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Ever wonder why it's so much harder to shop for a pre-owned auto than a brand-new one? While depreciation and dependability issues certainly play a part, the number one reason shoppers find it more challenging is that they don't do their homework. Most of them simply visit a used car lot or dealership and look around. By comparison, most shoppers do hours upon hours of research when they intend to buy a brand-new ride. Our advice? Put in the time doing research, and you will save time and money on your next secondhand vehicle. With that in mind, here are the five steps you should always take when shopping for pre-owned autos. Step 1: Set A Budget When you don't know how much you can afford to spend, the odds of overspending on used cars are quite high. Why? For starters, the seller will show you a wider range of vehicles, some of which may be out of your price range. Negotiating without a budget is also much riskier, since emotion, rather than price, is more likely to win out. It is also important to note that salesmen often prefer to deal with shoppers who know what they want and how much they are willing to spend. That way, they can simply show the buyer vehicles without having guess at what they might like. Step 2: Make A Shopping List While it is true that all automobiles are subject to depreciation, they don't all depreciate at the same rate. Many brands and models that are known for their durability and long life spans have much higher resale values in the secondary market. As a shopper, it is always a good idea to create a list that includes vehicles that are on the low and high end of your budget range. We recommend building a target list that includes at least three different used cars that meet your needs and fall within your budget. Step 3: Read Reviews Even if you think you know everything there is to know about a vehicle, it often helps to read reviews from previous owners. These personal accounts may help you discover things they might know at the dealership, such as maintenance costs, ownership expenses, and potential problems. Step 4: Find The Factory Invoice Price Even though depreciation greatly affects the price of your secondhand vehicle, it helps to know exactly how much the car costs when new. Because depreciation is highest in the first three years of a used car's life, knowing the factory invoice price could help you negotiate a better deal. Step 5: Shop Around It seems simple, but you wouldn't believe how many shoppers only stop at one car dealership before they buy. Our advice? Visit at least three different dealers, and get prices in person. Then you can make a decision based on the actual prices you are likely to receive if you choose to negotiate for a specific vehicle. As elementary as they sound, our five simple steps should help you secure better prices on used cars in the future. In the search for used cars, Massachusetts residents go to http://www.stevelewissubaru.com/used-inventory/index.htm.
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