Four Essential Steps for Buying a Used Vehicle

Navigating the used car market can feel overwhelming for many buyers. Thankfully, the internet offers abundant resources to assist in finding the right deal on pre-owned vehicles. This guide highlights four key factors to consider when purchasing a used car or truck.

Keep reading to learn more.

Budget Considerations
Financial experts recommend that if you're financing your purchase, the monthly payment should not exceed 25% of your net income. Used cars generally allow for more economical options, helping you stay within your financial limits.

However, account for additional ownership costs such as maintenance, fuel, and insurance. Select a vehicle that aligns with your overall budget, keeping expenses within the recommended 25% threshold.

Make a Shortlist of Vehicles
Prices vary significantly between brands and models—sometimes by thousands of dollars. Create a list of potential options across different brands. Industry experts suggest narrowing your choices to three vehicles within your price range. Evaluate each based on specifications, age, mileage, and condition before making a decision.

For cars less than five years old, consider certified pre-owned (CPO) options, which often provide additional warranties and assurances.

Review Vehicle History Reports
Once you've selected a preferred car and contacted the seller, obtain a vehicle history report. This document reveals important details about the car's past and can influence your buying decision. Services like AutoCheck or Carfax provide comprehensive vehicle history data. You'll need the vehicle's identification number (VIN) or license plate to access this information.

Conduct a Test Drive
Testing the vehicle is a vital step in assessing its suitability. During the test drive, evaluate comfort, handling, engine response, and overall performance. Open the hood to inspect electrical systems and engine components. For an in-depth evaluation, consider hiring a professional mechanic for an inspection—though it may involve additional costs, it can uncover hidden issues not evident during a casual drive.