Things to keep in mind when buying a used car
Clark Howard, WSB-TV consumer adviser
Buying a used car can either mean a great deal or a great big repair bill. So when thousands of dollars are at stake, how do you make sure the used car you're buying is a good one?
Consumer Adviser Clark Howard outlines the steps you should take when shopping for a used car:
Step 1: Secure your own financing from a credit union, bank or online lender, not the dealer, unless they offer an extremely low rate. One woman Clark talked to financed her car through the dealership, at a whopping 20%. She belongs to a credit union that offers car loans for 7.75%. On a $10,000 loan over four years, that credit union rate would save almost $3000.
Step 2: Find a make and model you like, and research it thoroughly. Go to the bookstore or your local library, and get one or more of these price guides: Edmunds, Kelley, Pace, or the April edition of Consumer Reports Magazine. Everything you need to make a sound car choice is in there. All of these resources are also available online.
Step 3: Shopping. If you belong to a credit union, try the credit union auto finder service. But no matter where you shop, stick to sellers that guarantee the quality of their cars.
Step 4: Once you've found the car of your dreams, it's time for the final and most important step. Have the car inspected by an A.S.E. certified inspector. It will cost you about $100 and an hour of your time, but it's worth it. And remember, if the person selling you the car won't let you have it inspected, hit the brakes. They're probably hiding something.
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