It’s coming up for that time of year again when students are finishing school, heading off to varsity, and needing their own transport to get around. Here are some pointers if you’re in the market for buying a used car – for your teen or even the family.
Whether it’s privately or via a dealership, buying a used car comes with a certain amount of risk. However, if you know your budget, do your research, and know what to look for, you could find yourself a bargain.
Most importantly, know your budget. “Remember to include car insurance and fuel costs in your budget,” advises Barend Smit, Marketing Director of MotorHappy, a supplier of motor management solutions and car insurance options. “If you’re purchasing an out-of-warranty car, a maintenance plan and extended warranty offers peace of mind and limits financial risk.”
MotorHappy’s online Affordability Calculator helps consumers with pre-approval, and if motorists are looking for finance, the MotorHappy finance calculator helps figure out how much the monthly repayment would be. MotorHappy also offers Service Plans, Maintenance Plans and Extended Warranties, all important products when purchasing a used car.
Once you’ve narrowed down your budget, begin shopping for your previously loved vehicle. Here are some tips for buying a used car:
1. Take the car for a test drive and inspect it thoroughly. A physical inspection of the car you choose is vitally important, as it will tell you what the paperwork does not. Enlist the help of an expert if you have access to one. If not, use this checklist when inspecting your prospective vehicle:
- Check the car’s service history against the manufacturer’s maintenance period recommendations.
- Open the bonnet and look for oil leaks below the engine, inspect the electrical wiring in the engine compartment for burnt wires, inspect the radiator for leaks and cracked plastic tubing. Also inspect the radiator fluid. This should be a clear, coloured liquid.
- Check the body for misaligned panels, uneven gaps, or mismatched paint. These are signs of potential accident damage.
- Inspect the tyres. Uneven wear is a sign of unbalanced wheels, misaligned suspension, or worn shock absorbers. If possible, turning the tyres all the way to one side allows you to look at the brake pads. Check or question if these still have an acceptable life.
- Start the engine while listening (and feeling) for any “out of place” noises when starting it up, when it is idling, or when it is revved.
- Look at the wear and tear on the carpet, pedal rubber and gear stick. These should match the mileage of the car.
- Test drive it. Not just around the dealership, take it on to a highway as well. Make sure you concentrate on the sounds the engine makes (so turn off the radio), the “feel” of the clutch, whether the basics such as indicators, wipers, radio, air-con, hazard warning lights, windows and doors, fuel gauge, odometer, speedometer and seat belts all work properly.
- Get advice from people you know who have the same car your heart (and wallet) is set on.
2. Consider whether it’s a good lifestyle fit. If you have children or an adventurous lifestyle, check that the car fits all your gear such as prams, infant car seats, bikes and more.
3. Conduct research to find out more about the car’s strengths and weaknesses. Look beyond the aesthetics of a car and assess its worth based on safety, comfort, and driveability.
4. Use an online calculator to assess the car’s depreciation rate. This will help when deciding between two similarly priced cars, as you might want to opt for the car with a lower rate of depreciation.
5. Shop around! Try other cars in the price/car type range, so you’re able to compare, and get a good sense of what else is available.