Used Car

[LivingAlmostLarge]

Where or how have people bought used cars? What's the best strategies for getting a good deal?

[bjl584]

It might sound predatory, but the best deals of gotten on used cars and items in general is from people that are desperate to a certain degree financially speaking. A quick look around their place and in their garage and you can usually tell if someone is selling something out of necessity or not.

Usually those adds that say, "Must Sell!!!" are a good place to start. You have a good chance of beating them over the head on the selling price.

[disneysteve]

Where or how have people bought used cars? What's the best strategies for getting a good deal?

Both of our current cars were bought from the dealership. Mine was a dealer demo bought at the end of the model year with just over 11,000 miles. My wife's was a certified pre-owned about 3 years old with 34,000 miles. I have no complaints at all with the process of buying either one. I'm sure I could have gotten something cheaper buying from a private party but I just don't trust going that route even if it costs me more.

[MonkeyMama]

I think we've had conversations about this LAL.

We ended up buying our last 2 cars in the spring (dealership) when they had "1 at this price" deals. Generally these are just cars they want to get rid of that time of year - in the spring seems to be making way for new models. For reference, I had like 5 cars to pick from last we did this (Same brand/similar mileages). Before those 2 experiences my spouse was all about the dealership and I Was all about the private party. He swayed me - we got GREAT prices and little dealership BS. Every other dealership experience I've had was a nightmare (enough that I had never bought from one before, and there are several dealerships that I would *never* go back to again).

Other than that, there is the "granny car" from a private party seller. These cars tend to be older models but very low mileage. I bought a car with 30k miles that was 7 years old and it still had that *new car smell* - it was immaculate. Those are generally the cars we buy when going used. They tend to be garaged, barely driven, well maintained, and they just are bored and want a new car. I probably perceive these to be the best deals out there because the cars are usually in such great shape and have so much life in them, BUT, they are depreciated so heavily simply due to age. Of course, where we live, there always seems to be "granny cars" flooding the market. You can find these cars at dealerships too, there will just be a huge mark up on them. But, it's relative, can still beat buying new by a mile.

[disneysteve]

We searched on the internet for cars in our area.

I want to emphasize the importance of doing this. Dealers will often have internet specials. We got out van that way. Online, they had it listed for $2,000 less than they had it priced on the lot. Had we not seen it online, we likely would have paid more for it.

Another option which I've never used but would consider is a place like Carmax or one of the other used car companies. They are pretty picky about what they buy and sell. They don't take junkers. And they do fixed pricing so no haggling or negotiating. Either you pay the price listed or you don't. Very simple. For those who hate the whole haggling thing, it can be a great way to go.

[snafu]

We 1st decide what we 'must have' in a vehicle and read reviews from Consumers and "Lemon Aid' to verify brands and models to avoid, and 3 brands/models preferred. No point buying a vehicle with features you never use that add to cost.

Check KBB for an idea of pricing preferred models in your community. Carfax can help for a fee if you feel unsure. I think it's important to have a vehicle checked out by a good mechanic and I've made it a point to have the VIN verified as there were several scams in our city [people/dealerships selling cars they didn't own;'curbsiders' selling insurance write-offs]. If considering a private purchase, I insist on reviewing the maintenance invoices/record. Compare a private find to what is offered at a dealership. Often you can get a great deal on Ford at a Honda dealership because it's not their branding.

Get financing in place so you know if dealer's financing gives a better deal. Armed with facts you can make a good deal and not be influenced by features or stories. Don't fall in love with a car until the deal is done.

[LivingAlmostLarge]

MM where do you see the dealer ads? I was wondering do you just know dealer websites? What are the best used car websites? Craigslist?

I sold our car on craigslist for close to KBB pricing. Right now I'm not sure how I feel about private party. I'm not even sure what sort of car we're buying. If that's the case how do you find a dealer?

[Shewillbemine]

The most thorough used car, internet searches will be through the following websites:

autotrader.com
carmax.com
cars.com (aka Yahoo)

As others have said, you should start with determining your needs in a car. Here are some very common factors:

1. Manual or Automatic
2. 2-door, 4-door, hatchback, van, etc...
3. Gas Mileage
4. Insurance rate (many people forget this; contact your insurance agent for sample quotes)
5. Your budget

Then use the websites I listed above to begin your search and narrow down some of your choices.

BUYING FROM A DEALER
Imo, buying from a dealer is the less difficult/less hassle option BUT you will pay more. Dealer prices are generally higher because they have plenty of overhead and mouths to feed. An advantage could be a pre-certified vehicle, which is essentially a slighly used car with all the warranties of a new one. This is why you might opt to go dealership. There's also less hassle with paperwork and financing as long as you're comfortable negotiating. Going the online route is great and if you're inexperienced with car purchasing, try the email or fax method: contact various dealerships asking for the best price stating you are ready to buy that day. If you're lucky, you can start a dealership "fight" over the best pricing.

BUYING FROM A PRIVATE PARTY
This isn't as bad as you might think. You will generally get a lower price than the dealerhip would offer and you have the advantage of talking to the previous owner for maintenance history. The process can be more complicated if there is a lien on the car (the owner still owes money) and if you are using a bank loan to purchase. In that case, you and the owner will have to drive to each other's banks to exchange the funds. If even one of those parts is true (lien or loan for you) you'll still have to go to at least one bank.

BUYING FROM CARMAX
Some people would tell you that CarMax represents the best of both worlds: you can view a variety of car makes, they have a no-haggle/no hassle policy, they finance on the spot, and they'll even buy your car. However, their prices are higher priced than most although that's coupled with the CarMax buyback guarantee as well as the possibility of additional warranties. If you're looking for a generally reliable model (Honda/Toyota) then you don't need a CarMax style place. But if you're looking for something higher performance, sportier, and more likely to have been beat on, a CarMax certified car could be the thing you need.
There are plenty of deals to be had out there if you do a little homework and don't mind getting your hands dirty. Let us know if you have further questions. I have plenty of experience with car dealerships and the car buying process. (or "used to" since I've been in saving mode for several years now)

[LivingAlmostLarge]

How do you figure out what is in the dealer inventory? Online? Calling? Emailing? Anyone try ebay?

[MonkeyMama]

MM where do you see the dealer ads? I was wondering do you just know dealer websites? What are the best used car websites? Craigslist?

I haven't bought a car in many years - so last I bought we saw the ads in the newspaper. I am sure that would be a more outdated way to find a car, these days.

Private party - I've only used Craigslist (heck, maybe just the newspaper - I haven't bought a private party vehicle since 1999 - I sold a car on Craigslist once, so maybe why I am thinking of that).

To be fair - one reason we get such great deals on cars is we aren't picky. We usually buy older cars we can research their track record a bit AND have our mechanic check it out. We are picky on that part of it. But when it comes to the features of the car? Who cares? *That* is where the deals are. Since we bought our last 2 cars *almost new* we went with the models because we had friends who had older vehicles of the same make/model who were VERY happy with them. So was kind of our frame of reference - not like you can look up the long-term reliability of a 1-year-old car? Once you start getting picky about the color of the car, the stereo system, etc., you will pay through the nose for all that. I haven't bought a car since my mid-20s - I just couldn't afford to be more picky than that. These cars were significantly nicer than any I had ever owned before though, so it's relative. But these tend to be more stripped down models without all the "extras." Which I find preferable - means less stuff to break, honestly. I just like my cars reliable and low maintenance.

[photo]

Another way to save money is to buy a manual transmission. With new, you can usually save $1,000. With used, you can probably save money as well because a lot of people don't know how to drive them, so the pool of potential buyers is smaller. I've also never had to replace a manual transmission.

[YLTL_Dan]

I sold my car on Craigslist, and I also purchased a used car on Craigslist. For both instances, I used KBB to get an idea of price, and then I compared that price with local dealerships and online ads.

After I contacted the seller and felt good about the price, I drove the car and made them a cash offer - knocking off another ~5%. I've had the car for 5 years and 50k miles with normal repair bills (AC, brakes, etc).

[LivingAlmostLarge]

No thanks to manual transmission I can't stand driving it in traffic ever. We had my DH's car and never replaced the clutch but still, it's a pain.

Online ads? Where? I guess I have to start buying the sunday paper?

[disneysteve]

Online ads? Where? I guess I have to start buying the sunday paper?

Nope. No newspaper needed. Just Google "used" "type of car" and "location" like "used Toyota New Jersey" and you'll find everything you need. Every dealer also has a website where you can search their used car inventory.

[bjl584]

Autotrader.com is a valuable resource for searching for used vehicles.