 The team at Ray Price Chrysler Dodge Jeep Ram thinks this is an excellent question, and we want all our customers to know the answer. That's why we created this guide to our top 5 tips for buying your first used car.
1.Make a Budget
If you're a first-time used car buyer or shopping for any kind of car, it's important to consider your budget. As a rule, your monthly payment should be approximately 10% of your monthly income. So, if you make $3,500 per month, you can safely afford to put up to $350 per month toward a monthly payment.
However, the total cost of ownership shouldn't be more than 20% of your monthly income. In addition to your monthly payment, this includes your car insurance, registration fees, gas, and maintenance/repair costs.
If you need help determining your budget, try an online car affordability calculator, or contact our finance center!
2.Determine What You Need
When shopping for your next car, you'll want to explore your needs. If you live in a mountainous region, you may prefer an SUV like the Jeep Wrangler with 4-wheel drive (4WD). However, if you spend a lot of time with kids in the car, something like the Chrysler Pacifica, with its rear seat entertainment system, might be a better fit for you.
Reading online car reviews can be a great way to ensure you're choosing a model that closely fits your needs.
3.Buy from a Dealership
While you have the option to buy your first used car from a private seller, we recommend shopping at a dealership, instead.
When you purchase from a private seller, you're often required to pay for the car upfront and in-full. At a dealership, however the finance center can leverage their network of local lenders to help you secure used car financing, so you can pay off your car over time.
Dealerships also have the added advantage of offering a certified pre-owned (CPO) selection, in addition to their used car inventory. These are cars that are lightly used and have been inspected by a factory-certified technician. They may look, smell, and feel like new, and often come with a limited factory warranty.
4.Read the Vehicle History Report
Many used cars for sale at a dealership include a vehicle history report (VHR), like an AutoCheck® VHR. This report will give you a detailed report on where the car has been. It includes information like:
- Number of previous owners
- Title and accident history
- Odometer readings and rollback alerts
While dealerships hold the cars, they sell to high standards, checking out the VHR can provide extra peace of mind.
5.Take it for a Test Drive
When you've narrowed down your options to a few top contenders, the last step is a test drive, so you can see how it feels. Try it out on a hilly or bumpy road if possible to test for suspension or transmission issues. Also take it above a speed of 60 MPH at some point to see if any engine problems appear. If everything feels right, make your way to the finance center and drive the car home to keep!
If you're ready to take a test drive around Mount Pocono or East Stroudsburg or have questions about our tips for buying your first used car in the Tobyhanna, Scranton, and Stroudsburg areas, contact Ray Price Chrysler Dodge Jeep Ram and we'll be happy to help.
Contact us today!