It’s no secret that over the last few decades, automotive manufacturing has evolved tremendously. Whereas once it was common for carmakers to offer a variety of models with different levels of performance and luxury, they typically produce only one model in an increasingly narrow range of engine sizes and derivatives.
First, you’ll want to ensure your credit score is high enough; A high-credit score will help you get a better interest rate, lower down payment requirement, and more favourable credit terms. If your score is less than 580 on the FICO scale, it could be time to reflect on what you’ve been doing with your money because your credit history will show this.
Next, find out what the actual trade-in values are in that area. You don’t want to lose part of your investment by purchasing a vehicle with subpar value.
The next step is finding the lowest price that keeps you within your budget. If you are set on a specific make and model, look at all the pricing differences among the vehicles that fit what you want. Check out these cars’ Kelley Blue Book values (KBB.com) and see if they measure up to what others are selling for.
If you are a bit more flexible with your budget, don’t forget about the extras like miles per gallon that affect the purchase price.
Additionally, used cars in austin are often in worse condition than new ones, so look carefully at the vehicle’s body. If there are significant rust spots, or dents and scratches, you can expect to have to spend extra money on re-paint.
Shop around for those hidden fees and taxes that can add up when buying a used car. Make sure you know what you’re getting into regarding maintenance and upkeep before you buy it.
Lastly, don’t forget that if you’re buying a car that is more than 10 years old with an original engine, you’re already dealing with high gas prices so look for something other than a gas guzzler.