8 tips for buying a second-hand car
ALDRICH POLICARPIO
You’ve decided to purchase a second-hand car and started to hunt for one. The next steps will be a lot trickier than the car buying decision. Of course, you want a vehicle in the best condition possible at the lowest price. But just because you’re buying a second-hand car doesn’t mean you’ll settle for a huge piece of junk, right?
So you won’t end up regretting your purchase, be very meticulous and careful when buying a pre-owned vehicle. Here are some tips you need to know before buying one.
1. Research your options extensively
Before contacting sellers, make sure you arm yourself first with enough knowledge about the used car model you want to buy and its price range.
Ask for pointers and leads from your friends and colleagues who bought a second-hand car. Join car forums, especially the ones that focus on your target make or model, and ask questions. Check out the used car listings on car classifieds on newspapers and websites to know how much your preferred model costs.
2. Compare used car prices
As you browse through different buy-and-sell websites scouring through second-hand cars for sale, make a price comparison of the model you want to buy. Also, check out the specs of the lowest-priced units—they might have higher mileage or they might be older year models.
Planning to purchase a second-hand car through an auto loan? Compute first how much you’ll be paying for the interest and compare how much it will cost you versus paying the full amount in cash.
3. Check the mileage, too
During your research, don’t focus only on the prices. The cheapest used cars aren’t necessarily the best ones to purchase—they typically have higher mileage. The higher the mileage is, the older the car is. The older the car, the more parts you have to replace.
So be sure to check or ask the details on the mileage of the car you’re considering to buy. Avoid those cars with a mileage higher than 60,000 km. because these units’ parts are likely to be worn out.
4. Set a reasonable budget for the second-hand car
On top of the car’s purchase price, set aside an amount for the repair and replacement costs that will prepare the car for the road. TopGear columnist Andy Leuterio recommends allocating at least 20% of the used car’s price.
5. Dig deeper into the car’s history
The biggest risk of buying a second-hand car is its history. It may have been stolen, involved in a crime, met an accident, or flooded. How will you know about the service history of a pre-owned car? Here are some ways to find out.
• Check the car’s Certificate of Registration (CR) and Original Receipt (OR) issued by the Land Transportation Office (LTO).
• Ask for the anti-carnapping clearance issued by the PNP Highway Patrol Group.
• Verify if the car has a bad record in the LTO.
6. Check the used car thoroughly for red flags
Never agree to buy a used car without doing a thorough inspection yourself. Be as meticulous as possible—check not just the body but also every nook and cranny. Look for red flags that indicate the car has been involved in an accident or flooding.
Not confident with your vehicle inspection skills? Take the car to a trusted mechanic and let him do the job for you.
7. Don’t skip the test drive
Did the car pass your visual inspection? Good! The next step is test driving the unit. Insist on driving the car for a test—if the seller refuses, just walk away. You don’t want to waste your hard-earned money on a car that’s cheap but will cause you headaches in the long run.
8. Don’t forget to insure the car
If your newly purchased second-hand car doesn’t come with an insurance plan, you’ll have to buy one on your own before you take it out for a spin. Used cars, like brand-new ones, aren’t exempt from accidents that can drain your money if yours isn’t insured.
To find the right car insurance policy and save on costs, compare car insurance rates at MoneyMax.ph. Aldrich Policarpio is the Content Marketing Manager of MoneyMax.ph, the Philippines’ leading comparison website for insurance, credit cards, and loans. You can save money on your car insurance and get the chance to win a brand new Toyota Vios at the same time. For more information, visit https://www.moneymax.ph/learn-more/promotions.
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