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5 things You Should Know Before Buying a Used Car in 2024

June 20, 2024
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5 things You Should Know Before Buying a Used Car in 2024

KEY HIGHLIGHTS

  • Used cars offer significant savings amidst high new car prices.
  • Check mileage and maintenance records for informed buying decisions.
  • Consider certified dealerships for refurbished cars with warranties.
  • Research thoroughly to negotiate and find the best value deals.

Used Car Buying Guide: Are you the one considering a used car as your next vehicle? If your answer is yes, this article is for you. New cars are not affordable for everyone now as we are witnessing all-time high prices due to the increased manufacturing cost of the vehicles. Additionally, the interest rates have also touched the skies. New cars also lose their value due to continuous wear and tear, which is one of the major disadvantages of buying a new car. So, instead of this, buying a 2-3-year-old used car can provide a better value. But buying a used car requires a lot of attention, research and awareness. You have to check the vehicle on various parameters before buying it.

So, if this has been a dilemma for you, we are here for you. In this used car buying guide, we will list 5 things you need to check before buying a used car in 2024. Find out more details below and join our 91Wheels WhatsApp Group to stay updated on the latest automotive news.

Read more: Next-Gen Mercedes-Benz E-Class Spotted In Pune: What To Expect?

How Much a Car is Driven?

Car

One of the biggest deciding factors when buying a used car remains the distance it has travelled. Considering this along with the age of a car provides a better analysis of the vehicle's condition. Most used cars are usually driven by around 16,000-25000 km per year. Usually, buyers get confused between a two-year-old with around 1 lakh km on the odometer and a 6-year-old car with 40,000 km on the odometer. Choosing the one between these depends on the condition and periodic servicing of the car.

Most owners get their cars serviced around the 48,000 km, 96,000 km or 1.5 lakh km depending on the model. A vehicle with 50,000 km- 1,000,00 km on the odometer will need some level of maintenance and repair to run smoothly. But a car with 1 lakh+ km on the odo may need some preventive maintenance which can be costly.

We suggest you check the company-provided owner's manual before buying the car. Apart from this, you can also find online communities where genuine reviews have been uploaded for that specific model.

The Right Value

After analyzing the condition, the most important factor is to decide the right value of the car. For this, firstly you need to know that the market prices always rely on the location, inventories and the condition of the car. You can decide the right value for users by analyzing the car on various factors. These factors include the vehicle history report and its overall condition. Once you have the history report in your hand, you can also negotiate with the dealer or the car's owner.

Accidental History

Accidental history

Knowing the accidental history of a used car is very important before you buy one. Even a single accident can destroy a highly maintained car in seconds and sometimes an accident gives non-repairable damage. You can hire a professional to check if the car you are planning to buy has been in an accident or not. We suggest you not go for a car that has faced a major accident even if it looks or works well. Instead, you can go for a better non-accidental car with a good record of service.

Are Refurbished Cars a Good Option?

Refurbished cars

Various certified dealerships offer cars in decent condition. These dealership provides refurbished cars to the customer and offers a warranty for a limited period to the customers. For those who are unaware, there are two types of certified dealerships- dealer-certified and manufacturer-certified. Manufacturer programs are much broader than dealership programs which include a decent warranty period that provides peace of mind. But manufacturer dealerships offer more costlier cars for the value they provide.

What About Private-Party Deals?

Private Party deals

If you are the one looking for a more affordable deal, private party deals are for you. While you will need to make considerable efforts to find the best deals for you in this case. But, if you manage to find the one, you are going to save a significant amount of money. But always remember to check the car on every parameter we mentioned above.

Pros of Buying a Used Car

Significant savings
Provides better value
No depreciation or loss of value
Lower Insurance
A wider selection of models

Cons of Buying a Used Car

Unknown vehicle history
High maintenance costs in some cases
Limited warranty
Outdated features
Risk of potential issues

Read More: Monsoon Tips for Cars: Here's How You Can Make Your Car Rain-Ready

Verdict

Buying a used car can be a smart move in 2024 due to soaring new car prices and interest rates. Despite potential pitfalls like unknown histories and maintenance costs, the significant savings and better value make it a practical choice. Research and diligence are crucial to find a reliable, cost-effective vehicle. I hope you will close a great deal for you after reading our detailed user car buying guide. 

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