When the time comes to find a car, purchasing a used motor can be very cost effective compared to buying a new model. And with the news that second-hand car sales are currently on the rise amid a shortage of new cars, we've grouped together the top tips to follow when browsing the second-hand market.
Buying any vehicle is a big investment so make sure you are in a good financial position to purchase a car. Have a budget in place and find out the best way to finance your car. Whether it's through a personal loan, vehicle finance or straightforward cash, Leeds Credit Union can help.
Once your finances are in order, you can then decide what type of car you need. Think about how practical it needs to be, how often you will be using it and what size you need it to be.
You should also take into consideration the running costs of owning a car:
The car costs calculator can help calculate all of these costs on your potential new vehicle for a full year.
One of the main things you need to look for is the car’s mileage. The average distance covered per year is around 10,000 miles, so if the odometer’s figure appears wildly out for its age, ask why.
You should also look at the overall condition of the car and keep an eye out for scratches, dents and other potential problems. Does the car seem safe to drive? Trust yourself – if the car looks to be in terrible condition, continue your search elsewhere.
When you’ve agreed on a price and decided you’re going to purchase the car, make sure all terms are agreed in writing, with a receipt that both parties can sign. Remember to keep a copy - it should show vehicle details, price, terms of sale and both the seller’s and buyer’s name and address.
Be careful about taking large sums of money to pay for a car. If possible, use a money transfer.
At Leeds Credit Union, we can help your plans become a reality. We have a variety of loans that can help make investments such as these more affordable.
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