It makes sense to buy used car in this tough economy. But if you can afford a four hundred dollar new car payment then by all means go for that new car smell. But if you are like most people these days a used car is appealing. Not only for the price but because there are a lot of good used cars out there.

And new cars do not go up in value. Once you buy it and own it expect about a thirty percent drop in value. Of course you still owe one hundred percent of what you contracted to pay for it.

Auto insurance is also higher with a new car compared to a used car. Also, many used cars still are under the manufacturer’s warranty. You will find most American cars have a 12 thousand or 36 month warranty.

Find a car in this range and you will have the basics covered. The drive train, brakes, seals and gaskets, cooling system. If you buy your used car from a dealer, they will try to sell you extended coverage. This is not bad necessarily. But if they add the cost to your loan you will be paying interest on an extended warranty. Try to buy the coverage separately if you think you need an extended warranty to avoid paying the extra interest.

Do your research. Find out what breaks down on your car. If there is a problem with a major part of your car you want to know if the extended warranty will cover that part and repair cost. If your car has few problems according to your models history, you might not need an extended warranty. But make an informed decision.

If you are buying a used car you want to make sure you have a trained licensed mechanic look at it before buying it. A mechanic will find problems you cannot or even know about. For instance a torn CV boot can cost about $350 to replace. The cost is in the labor charge. It is found around the wheel. If it is torn it will cause the front end to shake when you brake from high speeds.

If you do not know what to look for you might end up paying more for your used car than you planned. So have the vehicle inspected so you will not incur repair costs later. If there is something on the car that needs repair and you like the car negotiate a better price with the owner.

Remember in most jurisdictions when you buy a used car you are buying it as is. This means you have no legal recourse if something goes wrong after you buy it. A new car might not be in your budget but know how to buy used car to make sure you are not sorry later.

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