More than 25 million vehicles are registered for use on the roads in Canada. If you’re of age, there’s an excellent chance that you’re either a vehicle owner or you’re in the market for one right now. Incentive abound for new vehicles, but something from the showroom is going to be more expensive than a pre-owned car. If you’re looking for a smart purchase to make the best use of your money, a used car could be on your radar.
But is it a good idea to buy a used vehicle? What should you watch out for, and how do you make your money go the furthest? We have some great advice from the experts in vehicle coverage at Carfuffle.
Used Cars Are an Excellent Purchase Right Now
In the used car market, resale value is one of the most important aspects to consider. What will your vehicle be worth down the road? Because of a decrease in pre-owned inventory, you might initially pay a little more than you might at other times, but when the time comes to sell your used car, its value is going to be higher than you might expect.
Some brands hold their resale value well all the time including Acura, Volkswagen, Honda, and virtually all pickup truck models. Choose one of these for a solid investment.
For an even higher resale value, cover your vehicle with an extended warranty from a reputable provider like Carfuffle. Regardless of age, make, or model, you’ll find an affordable package to fit your needs. And because that protection is desirable, your resale value goes up!
Interest rates are at an all-time low for used car purchases. That means you can get a high-quality used car for a price well below new PLUS finance it at only a few percent interest. Along with financing terms that can stretch to six or even seven years, you can drive a nearly new vehicle for much less than you might expect.
And because cars today are manufactured to a much higher standard than a decade or two ago, it comes down to preference more than anything. Almost any used car will last you for years upon years if you take care of it. Whether you spend $10,000 or $50,000, demanding 200,000-plus kilometers should be no problem.
Do Your Homework
Before you jump into buying a used car, there are a few important things to check. Do these four things to ensure you aren’t buying yourself a headache.
Find Out How Many Previous Owners There Has Been
Get a Carfax vehicle history report before anything. Not only will it tell you the car’s claims history and repairs, but it will indicate when the car changed hands. The more ownership changes, the higher likelihood there’s been a recurring issue.
Check the Title Status
Sometimes it takes awhile for the vehicle history report to update, so always check the title status in addition to a vehicle history report. Whether you’re purchasing privately or from a dealership, ask to see the registration and ensure it does not indicate that it’s salvage or rebuilt.
Take a Test Drive
Never buy a used car without first taking a test drive. You have to enjoy how the car feels from the driver’s seat plus you need to know that mechanically it’s operating as it should. Put the car through its paces and negotiate any deficiencies with the seller.
When you buy a pre-owned car, there are problems that can potentially arise. Engine, transmission, electrical, mechanical – it can be expensive to fix. No matter what year, make, or model, an extended warranty from Carfuffle will ensure you don’t have unexpected expenses that creep up. With a low down payment and comfortable monthly payments, Carfuffle extended warranty plans make car ownership easy and affordable.