The keys to your next used car

Buying a used car can be a crap-shoot. Used car salesmen have a less-than-stellar reputation and problems with newly-purchased used cars (and people who do not know what an “as is” sale is) clog our small-claims court system. But when looking for a used car, there are a few things to keep in mind.

• Set a budget first! Before you look at a single classified ad or glance at a passing car lot, you need to figure out how much you are able to afford. If you can only afford $100 car payments, then stick to that budget. Do you have the cash saved up? Great! Do you need financing? Figure out how much you are able to pay and finance around THAT number. Once you have a budget, stick with it! (A budget should also include a diagnostic fee by a mechanic as well as any immediate repairs a mechanic recommends.)

• Know what you want in a car.  If you are a family of four with a very little one, that two-door coupe you have your eye on may not be the best choice. If you live in the Southwest, a car without working air conditioning may not work for you. Do you want a car with airbags? DVD player? CD or cassette?

• Always have in mind what the vehicle will be used for. Cars used only to get from point A to point B should be economic and have high mileage per gallon. Cars or trucks to be used on a construction site should be sturdy (you don’t need a brand-new $30,000 truck that will be dinged up the first day on the site). If this car is going to be for your newly-licensed teen driver, a whole other set of cars come to mind.

• Pick up a classified paper, and don’t forget Craigslist and eBay. Free classified papers for both private sales and dealers are available at any grocery store and many family restaurants. Check out Craigslist and eBay to see what is available in the area. Searches on both Craigslist and eBay can be narrowed to fit your budget.

• Go to Carfax.com and sign up for a 30-day membership. For $29.95, you can get unlimited Carfax reports for 30 days. Carfax will give you the registered vehicle history, and offers a buy-back guarantee on certain information. Carfax will tell you how many owners a vehicle may have had, as well as any accidents (complete with police report numbers).

• Look for cars over five years old. After five years, the depreciation free-fall is all but over, and the car will hold onto its value better. In the case of an accident, the insurance payout will more likely not leave you with thousands owed on a car that was totaled.

• On your first trip to look at cars, look only! Collect Vehicle Identification Numbers (VINs) and make sure the car that looked perfect in the ad is perfect “in person”.  The car should pass the “sniff test”—which is just what it sounds like. Look at at least 10 cars before buying. Keep your options open.

• Get Carfax reports BEFORE test driving. The Carfax report will help narrow the field and save time when you need to test drive. Another good site to check is the Kelley Blue Book site, www.kbb.com. Kelley Blue Book will give the various values for the car. If a car is being sold (especially at a dealer) drastically under Blue Book value, there may be something seriously wrong with the car. Test drive at least three cars that pass this sifting.

• During your test drive, keep in mind the car’s purpose. If this is a family car, ask yourself if you trust it (as it is) with your children? Do you trust it with your teen driver? On your daily commute?

• If the test drive goes well, take the car to a mechanic. Most auto shops charge a nominal charge to do a used-car diagnostic price—running anywhere from $20 to $100, depending on your area. You may need to do this to a couple of cars, if your first choice does not pass the mechanic’s testing. After the mechanic’s report, ask him or her if he or she would purchase the car at the stated price if he or she was in your shoes.

• After taking the car to the mechanic, take the car back and go home. Grandma gave some good advice—Sleep on it! Too many people today are stuck in too much car (or too high of a car payment). One way to prevent this is to take 12 to 24 hours to make your decision, weighing all the plusses and minuses to that particular vehicle.

• When you are sure about your decision, go to the dealer or owner armed with the Carfax report, the Kelly Blue Book value, the mechanic’s report (as well as any estimate for repairs) and negotiate a fair price.

Everyone has a bad used car story. Everyone knows someone who knows someone who was sold a lemon. But follow these simple steps, and you won’t be that person everyone knows! The key to finding the right car for you is: Take your time and stick to your budget!

Thank you to R.M. Strong for this "used Car Checklist" article.

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