Introduction
Finding the right car has always been a difficult decision for me. Knowing what model years are best, what fits my budget, or if I am getting a good deal is a constant hassle. Over the years, I have had both new car and used car purchasing experiences, all of which had teaching points. From my personal experience, I wanted to create this guide to help other find the right car, especially if its their first car.
Learn from my mistakes with car buying and navigate this crazy car market we are facing today!
Finding The Right Car For You
Create Your Budget
When trying to find the right car for you, you need to be realistic about your budget. Determine your financial limit, including potential maintenance costs and insurance premiums. Get quotes from auto insurance companies and read buyer’s reviews such as those on Edmunds or Kelley Blue Book to find out any potential issues with the specific vehicle.
I learned things the hard way in this area. When I bought my Focus ST, I was way over my head with the budget. The monthly payment stretched my college student income. Fortunately, I was able to eventually overcome the monthly payment, but I do wish I budgeted better.
Research Your Perfect Vehicle
Finding the right car means finding the right car for your life. Explore various car models, considering factors like reliability, fuel efficiency, resale value, or aftermarket part options if you’re looking to modify the car. We recommend narrowing down your choices to a few preferred options. For example, if you want something off the beaten path, you’ll want to look into unique cars like these!
Check The History
Obtain the vehicle identification number (VIN) and run a comprehensive history check to uncover any hidden problems like accidents, previous owners, or title issues. In today’s world of people selling stolen cars, be extra careful when doing a private party sale. If an owner is being weird when you ask for the VIN to run a CARFAX check, walk away.
Certified Pre-Owner Vehicles
Consider certified pre-owner vehicles, which includes inspections and come with warranties, offering added peace of mind. Dealerships often resell their lease returns as certified pre-owned cars. Local dealerships will have sales with certified pre-owned cars if they need to make room for newer models or new lease returns.
Pre-Purchase Inspection
Have an independent mechanic inspect the car thoroughly for mechanical issues, including engine, transmission, brakes, and suspension. If a seller tells you they do not want you to have a mechanic inspect the vehicle, RUN AWAY.
Take a Test Drive
Take the car for a test drive to evaluate its performance, handling, and comfort. Pay attention to any unusual sounds, vibrations, or warning lights. This test time is also well spent to see if this car is actually something you like. Often times we think we like a certain vehicle, but when we drive it, we are underwhelmed and unimpressed.
For example, I test drove an SRT8 Challenger before I bought my ST and while the power was nice, I felt like it was way too much of a boat for me. On top of that, the steering feel and transmission were not my favorite. Had I not test drove the car, I could have ended up with a car I did not like that much.
Negotiate
When you find the right car and it meets all of your needs, get ready to negotiate. Gather pricing information from various sources and negotiate with the seller to get the best deal. Checking out other used car ads can assist with getting the best price as you have current market pricing comparisons. Be prepared to walk away if the price doesn’t meet your expectations.
Documentation
Ensure all necessary paperwork, including title, registration, and service records, are in order. Verify the legitimacy of the document before proceeding with the purchase.
Financing
If financing is required, compare loan rates from multiple lenders and choose the most favorable terms. I highly recommend comparing the monthly payment to your finances to avoid purchasing too expensive of a vehicle. If you finance through a dealership, they may offer you better rates if you come in pre-approved from a credit union or bank. Always stack the chip in your favor when you’re trying to find the right car.
Pro tip: Read the fine print carefully before signing any agreement. That’s where you get caught with fees that were added on last minute.
Consider a Warranty
Review the remaining manufacturer’s warranty or explore extended warranty options if working through a dealership. Some vehicles on a used car lot will be sold “as-is”, meaning there won’t be any responsibility on the seller’s end unless a warranty is purchased.
Purchase agreement / Bill of Sale
Create a written purchase agreement that includes the agreed-upon price, terms, conditions, and any additional warranties or guarantees.
Insurance
Arrange insurance coverage before taking possession of the vehicle to protect yourself and meet legal requirements. You found the right car, you want to make sure its protected just in case something happens!
I would recommend going directly through an insurance company and not an insurance broker. Insurance brokers will get you a “good deal” on paper, but then you end up paying for much more in brokerage fees.
Frequently Asked Questions
#1 Is It Bad To Finance A Car?
While I am not a financial advisor by any means, I do have some experience in this department. From my experience, it is best to avoid financing a car if it is going to make your wallet tight. For example, when I bought my Focus ST, I bought too much car for my budget. It took up a third of my take home pay. Looking back on it, I would have been better off purchasing a used car outright in cash. However, if your payment would only be around 1/8th your take home pay, I don’t see it being an issue. Just remember to factor insurance and repair costs in your cost of ownership.
#2 Where Are The Best Places To Find Good Used Cars?
About ten years ago, I would have told you to watch Craigslist. Nowadays, the Facebook marketplace is the best spot for good used cars. I have seen realistic listings as well as awesome deals pop up on there. Unfortunately, Craigslist is filled with overpriced cars and “I know what I got” people. Luckily, there are some more enthusiast-focused options out there.
While websites like Bring A Trailer have cars at astronomical pricing, there are other sites that will get you a proper enthusiast car with little difficulty. Built For Backroads specializes in listings of manual transmission cars. The listings consist of light to heavily modified manual transmission cars that serve as an awesome platform for your adrenaline rush. Alternatively, good ol’ Doug Demuro has his website Cars and Bids which provides you an auction experience for very unique cars.
Conclusion
Take the time and make sure you find the right car for you! Do not rush into a deal because it looks good on paper. Do your due diligence and make sure you aren’t getting scammed. If finding the right car for you means finding a beautiful classic car, check out our guide here!
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