Why buy used?
A used car (be it 1000 miles or 100,000 miles) is much cheaper than that same car when bought brand new off the lot (obviously). Craigslist, aka private party, lets us find these cars for the best price. Read on to learn how to become a master of the used car buying and selling process.
Finding the right car
First, find a budget that you are willing to work with. If you do not have the cash, and if the car qualifies, a bank or credit union may offer a loan.
Always refer to KBB (Kelly Blue Book) for the current private party value of the car you are purchasing. This will give you a better idea on how much you should be paying for the car, as well as potential negotiating power to lower the price.
If not familiar with cars, we suggest finding a shop to do a Pre Purchase Inspection. That way you know the mechanical condition and can use it as negotiating power. The thing to remember with all used car buying tips, you must always negotiate the price.
Pro Tip Most people expect to get lowballed, so they set the price much higher than what they would really like to get.
A Note on Smog
If you live in a state that requires a SMOG check, make sure that the seller has a smog certificate included. Verify that the smog was completed within 90 days, otherwise it is not valid for transfer of ownership (CA).
Double check to make sure the registration is current. A lot of times, people sell their car for a cheap price only because they cannot smog it due to a Check Engine Light, or other issues.
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