Financial Resources

Car Buying … (Page 2)

  • During the test-drive, drive the car on:
    • The highway
    • Up a steep hill
    • On local streets
  • Have the car thoroughly inspected by a qualified mechanic.
    A used car won’t be perfect and will probably need repairs. Determine the nature of any major or minor repairs, if they need immediate attention or can be done later, and obtain the costs for the repairs.
  • Don’t buy a car that had major repairs like a rebuilt transmission.
  • Look at a number of cars. Don’t buy the first car you see. Find a car that suits your needs. For example, a small sports car isn’t appropriate for a family of five.
  • Purchase a car for its reliability and dependability.
  • Don’t be pressured by a used car salesperson.
  • Determine the retail value of the used car by researching used car price guides such as NADA (National Automobile Dealers Association) or Kelley Blue Book. You can purchase the guides at bookstores, locate them at public libraries, or find them on the Internet. NADA’s web-site address is www.nadaguides.com and Kelley Blue Book’s web-site address is www.kbb.com.
  • Negotiate the sales price. The dealer or individual seller has assigned a value, purchase price, to the vehicle. You, too, need to decide upon value of the vehicle. Make an offer that you think is reasonable, which in many cases is lower than the seller’s asking price.
  • Ask for a warranty.
  • And finally, since you’re paying for the car, be sure to take your time and shop around to find the best car and deal for you!