Certified pre owned or used car from dealer - looking for a basic reliable car
Jul 20
21 Comments
Please vote.
Also any tips for negotiating with dealers?
Which bank or credit union offers 0% financing?
comments
Do your research online and narrow down to make/model you want. Research prices of that model in your city and know what to expect. Find a few options online and go visit the car in person if possible to get a feel for it. Once you have your winner, an excellent idea is to hire a mechanic to give you a status report on the car. This will cost you yes, but you're better off knowing what to expect from the car rather than going in blind (no pun intended). Unless you are paying cash, don't negotiable the price of the car, but instead, the bottom line or the "out of the door" price with all fees and crap they add, then think if it makes sense to you. Be prepared to walk out of the deal if you are not confident.
When you pay in cash, you have more control over the transaction. If you finance, which is what the dealer want and what most people do, they can add fees upon fees and get a good financing APR but pass it down to you with a markup, and so on.. You'd be surprised to see how creative they are in getting your money. But if you stick with the final price or out of the door cost, you can easily assess if you can afford it and if it seems fair to you, with no more hidden costs.
Lease if you can afford
CPO if you want to keep for longer
If you want a performance car:
German: Lease lease lease only maybe CPO merc but not a BMW
American: buy used, no CPO usually cheap to maintain
If you don’t care much for cars and want a reliable ol beauty
Grab a Corolla/civic and just give’er bud
If you want Electric:
I’m too broke to afford one so no comments
And banks/credit unions are in business of lending to make money. You'll never find 0% there. Only on new cars that they need to move fast, can you sometimes find 0% or 0.9% apr. Google search is your friend.
Used and CPO are under same for auto loans.
CPO for a good German car