Buying
A Used Car:
Before you start shopping for a used car, do some
homework. It may save you serious money. Consider
driving habits, what the car will be used for, and
your budget. Research models, options, costs, repair
records, safety tests, and mileage through libraries,
book stores, and web sites.
Before you buy a used car whether from a dealer or
an individual:
Examine the car using an inspection checklist. You
can find checklists in magazines and books and on
Internet sites that deal with used cars; Test drive
the car under varied road conditions—on hills, highways,
and in stop-and-go-traffic; Ask for the car’s maintenance
record from the owner, dealer, or repair shop; Hire
a mechanic to inspect the car.
Paying for the car:
Most
people do not realise that they have capital locked
up in their property which could be used for buying
that special car of their dreams. Release the capital
tied up in your home with a home owner loan. The loan
can be used for any purpose, and is available to anyone
who owns their home. Home loans can be used for any
purpose such as, new car, home improvements, pay of
store card or credit card debt and debt consolidation.
Consider these suggestions:
Check publications at a library or bookshop, or on
the Internet that discuss new car features and prices.
These may provide information on the dealer’s costs
for specific models and options.
Shop around to get the best possible price by comparing
models and prices in ads and at dealer showrooms.
You also may want to contact car-buying services and
broker-buying services to make comparisons.
Plan to negotiate on price. Dealers may be willing
to bargain on their profit margin. Usually, this is
the difference between the manufacturer’s suggested
retail price (MSRP) and the invoice price. Because
the price is a factor in the dealer’s calculations
regardless of whether you pay cash or finance your
car — and also affects your monthly payments — negotiating
the price can save you money.
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