Used Car Research
Thursday, February 7, 2013
Buying a Used Car
There are several good reasons to consider buying a used car, including ample selection and the improving reliability of older cars. But the main attraction for used-car buyers is affordability.
Buying a new car is definitely more expensive than buying a used one. In fact, the price spread between new and used is widening. The latest figures available from CNW Marketing Research indicate that the average transaction price, before taxes and fees, on a new car in 2008 was $25,536. The average used car transaction was $8,244 during that same time period.
1) Read article and complete worksheet:Ten Steps to Buying a Used Car
http://www.edmunds.com/car-buying/10-steps-to-buying-a-used-car.html
2) Research Cars.
Go to www.AutoTrader.com.
Click the Find Cars for Sale tab.
In response to the question “Which Cars are you Interest in? click, Used Cars, within 25 miles.
Continue to answer questions to narrow your search. Click Search.
Look through your search results. To find out more about any car, click the hyperlinked car name. If you are interested in the car, click to get the VIN, and Print Vehicle Highlights.
Narrow your search to three cars. Get printouts of each. This will give you a hard copy of the Vehicle Make, Model, Year, Options, etc. You will need the printouts for the next step.
3) Check the asking prices against the Kelly Blue Book value.
Go to http://www.kbb.com/used-cars
Under the Used Car tab, check the value of the used cars you selected.
Select the Year, Make, and Model using the information from your printouts, click Go. Select the correct model.
Enter mileage and all options.
Click Continue to see the Blue Book Suggested Retail Value.
Write the amount on your AutoTrader printout.
Enter the VIN # in the CARFAX record check. Make handwritten notes on your AutoTrader printout.
4) Choose a Car.
Cross out any car that you would NOT buy.
Rank order the cars that you would buy.
Write the amount that you would offer the seller.