Let's suppose you're in the market for a new set of wheels you plan to show off when hanging out with your friends this summer. You have two options: get a brand spanking new car that, while safe and reliable, puts a massive strain on your wallet or get a used car that's not only safe and reliable but also comes at a fraction of the price. You choose the latter of the two.
But odds are you have some – scratch that, a lot of – questions that need answering before you take that pen and sign on the dotted line. And we at Boro have the answers to the most important ones.
Scroll down and check out our list of the top five things you need to know before you head to your local dealership.
While used cars can be less expensive than brand-new cars, this does not mean you should buy the first automobile you lay your hands on. Especially if you're on a tight budget and trying not to overspend. Take the time to do your research, whether it means you visit websites like TrueCar and Cargurus or just peruse through the classified ads, and compare prices on vehicles that are on your list. Also consider analyzing the fees that come with each vehicle (sales tax, etc.) as you go.
Warranty plans can be tricky. Some cars are covered by the original manufacturer (and advertised as such), some by third parties and some are not covered at all (this is mostly the case with cars that are more than three or four years old). When selecting a car, check to ensure there are no preexisting problems and ask about the plan for each vehicle so you can get an idea as to what their plan is.
This one is kind of a no-brainer. Make sure your automobile insurance policies (or your parents' automobile insurance policies if you're still on the family plan) is up-to-date before you buy, just to make sure nothing goes wrong during the final sale.
This is also a no-brainer. Consider hiring an independent mechanic to make a thorough examination of the car prior to your purchase and see if there are any underlying issues or if the vehicle you're about to purchase was involved in any accidents. You can also determine if the latter is a potential issue by examining your car's…
5. VEHICLE HISTORY
From car accidents to involvement in natural disasters (floods, earthquakes, etc.) to odometer rollback, a car's vehicle history can determine if your future car is not in the best condition to be purchased.
We hope this list helps narrow down your choices and that you choose Boro – the online company that provides the best auto loans for students – when purchasing your car.