Are you looking to buy your first used car? If so, you’ll need the run-down on the used car market. When buying Atlanta used cars, it’s important to consider the following things and take the process step by step. This will ensure that you get the car you need at the price you should pay.
Atlanta Used Cars vs. New Cars
Depending on the longevity you are hoping to get from your new-to-you car, you may be better off purchasing a used car rather than a new one. New cars are marked up because of the demand, and people are usually willing to pay a premium for vehicles that have never been driven. Unfortunately, the value of a new car depreciates very quickly after you drive it off of the lot.
If you think that a used car might be the best choice for your family, read through our step-by-step guide to prepare yourself for the process!
Steps to Buying a Used Car
Step 1: Take a Look at Your Budget
When you drive off the lot with your car, you will be expected to start making monthly payments on your used car – if you decide to finance it. Make sure that you start shopping with proper expectations about your budget for a monthly car payment. If you are paying in full for your used car, you’ll still need to set a limit – don’t drain your savings to buy a car outright.
Step 2: Consider Your Down Payment
Depending on many factors, you may need to make a down payment on your used car. Have this set aside and prepared before you go shopping. Generally speaking, a down payment of 500-1500 is a good amount. You may also wish to consider putting more down to lower your monthly payment. This step ultimately depends on your financial ability.
Step 3: Check Your Credit Score
If you need to finance part (or all) of your used car purchase, it is helpful to know your credit score. If your credit is excellent, you’ll probably experience less trouble finding a bank that will lend to you to purchase a used car. On the other hand, it might be a little bit more challenging to find a lender and car that fits your budget if your credit is low. Keep in mind that making successful payments on a car loan is one of the many ways to build great credit – so don’t rule it out!
Step 4: Ask What You Need vs. What You Want
It can be easy to get caught up in all the bells and whistles but don’t make your wallet weep green tears. Stick to your budget and set some boundaries for your used car shopping expedition.
Step 5: Go Shopping, But Be Careful
This is a critical point to make. It’s scary to think that some dealerships might hide information about a vehicle from you, but it has happened. Keep an eye out for the tells of bait and switch tactics – we have a whole blog post on this topic!
Step 6: Find the Right Car and Take Your Time
Once you see something you like, take the time to ask questions. When you’re shopping for a new car, we recommend that you check out our quick guide – this list of things to look for will help you pick the diamonds out of the rough.
Step 7: Get to Know the Vehicle
This might seem pretty obvious, but don’t leave with your used car without test driving it! When you test drive, make sure to take the vehicle on the highway. Get the car up to 60 mph and ensure there’s no rattling or loud ball-bearing noises. Look your potential vehicle over multiple times for any hidden issues – now’s your chance, so don’t waste it.
Step 8: Make Your Offer or Try to Haggle
Just because the price is set at 16,999 doesn’t mean you have to pay that! There’s no harm in offering under the asking price – the worst that the dealer can say is “no.” They won’t deny you the sale simply because you offered under the sticker price. If you decide to haggle, be prepared to go back and forth with an experienced sales representative; if you don’t want to deal with this, just stick to the sticker price.
Step 9: Get Approved for Your Loan
You’ve agreed on a price, and you’re ready to submit for the loan. Someone from the dealership will usually sit down with you and gather all of the necessary information; then, you’ll have to wait for a bank to approve the paperwork.
Step 10: Sign the Papers and Drive Home!
After the bank has approved you for your loan and you’ve paid your down payment, you can drive home with your brand new-to-you car! Congratulations, you’ve just successfully purchased a used car!
Where to Go for Atlanta Used Cars
Worried about going to a dealer that you can’t trust? Look no further than Cars@Wholesale. For more information about used cars and wholesale price purchases, check out our blog.