If you’re in the market for a car, then you’ll be faced with a decision between buying new and buying used. In the UK, around seven million used cars change hands every year – which makes the market significantly larger than the new-car one.
By shopping used, you’ll minimise depreciation while giving yourself access to a much greater breadth of options. But you’ll also expose yourself to a few risks, which are worth anticipating. Let’s look at four key tips for buying used, via which you’ll be able to minimise the likelihood of problems.
Take the car for a test drive
If you haven’t driven the car that you’re buying, then you’re likely to run into unpleasant surprises. Never buy based solely on a few pictures online, or even an in-person visual inspection.
Get yourself insured for the day and take the car for a spin. Make sure that you take the car on a varied selection of roads, so that you can get a feel for it in a variety of motoring conditions. Pay attention to any unwelcome noises or handling problems. If the car doesn’t feel right, then walk away.
Check all the paperwork
Legally transferring ownership of the car from seller to buyer means getting the paperwork in order. You’ll also need to establish that the seller has the legal right to do this – especially if you’re buying directly from the previous owner, rather than from a dealer. Look at the V5C logbook and establish that the listed keeper is selling the car from the address listed.
Inspect the car thoroughly
While it’s not a foolproof process, you can learn a lot about the car and its previous owner by simply taking a look at it. Lift up the bonnet and inspect the engine. Look at the wear on the tyres, too. A few scratches might indicate that the previous owner was careless – which might give you reason to look more closely in search of other problems.
It might be that you’re able to detect minor faults, which might provide you with a basis to negotiate a discount. It might, on the other hand, be that you find a major fault. Better to find one now than after you’ve handed the money over!
Carry out your inspection in daylight on a clear day. But bring a torch, just in case.
Do your research
The modern internet provides an excellent place to research the purchase. Find out how much the make and model in question is going for elsewhere. This will allow you to negotiate much more effectively. A few minutes of research might help you to shave off a significant fraction of the total fee.
