| The path to buying a reasonable used car is | | | | to get the highest rate for their products that |
| littered with buyers who didn't follow simple and | | | | they can, so as well as shopping around for your |
| straightforward advice and ended up with some | | | | car, you should also shop around for your car |
| absolute lemons. There are pitfalls that are easy | | | | finance. Also remember that the longer the term |
| to avoid once you know about them, and there | | | | of the loan the more you will be paying in interest, |
| are also lots of other things that you need to do | | | | make sure you can comfortably afford the |
| before parting with your cash for a second hand | | | | monthly payments and have money spare to |
| motor. | | | | maintain and run your vehicle. |
| The first thing to do is your research! | | | | Caveat Emptor - Buyer beware! |
| Find out the average selling price of the vehicle | | | | There's an old legal saying that has its basis in |
| you are after. Bear in mind that condition and | | | | Latin when it comes to buying goods - caveat |
| mileage can affect the value of the vehicle, as | | | | emptor; it means "buyer beware" and the advice |
| can its involvement in an accident. So do ask "Has | | | | still applies today, especially if you are going ahead |
| this car been in an accident? Is it a reconstructed | | | | with a sale from a private individual and not |
| car?" These are very important questions as the | | | | through a garage. Most reputable second hand car |
| performance, reliability, safety and value of cars | | | | dealers offer warranties and guarantees when |
| can be affected by either of these. | | | | you buy a used vehicle from them, so if |
| How to finance your car | | | | something goes wrong you can go back to the |
| Very few of us are in a position to be able to | | | | garage. Dealer prices tend to be higher to |
| pay cash to buy the car of our dreams, so what | | | | incorporate those guarantees as well as their |
| other alternatives are there? The most common | | | | profit margin. However, if you buy from a private |
| method of buying a used vehicle is by taking out | | | | individual you have limited protection. But, there |
| a car loan. The crucial thing to consider when you | | | | are a lot of bargains out there and the best thing |
| take out a car loan is how much interest you will | | | | before you buy from a private individual is to |
| pay. Basically, the higher the APR (Annual | | | | take along a mechanic who can give the car a |
| Percentage Rate) the more you will pay in | | | | once-over and put your mind at rest on its |
| interest. The percentage APR that you will pay | | | | mechanical reliability. |
| tends to be tied very closely to your credit score; | | | | Hopefully, you will avoid buying a lemon if you |
| i.e. the higher your credit rating the lower the APR | | | | follow our top tips on buying a used car! |
| you will have to pay. Of course, loan firms will try | | | | |