Buying a used car can be a wise financial decision when you consider how much a new car can deprecate in value the second you drive it off the lot. That said, at The Law Offices of Larry H. Parker we urge everyone buying a used car to be diligent and find the right car for them.
Not only can buying the wrong car lead to a financial disaster, it can increase your chances of being in a car accident. Keep reading to learn about some of the most common mistakes people make when buying a used car. If you have been injured in an accident and need the help of an experienced personal injury attorney, call us at 800-333-0000 for a free legal consultation.
Not Knowing What You Can Afford or What Your Credit Score Is
There are many free apps now that can do a soft pull and get you a fairly accurate credit score estimate. This does not hurt your credit and it does give you an idea of how likely you are to be accepted for a car loan. You should also know what you can afford. Do not just think of the monthly payment, think about the cost of taxes, registration, transfer fees, and insurance.
Not Doing Your Homework
Even if you are a compulsive shopper in other areas of your life, you do not want to be for a car. Do your homework and research the options. If you can narrow it down to a style of car, such as a sedan, look at trusted sources to see the best and worst models from the timeframe you are shopping with. Keep an eye out for recalls or any evidence that a particular car you may be considering is unsafe.
Not Getting Enough for Your Trade-In
If you do not know how much your trade-in vehicle is worth then you can count on likely getting less for it than it is worth. You should look up the value of your vehicle. There are a number of reputable websites that will give you the price if you were to sell it to a third party and the price if you trade it in. Do not expect to get the same price trading it in as you would get if you sold it to a private seller.
Not Being Will to Buy a Car That is Less than Perfect
While some are too quick to buy the first car they see, others are afraid to make a decision. They will look at car after car, none quite good enough for what they want. Know what your price range is and know what it is reasonable to get for that price. It is likely that you will not get a perfect car.
If you have issues with your new used car and it results in an accident, you may have a case against the company that sold you the car. Call The Law Offices of Larry H. Parker at 800-333-0000 now for a free legal consultation.