Things to Know Before Buying a Used Car

Car payments have always been financial quick sand in my household. It's a sinking feeling when the majority of your monthly payment is going towards interest every month. By the time we paid off a vehicle we had paid for it three times over. More people are also starting to realize that having a car payment is a big financial burden. This is especially true for people who have a nagging vehicle payment along with costly repairs on a monthly basis. It can be very frustrating to be weighed down with a car payment while driving a un reliable vehicle at the same time. Before you know it your in a money sand pit. It can feel as though you're working just to pay for your car. There is a way to get out of this financial trap. However please remember that while it can be enticing to get rid of your car payment quickly, making this decision takes careful planning and self discipline.

The first step is to carefully evaluate your budget. See where you can cut costs in order to set aside money towards a new vehicle. If you're living on one income it may even be a good idea for you or your spouse to get a part time job, you can use the extra income to set aside every month, and save everything from this job at least until you can reach your goals. It can take time to save up money for a new car depending on how much you can realistically put away each month. This is the part that takes self discipline. Let's pretend that you have $400 per month to put in your savings account. If the vehicle you want costs about 5k then you will need to save for just over a year to get the car you need. When you put money into savings it's important to leave it there. Let it add up and avoid spending it unless you need it for an emergency. Pretend the money isn't even there. Once you've saved up enough money for the vehicle that fits the needs of your family, there are few things you should consider before buying anything. In most states the "lemon law" only applies if you buy a vehicle with a warranty. I know this from first hand experience because my husband and I bought a "Ford Exploder" with no warranty. The vehicle started to have issues less than 30 days after our initial purchase.

Before making the final purchase make sure that you have done everything in your power to protect yourself and carefully evaluate your decision. It should never be an impulse purchase. There are many things to consider when buying a used vehicle so I will go over some of the top things to do before making this type of investment.

Check the Value

Many people attempt to sell their cars for far more than they are worth. Let's face it a lot of people are out to make a buck. When you find a car that tickles your fancy be sure to check the blue book value at www.kbb.com. Kelly blue book is a trusted resource that many consumers use to help them determine the value of cars, boats and other items. They typically show three different values for a particular vehicle. The value can depend on several different factors such as the year make and model along with the condition of the vehicle and of course the mileage. Trade in value is also calculated differently.

Get an inspection done

If the car you decide on is sold with an "As Is" warranty this eliminates all responsibility of the dealership in the event that anything would go wrong with the vehicle once you drive it off the lot. This is typically always the case when you buy a car from an independent person. Be sure to have a full vehicle inspection done at an auto repair shop to be sure that you're getting a good deal. In most cases an inspection only costs about $50 and is well worth the cost. It can also be helpful to get the maintenance record from the seller because this can give you a good indication whether oil changes and other things were taken care of. A car that has been well maintained tends to last a lot longer.

Take her for a spin

Before buying take the car out for a test drive because not only do you want to make sure that it runs great, but you also want to be sure this is the car for you. How does it feel behind the wheel? Do you feel as though it's roomy enough for you and the entire family? My husband and I are both tall and we tend to favor vehicles that provide more leg room such as vans, trucks and SUVs. Test driving can also help to pin point any potential safety issues that may need to be addressed right away, like new breaks.