairs, funky smells, neglect, or oil leaks. Don’t buy someone else’s problem.
- Unless you totally trust the owner, check the history of the car by running the VIN (Vehicle Identification Number) through a service such as Carfax.com. This service will tell you the number of owners, reported accidents, flood damage and last reported odometer reading.
- When looking at how much car you can afford to buy, consider the true cost of owning a car, which is much more than the price you pay for the vehicle. After that are the taxes, registration, insurance, maintenance, tires, gas and the occasional ticket.
- The make and model of the car seem to impact the cost of insurance more than the year, current mileage or the price you paid. Make sure you check with your insurance carrier to get an estimate on what your insurance will be before you purchase the car. You can also check online at the various insurance company home pages to get a quote. I discovered that the 1999 Lexus RX300 I was contemplating was going to cost almost as much in insurance as the 2006 Ford F150 truck. Who knew?
- CarMax is a great place to go to “try on cars.” The sales pressure is really low and they have a ton of different kinds of cars on the lot. They have a no haggle policy on the price so you won’t have to haggle with a car salesmen, but you won’t get an INCREDIBLE deal. However, if I only had one day to buy a used car, I would go to a CarMax to get it because I know they would have something on the lot I would like and feel secure in buying.
- The keywords I use to search for a reliable used “for sale by owner” car on Craigslist are “owner low miles.” I think the best used car is one that has been owned by only one person who knows the car’s history, has personally taken care of it, and has maintenance records.
I’m still looking for my ideal cars, but I have learned soooo much since I started my search. The last car I bought, I didn’t even know (or care) about how many miles it had on it. I didn’t realize that it mattered.
Do you have any good tips for me on finding my cars? What has worked for you?
Welcome to Bargain Babe! I’m Mara, and I’m so glad you’re here. I am an obsessive bargain hunter and penny pincher, and I am determined to live a full life without EVER paying full price.
Shop on a rainy day…NEVER buy the first time you visit…look around…don’t zone in on the one you want…wander around…then ask for their best deal on the car you’re interested in, but don’t be too interested.
Then, give them your offer…give them your phone number…and GO HOME.
90% of the time, they’ll call to accept your offer, (as long as it’s reasonable)
@Elizabeth Why shop on a rainy day?
I compared a lot of cars when I bought my 2003 Mini Cooper used. I made a chart comparing all the relevant data, like price, year, mileage, No. of previous owners, VIN report, color, condition, etc.
I was lucky enough to have a friend who knows a lot about cars come along on two test drives. He pointed out things I never would have noticed. One car had 25,000 miles on it but had already needed new brakes. He thought the previous owner had been driving it really hard for that to happen. Also, little things were neglected, like a back brake light that had been cracked so long there was sand in side.
On another test drive, he noticed the engine was squeaky clean, which matched with the sellers stories about being uptight about fixing every little thing.
I highly recommend finding someone who is knowledgeable about cars to come along with you on test drives. I’m still driving my MINI and am very happy with it.
Julia
Wow, you’ve put a lot of research into this!
We are in need of a vehicle that has 7-8 seats. We would rather save up and buy it all at once. Maybe that way we can use it as leverage and lower the price! We also like Edmonds!
@A.F. I totally agree with you. I think walking in with cash in hand will give me an edge to get a better price. The seller knows that there are real green backs waiting to jump into their hands. If they want the money, they will be more willing to agree to my price. (I think.)
We have bought several used, almost like new, rental cars from Hertz. The cars are about a year old and include the remainder of the manufacturer’s warranty. From what I understand, they only sell the best of their fleet, about 20%. They will reduce prices from time to time. I recommend Hertz over the other rental company sales. You can check their website for a listing of available cars, but it may not be complete. In May of 2009, we got a 2008 Hyundai Elantra, loaded, 23500 miles, for $9950. It had been reduced twice. I recommend you get your own financing rather than use theirs which will be on the high side. No hassle shopping. They show you the repair/service record for the car.
@Laura I’ve been thinking about really checking into buying a used rental car. I was uncertain about buying something that had been driven by so many different people. Unfortunately, I know someone that is a stunt driver who will rent cars to “practice” on. This makes me a bit scared about the wear and tear factor. I do like the idea of renting the kind of car that I want to buy so that I can take a REAL test drive in the make and model. Did you do that?
@BB: I am not in the market to buy a car, but only recently I have become very attracted to the Mini Cooper–so cute! However, my husband would never permit me to get one for at least one reason: its smallness makes it unsafe, a not-shabby reason! We always check the various insurance and highway safety test scores before purchasing a car. Did you consider safety when you purchased yours?
@Laura: Why do you recommend Hertz over the others?
@Anyone: How does Carfax work? I mean, how many of us has filled out such info when trading in a car or selling to a private party? Who participates? How do we know the records provided are legit?
@Diane: Regarding safety – I have taken this somewhat into consideration. One of the cars that I am looking to buy needs to be a real gas saver, so at first, I was looking at the Smart Car, but when I started to look into it, I realized that it was just too small for highway driving as far as I am concerned. Overall, cars are so much safer than they used to be that I haven’t done extensive research into the safety ratings. Now that you have mentioned it…I guess I have another area of research. Thanks – I think.
Hi Bobbisbargains,
I didn’t rent the kind of car I wanted first. I narrowed my choices down to three cars..Hyundai Elantra, Toyota Corolla, and Honda Civic. I eliminated the Honda because it is very difficult to find this car at rental sales, they are pricey, and tend to have high mileage since owners keep them longer. When I started to compare the Elantra to the Corolla, the Elantra proved to have many more extras, and reviews were excellent. I did test drive the car at Hertz when I went to see it, and bought it right then. I had read reviews on Edmunds and Kelly Blue Book. Hertz rental sales cars have lower mileage and are better priced than other rental sales. I didn’t drive the Elantra at a dealer before going to Hertz. I went to one dealer and got the classic sales game, so I decided then to get a car at either CarMax or Hertz. If you are unsure what kind of car you want, yes go and take a test drive. And it is possible that some rentals are used for stunts, but I know Hertz stands behind their cars. They only sell the best of their fleet.
Haven’t seen responses to my questions asked of BB and Anyone three days ago. ???
@Bobbisbargains: I actually was asking Bargain Babe about safety research when she bought her cute Mini Cooper. That’s also part (a vital part!) of being a savvy shopper. In response to your comment, I don’t understand how safety is not a top-priority issue on everyone’s car purchase list. Yes, many cars are safer now than they used to be, but that doesn’t immunize them against crashes with the many larger vehicles on the road as well as vehicles driven by phone talkers, text messengers, drunk drivers, and plain bad drivers. I think we tend to have a false sense of security unless we have had the misfortune of being involved in a serious accident. (Gratefully, I haven’t.) In my opinion, it is NOT smart to buy a Smart Car or ANY car that doesn’t earn 5 points on the critical areas tested in the crash tests performed by the Insurance Institute for Highway Safety, for example. (The IIHS also has results for older cars.) What can be more vital than the safety of our loved ones and ourselves? Okay, I’ll get off my soapbox now.