How to buy a used car? What are some things I should be careful about?

[Shunpike]

My lease is ending and to be able to save some money for kids' college fund, I decided to get a 3-4 year old used car for under $10,000.

I plan to pay cash thru my savings. I know I should hunt for a low interest rate but I rather pay in cash and forget about car payments.

1) What is the best way to go find a used car?
2) What are some of the things I should be careful about?

Thanks in advance my friends.

 

[StarMan2112]

Suggest reading this:
http://www.agcoauto.com/content/news/p2_articleid/285

AGCO is a large automotive repair shop in Baton Rouge. I listen to their weekly podcast and they really know their stuff. The above link also includes a used car checklist.

 

[MileyDancer]

Most important thing is to be patient. Look for deals. Do research. I bought a 2014 Sentra last year with 18,000 miles, screen, navi, and Sirius for 15 out the door. It took me 3 months to find the right car at the right price.

That would be my advice.

 

[Joe Realist]

1.cash will be your friend for negotiation
2. do a car fax or something similar (though not all accidents are reported)
3. look into certified used cars (no accidents - might pay a little more, but they can give a 1 year warranty)
4. check paint for mismatch or overspray as it may have been in a fender bender
5. have your mechanic check out the car
6. check Consumers Reports for track record, reliability
7. Check if car has any recalls and when they were done
8. Once price agreed on - ask for extras like touch up paint, all weather mats
9. rule of thumb - don't buy last year before model change or first year of model change
10. If you disagree, ignore all above and wing it!

 

[Supercowboy1986]

1.cash will be your friend for negotiation
2. do a car fax or something similar (though not all accidents are reported)
3. look into certified used cars (no accidents - might pay a little more, but they can give a 1 year warranty)
4. check paint for mismatch or overspray as it may have been in a fender bender
5. have your mechanic check out the car
6. check Consumers Reports for track record, reliability
7. Check if car has any recalls and when they were done
8. Once price agreed on - ask for extras like touch up paint, all weather mats
9. rule of thumb - don't buy last year before model change or first year of model change
10. If you disagree, ignore all above and wing it!

This. I've gone down the certified pre owned route and it's been a real nice experience. I bought my 14 ATS luxury trim (nav, backup camera, custom paint job, sunroof etc) for 24k and it had 15,000 miles last year. The cool thing about a certified pre owned is that they extended my warranty for 3 years and perform an inspecion to ensure everything was in good working order before I took it. It also included free maintenance at any Cadillac dealership (oil change, tire rotations, Electrical etc.)

 

[Joe Realist]

This. I've gone down the certified pre owned route and it's been a real nice experience. I bought my 14 ATS luxury trim (nav, backup camera, custom paint job, sunroof etc) for 24k and it had 15,000 miles last year. The cool thing about a certified pre owned is that they extended my warranty for 3 years and perform an inspecion to ensure everything was in good working order before I took it. It also included free maintenance at any Cadillac dealership (oil change, tire rotations, Electrical etc.)

I agree. A CPO is a nice way to go, especially if you want all the extras - basically the first owner paid for them.

 

[John813]

Yup. CPO and once you find 3-4 cars you like that are in your range, research.

Search car forums, see if any have any common issues that could be a headache later on(warranty or not).

Check to see how often the car was serviced, and if it was in line with the manufacturer recommendations. (carfax or receipts of proof of work done)
Carefully check the car to see how it was cared for. "Cheap" car or not, I would want a car that someone at least cared for.

 

[Shunpike]

Thanks guys. CPO it is. I have my eyes on Hyundai and Kia. Cheaper than Japanese brands and have long guarantee times? What do you guys say?

 

[Hardline]

This may only apply to buying brand new but before I bought my Toyota Tacoma.I emailed 5 different Toyota dealerships and got them in a bidding war for my business.

 

[RS12]

If you are a Costco member you can buy it through them and get best price. Heard members bought over a half a million cars through them last year, new and used.

 

[Phoenix]

What about used rental cars? Anybody ever do that?

 

[maxdogg]

Low mileage man. I bought a kia sportage cash with only 37,000 on it it was a sweet deal just make sure the mileage is low.

 

[StarMan2112]

Thanks guys. CPO it is. I have my eyes on Hyundai and Kia. Cheaper than Japanese brands and have long guarantee times? What do you guys say?

CPO is just a marketing tool to jack up the price. No real value imo.

I also wouldn't buy Korean made. A friend of mine has 2009 Hyundai Sante Fe. He's had some trouble with it and also some hassle from the dealer over what their "great" warranty will cover. Toyota or Honda are your best bets.

 

[RS12]

Thanks guys. CPO it is. I have my eyes on Hyundai and Kia. Cheaper than Japanese brands and have long guarantee times? What do you guys say?

The flip side is that the resale on the Japanese car is better. Holds its value better. Bought a Camry 6 years ago for 21k, 6 years later its still woth 10.5k Wont get that on the Korean car. 83k trouble free miles so far.

 

[Shunpike]

CPO is just a marketing tool to jack up the price. No real value imo.

I also wouldn't buy Korean made. A friend of mine has 2009 Hyundai Sante Fe. He's had some trouble with it and also some hassle from the dealer over what their "great" warranty will cover. Toyota or Honda are your best bets.

My wife's car is Honda Accord and we love it. Honda's second hand cars are pretty expensive so I am after value. Korean cars have great value but I never owned a Korean car so I don't know how reliable they are compared to Japanese cars.

 

[MichaelWinicki]

My wife's car is Honda Accord and we love it. Honda's second hand cars are pretty expensive so I am after value. Korean cars have great value but I never owned a Korean car so I don't know how reliable they are compared to Japanese cars.

We own a 2008 KIA Rio.

Nice little car.

Korean cars have come a long, long way in terms of quality.

I'm considering buying another.

 

[strollinruss]

I love this topic! I want to be a car dealer in my next life, love searching and buying/selling, ect.
I'm actually in the trucking business and have bought many, many used vehicles in my time.
When I'm in the market for a certain type truck/vehicle I usually already know the market and what's out there. The best used cars I've bought have been from individuals not dealers. Spend plenty of time in Craigslist and eBay. You can tell by talking on the phone to the person who owns it if they are full of crap or a sorry person. If you have any doubt that the person doesn't take care of their stuff, move on. It's real easy to smell BS.

 

[Dallas_Cowboys50]

Make sure you test drive it on a highway, not just city streets....need to make sure that transmission is healthy and shifts into all gears....a lesson I learned the hard way....