Published: July 2020

Prepare a Check List for Your Used Car Purchase

Decisions might not be your forte but spending your hard earned dollars wisely is the only path to follow. Those decisions can not be successfully accomplished without a plan in hand. Purchasing a vehicle is a truly important undertaking and that effort should be given the respect it deserves by planning.

The planning process needs to be methodical and with a clear mind. Only you know what you need, what you want and how much you can budget for it.

Key factors to consider include setting a budget based on reality not fantasy for your car purchase. Most of us do not have the luxury of just purchasing and worrying about the payment obligations after the fact. Once the budget is created for your purchase you can then analyze what you need and whether it will be a new or used vehicle.

The one benefit of a new vehicle is it is new and has not been mistreated by a former owner. The downside is the insurance payments are much higher as they are based on the cost of the vehicle as are the taxes and that new car depreciates faster then water evaporates once driven off the lot.

Often a used vehicle might be gently loved and while it is not new off the lot that used vehicle can save many dollars on insurance and taxes. In today’s market the cost of a new vehicle runs many thousands of dollars and sometimes more then the purchase of a small house. Compare that to the few hundreds or thousands that a used vehicle costs. Even if it needs a little work you are still saving in a huge way. Would you not rather see those savings in your wallet instead of in the coffers of corporations?

Once you have made the decision of purchasing new or used then you should prepare to do some research. Read reviews, find features and models that appeal to you and decide what you need from your vehicle. For example, if you live in a snowy climate and work in construction you might choose a used 4-wheel drive truck. Or if you are driving children to school and soccer games than a used SUV or wagon might be suitable. How about the beach bum that just needs four wheels, an engine that is reliable and a rack for the surfboard. Needs, Wants and Budget restriction analyses lead to conclusive wise choices.