Tips on Buying a Used Car

Buying a used car has important advantages. You can purchase for much lower than it would have cost you when it was new, as most of the depreciation occurs in the first three years of a vehicle’s life. In fact, the value drops significantly as soon as the new car leaves the dealership. People who buy a new car are actually paying thousands of dollars extra for the brief pleasure of a ‘new car scent’. However, there are risks in buying used, especially if you’re buying from a private seller. So be sure to investigate before you do the deal.

Determine the car’s value

To help you determine the value of a used car, you can check the Canadian Red Book, available at any local library. But this is only a guideline. Look for other cars of the same make, model and year online to see what prices are being asked for them.

Ask plenty of questions

Be sure to ask plenty of questions when buying a used car. This is especially so if you are planning to buy privately rather than from a licensed car dealer or salesperson. Your questions should include:

● Are you the car’s original owner (if buying privately)?

● If not, how many people have owned the car?

● Why do you wish to sell the car (if buying privately)?

● What condition is the car in? How about the body and upholstery?

● Has the car ever had repairs costing more than $1,000?

● Has the car ever been involved in an accident?

● Do you have service records?

● Was the car ever used as a taxi, police car, a lease or a rental?

● Is the odometer’s mileage count accurate?

Always inspect a vehicle in daylight

Make sure to inspect the car in the light. Look for extreme wear of the seats, upholstery, brake and accelerator pedals. Also, look for anything new, since this may indicate the car has had a lot of use. Carefully check the exterior, and watch for waves on the body as that may mean bodywork or that the car has been involved in an accident.

Take the car for a road test, driving it at different speeds and on different road conditions. The road test will help you assess the brakes, steering, shock absorbers and front-end alignment.

Check the car's registration and history

Check whether the car you are buying is registered in the seller’s name. If it isn't, be sure to ask why. You don’t want to purchase a car that has been stolen or rebuilt. To check the car’s history, you will require its Vehicle Identification Number (VIN), make, model and year; if the seller won't provide this to you, you should walk away.

Ask for the Used Vehicle Information Package

Under Ontario law, private sellers of most vehicles have to provide buyers with a Used Vehicle Information Package. This package contains.

● Description of vehicle

● Ontario vehicle registration history

● Odometer information

● Outstanding debts (or liens) on the vehicle

● Wholesale and retail values for the vehicle's model and year, if available

● Retail sales tax requirements

● Bill of sale

Find out about parts availability.

What is the price of parts such as brakes or exhaust that often have to be replaced? If there are generic brands available from auto parts stores, it may help lower your future repair bills. Be cautious when considering cars that were expensive when new, especially if they’re selling at a large discount as used vehicles: their parts could be extremely costly to replace.

Calculate the insurance rates

Find out how much it will cost to insure the car. The rates depend, in part, on the car itself. As with the cost of parts, you want to discover if this cost is a budget-breaker before you buy.

Ask your mechanic to check the car

Before you agree to purchase the car, obtain an objective evaluation from a mechanic whom you trust – rather than someone whom the seller suggests.

For information about PRUDENT VALUE CARS, visit our web site: www.prudentvaluecars.com 

Can Buying a Used Car Save You Money?

Do you think buying a new car will change your life? Remember that new cars become old cars fairly quickly. You can easily save money on the purchase of a used car. When you’re buying a used car, you want to get the best rate on the car but you also want to look for ways to save even more money once you purchase the car. Here are just a few ways that you can save money buying a used car:

Lower rates – When you purchase a used car, you will pay lower taxes and insurance. Depending on where you live and your driving record, you can save a considerable amount of money over the life of your car on auto insurance.

Financing – You should try and pay back your car loan in a short period of time as this will save you money. The sooner you pay off your loan, the more you’re saving in interest. If possible, could you continue to save for another year and simply pay cash? Six thousand dollars can buy you a great reliable car.

Inspection – This is important when purchasing a used car. Take the used car you intend to buy for a thorough inspection. This will ensure that you get a car that is in good running condition.

Lifestyle – If you feel your used car does not accommodate your lifestyle because it’s too small for skiing trips or road trips feel crammed then think about what it would cost to rent a car for that particular trip. It still works out to be cheaper than a new monthly car payment. You will also not have to worry about insurance, maintenance or depreciation.

Repair bills – Even if you have to replace the timing belt, radiator or even the transmission costing you $2000 for the year is still a lot cheaper than a car payment at $350 per/month. Whether you feel your used car needs the timing belt replaced at 100k or it’s you can drive more miles before an oil change, you should stick to the recommendations of your car manual to give your car a longer lifespan.

If you’re looking for ways to save money by buying a used car, visit our inventory at http://www.prudentvaluecars.com/inventory.html. Prudent Value Cars makes it easy to help you buy the right used car for your needs.

Buying a used car in Toronto

There are so many questions you ask yourself when you’re on the market looking for a quality used car. What to look for in a used car? Where to look for a used car? What type of car is right for me? There are many factors to consider when purchasing a used car to make the buy a lot easier for you.

Cars are one of the biggest investments that you will make which in most cases calls for you to borrow money from a bank, credit union or other financial institutions. Buying a used car can save you a lot of money. When you purchase a new car, you’re paying for the car being new and this doesn’t necessarily mean that a new car does not have any problems. New cars can have manufacturing defects or problems with poor design leading to a recall. A new car also depreciates in value the minute you drive out of the dealership and is only worth about 70% of the original value after just a few years.

The best place to start when buying a used car is to set a budget, make sure you stick to it and shop around for the best interest rate before you purchase.

When purchasing a used car, the cheapest car doesn't mean you’re getting the best deal. Your ultimate goal is to find a car that is in good condition for a reasonable price. The value of a vehicle really depends on the cars condition. You may have two cars to choose from that are the exact make and model, one may have been religiously maintained and one poorly maintained.
Your best choice here is to pay the extra money for the car that was properly maintained leading you to save more in the long run.

Do a lot of research. Ask a lot of questions. Check the odometer reading. Check the body for rusting. Take a road test...etc. The internet is also an effective tool for researching market value, pricing and to also find dealerships that sell used cars.

Buying A Car In Ontario

Prudent Value Cars sells only top quality, pre-owned cars and trucks with low kilometers  Most of the time, if you don’t see the car you want, let them know and they can usually get it for you. They also finance cars from any dealer of your choice. You can also apply for same day financing at their loan center.