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What Is Considered Good Mileage for A Used Car?

Mileage is one of the prominent issues you need to address when buying a used vehicle. It gives an indication of the possible degree of wear and tear the vehicle has endured. It should be always used in combination with other factors before deciding on whether a vehicle is ideal to buy or not. When in the market for a used car, it is important to have an idea of what a good mileage for a used car is. This will help you make a faster decision regarding what to buy. It also makes it easy to go through a car catalogue to find the ideal for your specific needs. Some of the considerations you need to make when assessing a vehicle’s mileage include:

Know About Average Annual Driving Distances in your area

On average, people drive around 14,000 miles a year in the United States. This means that if you are viewing a 5-year-old vehicle, having a mileage of around 60 to 80 thousand miles should be normal. When the value on the odometer is far from this, it should be worrisome, and you should try and find out why this is so. If the mileage is significantly higher than this average, it may signify higher wear and tear rates, and this could in turn make the vehicle a bad purchase since you may need to spend a lot of money on repairs.

You should find out the average annual mileage that a vehicle has in your area and use this as a guide to determining the utility of the vehicle’s mileage.

Consider the Vehicle’s Utility

When assessing good mileage for a used car, you should also consider what the vehicle was used for. A car that is meant for commercial purposes is likely to be driven continuously for longer distances compared to a luxury vehicle. The latter may only be used for short trips, such as to work and back. Classic cars, on the other hand, are likely to be very rarely driven. Luxury vehicles are also likely to be sold after a few years when newer models come out, so the mileage may be exceptionally low on them. If you find such a vehicle to have a remarkably high mileage, you should query how it was used.

Find out the Age Group that the Vehicle Appeals to

When considering a vehicle’s mileage, also try to find out what age group buys that model most. If you buy a vehicle that is popular among young adults, you may expect it to have high mileage and dodgy maintenance histories. Vehicles of these kinds tend to be involved in many accidents since they are principally used by young adults who may not have a lot of experience driving. In such a case, a vehicle may have low mileage, but will still have numerous mechanical problems.

These are just some of the issues you should consider when considering if a vehicle has good mileage for a used car. You can always consult us for more information regarding purchase of high quality used and new cars of any type with minimal problems.

The Pros And Cons Of Buying A Car On Finance

Buying a car on finance is a double edged sword if not taken seriously. It’s important to first understand the implications of one’s decisions, their financial situation and the outlook of their finances in the long term. This way, you can make a decision on car financing such that even if you are adversely affected by issues such as reduction in income, you will not be negatively affected. If you are in the market for a new or used car and intend to pay for it through financing, understanding a few basic details regarding general car financing is crucial. It will allow you to sidestep the common pitfalls people make when getting this kind of credit. It will also reduce the likelihood of finding yourself unable to pay for the car even if you lose your income. Some of the pros and cons of car finance you should be aware of include:

Predatory Lending

Many firms offer transparent lending options, and will even offer means of easy pre-approval for faster access to financing tailor made for you. However, there are some companies which will seem to offer great deals, but will have terms and conditions that are complex. This is usually intentional and intended to make the most money out of you in mostly unfair means. For instance, they could offer incentives such as no down payment and low monthly payments, but then charge heavy penalties or change their terms when you miss a payment. Some firms go to the extent of not allowing you to deviate from the payment plan at all. For instance, they may charge you for making monthly payments too early or paying off the rest of the loan before it is due. Avoid this by going through the fine print for each deal you want to sign, and understand it well. Feel free to ask questions regarding clauses that seem suspect or which are clearly designed to trap you in debt.

Longer Repayment Terms are More Expensive

For many car financing options, longer repayment terms seem attractive since they translate to lower payments each month. However, when you calculate how much you will end up paying for these loans, it may turn out to be a lot. Some predatory lenders could even end up charging you half the value of the car as interest. You can avoid this by choosing to pay a higher down payment, and then choosing a shorter duration to pay off the rest of the loan. This way, the monthly payments will be lower, and the total interest will be reduced as well.

You Use the Car, but it Technically Doesn’t Belong to You

When you finance a car, you will be allowed to drive it as soon as you meet the initial criteria involving down payments and signing the agreed paperwork. However, until the loan is paid in full, the car technically does not belong to you. Always go through the fine print to understand the implications of this regarding what you can and can’t do with the car. This includes making modifications, maintenance requirements and whether you can sell the car or not.

The key to avoid car financing pitfalls is by working with a trustworthy, transparent firm which will allow you to have a financing plan perfectly suitable for you.

How Much Does A Used Car Cost In America?

Buying a used car is one of the best ways to get value for money since many vehicle models depreciate by a large degree once bought from the factory. However, this is not universally true and is subject to many caveats. When in the market for a used car, it’s important to have some knowledge regarding the market including the average price of used cars in the segment you are interested in. This requires you to understand the car’s features as well as extra options it might have. If you are unsure, you can always consult one of our staff members for guidance regarding this. Some of the factors influencing used car costs include:

Your Location

Where you live or where you choose to buy a vehicle from will influence the average used car cost. More expensive states such as California will have higher than average used car costs. The national average used car cost is around  $25,000. This figure has been increasing over the years as more people consider buying used rather than new vehicles. States such as Virginia, Connecticut and Kentucky have the lowest used car prices, and are thus the ideal places to buy a used car. Using our online resource gives you access to vehicles from all these areas, so that you can easily get the car of your dreams with ease.

Supply Chain Problems

Supply chain problems also have a huge role to play in determining the cost of used cars. When items such as microchips and other electric components are in short supply, this leads to a reduction in the manufacture of used cars. People looking to buying cars or trucks end up turning to the used car market either online or in brick and mortar dealerships. This increases demand without a concomitant increase in supply, and the overall effect is an increase in used car prices. The fact that new vehicles are heavily dependent on electronics  these days mans that any shortage in microchips and similar electronics will make a huge dent in manufacturing. The COVID pandemic as well as geopolitical issues such as the Ukraine war have resulted in disruption of supply chains, resulting in some of these effects.

Additional Costs and Taxes

When you are considering buying a new car, you should also take into account the associated costs. These include taxes and costs of insurance, transfer of ownership, increasing car security and more. Always try to find out how much these will cost before committing to buying a specific vehicle, and make sure you have enough money to cover it all. When seeking financing for a vehicle, you should also include all these extra costs in the cost of the car as well, so that you can simply buy and drive the vehicle. Otherwise, you could find yourself owning a car, but owing the state and federal government a lot of money in taxes and other charges.

Financing A Car – Why It Makes Sense

When considering purchasing a car, getting car financing is an option that should definitely be explored. Considering that some vehicles may be considered depreciating assets, it may be difficult for many to consider getting a loan or financing for the vehicles. However, there are numerous benefits associated with financing a car, and if you are careful you may not even pay a lot in interest. In this sense, it is better to finance a car rather than use other means of paying for it. Some of the benefits of this include:

The Total Cost is Clear

Unlike many other types of financing, car financing tends to be very transparent. Of course, this depends on which company you depend on getting the financing from. Firms with a lot of experience in the industry tend to be more adept at providing car financing. You may be given options regarding how much down payment you want to make as well as the duration of payment and how much you want to pay each month. You get to finance the car using a payment plan that is tailor made to your specific budget and needs. Paying for the car will therefore not be a strain on your budget, as would other types of loans such as personal loans. With this in mind, you will know exactly how much you will end up paying by the time you are done paying for the car. If it seems too steep, you can always seek financing from another firm that offers fairer terms.

You may not Have to Pay a Large Deposit

You typically don’t pay a large deposit when financing a car, and in some cases you don’t even need to pay a deposit at all. As soon as you have signed the papers and agreed to a specific payment plan, you get to drive and use the car as if its yours. This is possible thanks to the fact that the vehicle is the security. This rule varies depending on the financier and the type of vehicle you buy. Luxury vehicles will attract steeper terms, such as the need to pay more of a down payment and will have higher monthly payments. If, however, you’re buying a vehicle that is affordable and which is easy to maintain, you will get unbelievably affordable terms. Reach out to us to find out which types of vehicles fit this bill.

Your Credit Score may not Have a Major Impact on the Financing

Unlike personal loans, mortgages and other financing instruments, your credit score may not influence the terms of car financing much. Even if you have a poor credit score, some companies will allow you to access car financing with ease since the vehicle is the collateral. Keeping up with car payments can also help build your credit score so that in future, you will not have trouble accessing other credit lines

A Step-By-Step Guide To Getting Car Insurance

After buying a used or new car, a crucial step before using it regularly is getting car insurance for it. With the rise in services such as online car purchases, first time car buyers may be a bit lost when it comes to this. Simply buying the first insurance product that you get is not always a good idea. If you buy the vehicle from a firm you can trust, you can consult them on finding affordable insurance. Some may even offer insurance as part of the package. More often, you may be on your own when it comes o this. There are a few tips to keep in mind to ensure you end up with cover that is not only legal, but which will be useful in the long term. You should also understand the steps to getting car insurance including:

Gather Information

Information is crucial when applying for car insurance and is usually the first thing you have to do is gather information that will be needed by insurance agencies. They usually use this information to determine how much to charge for the cover, as well as the types of service available to you. Critical information includes personal biodata, your address a copy of your driver’s license, car information and your driving history. This is the barebones basic information that any insurance company will ask for; many others will ask for additional data. Having this on hand before beginning to look for cover will make it easier for you.

Understand your State Car Insurance Regulations

Many insurance companies will try to sell you products that you do not really need in addition to the insurance. Find out the regulations surrounding car insurance in your state, so that you can understand the bare minimum that you need to have. When you approach an insurance agency or salesperson, you can then argue your case about what you need and avoid extraneous products which only serve to increase the cost of insurance. It also ensures that you meet the minimum threshold for insurance in the state you live in or in which you intend to stay and drive in.

Choose a Mode for Shopping for Insurance

Today, you have many methods of shopping for car insurance at your disposal. You can compare insurance agencies online and even apply for and get the insurance by submitting your documents online. Be sure that you only deal with legitimate insurance companies which have your security concerns addressed, so that you don’t end up sending personal information to third parties. You can also choose to buy insurance directly from an insurer. This can be less expensive since it bypasses any middlemen, but can make contact with the insurer difficult when you need to get in touch with them. This is because some may not have a specific contact person for you to call when you need help.

Alternatively, you can seek the service from a broker or agent who is not representing just one company. They can offer different insurance packages from different companies, allowing you to pick and choose just what you need. Captive agents only work for one insurance agency.

Decide on the Extent of Coverage you Need

Once you understand the basic coverage needed to satisfy the law in your state, you can then figure out the additional services you need from the cover. This way, you will be able to ask for exactly what you need and avoid being convinced to spend money on what you don’t need.

Watch Out For These 4 Common Used Car-Buying Scams

Buying a new car is an exciting purchase, no matter who you are and how many times you’ve done it. Like many other individuals nationwide, you may be interested in purchasing a second-hand vehicle rather than a brand-new one. However, buying a used car requires more legwork compared to a brand-new model, as well as more caution. Used car-buying scams and other vehicle scams are rampant, which is why we as consumers need to learn about them to avoid adding to the large statistic pool of victims.

Must Sell Now

The “must sell now” scams are a shining example of how some deals are too good to be true. The scam involves criminals posting deceptive ads that showcase real cars that they don’t even own with an unrealistically affordable price tag attached to them, claiming that their inventory needs to go. The scammers will then demand a partial payment upfront once a buyer approaches them for a deal. Unfortunately, once the payment goes through, the sellers vanish into thin air. To prevent yourself from falling for such scams, don’t be afraid to walk away from a suspiciously sweet deal. A car purchase should be a win-win situation for both the buyer and seller, making it an illogical and shady practice for a legitimate seller to sell at such a huge loss, making it a giant red flag.

Namedropping Legitimate Third-parties

Criminals that run auto scams often utilize names familiar to most shoppers to legitimize themselves, making potential victims lower their guard. Usually, they leverage the names of reputable, trustworthy third-party companies such as eBay Motors, without actually being affiliated with such organizations. To avoid falling for such schemes, you should research the seller’s identity further with a critical eye, by looking up the seller’s company online, rather than simply trusting and taking the contact information they provide at face value.

Accepting Alternative Payment Methods

If a used car seller recommends you use certain obscure payment methods, it’s an enormous red flag that you need to detect immediately before it’s too late. Most of the time, scammers will persuade you to pay using an alternative currency that’s difficult to trace, such as gift cards and wire transfers to evade the law. Once you’ve fallen victim to such scams, you’ll most likely be unable to recover the payment you made, much less the car you were buying. Instead, never use such payment methods when purchasing a second-hand car, as no legitimate seller would prioritize such platforms over cash and credit.

Curbstoning

Curbstoning is the illegal sale of damaged or salvaged used cars for profit. Curbstoners can either be suspicious private sellers or even unethical dealers pretending to be private sellers. Usually, unsuspecting buyers are lured into open spaces such as parking lots or residential areas and are persuaded into buying a car that’s dressed up with superficial cosmetic improvements to hide their flaws. Such scams lead to serious consequences such as buying a car with the odometer rolled back, undisclosed dangerous flaws that make it unsafe to drive and experiencing problems with registering your car with legal documents like the car title.

Lien On A Car: What Is It?

If you’re interested in purchasing a car with a loan, a lien is a part of the process that you shouldn’t ignore. While it may be difficult to wrap your head around at first, the lien on a car can have a significant impact on your car ownership journey. Hence, before you close that deal, it’s time to learn the ins and outs of car liens!

What is a Car Lien?

Think of car liens as insurance policies for lenders when you take out a loan to purchase your new car. Lenders use car liens to ensure they’re protected, in case a client defaults on the loan (breaching the loan contract by failing to make principal or interest payments). The car you purchase with said loan will have a lien on the car title, preventing you from receiving it until you pay off the loan to completion. If you default on the loan, you’re opening yourself up to severe consequences, because the lien on your car allows your creditor to repossess the vehicle when you do so. On the positive side, if you have poor credit, paying off your car lien can help you to rebuild it, and most of them offer lower interest rates.

Buying or Selling a Car with a Lien

When buying a used car, you don’t want any strings attached, so you should ask the salesperson if the car you’re eyeing has a lien on it. If so, the dealership will usually handle the paperwork to transfer the title to you. However, if you’re buying a car second-hand from a private seller, you’ll need to check the car’s lien status yourself. In most cases, the seller needs to pay off their auto loan to arrange for the lienholder to transfer the car title to you.

Checking Lien Status

Before closing the deal with a private server, it’s important for your safety that you check the car’s lien status. Depending on your state, your local DMV website can help you to conduct lien searches as long as you have the car’s vehicle identification number (VIN), which you can find on certain documents such as the car’s registration card, insurance documents, or located on the car itself. Most importantly, you should request a vehicle history report through a provider, as they provide much more information necessary for a car buyer to know before making a purchase beyond lien status, such as odometer readings, major damages, and previous owners.

Releasing the Car Lien

The easiest way to get a lien lifted from the car you’re buying is to have the seller pay off their auto loan to free up the car title for you to obtain a lien release. If the lienholder is a failed bank or its subsidiary, you can obtain a lien release by submitting a request to the DMV or the lienholder. If not, you may have to rely on your lender to communicate with your seller’s lender to complete a lien-free title transfer. Hence, it’s important to ask your lender about their policies and protocols for when a vehicle has a lien on the title.

Just Bought A Car With No Title? Here’s What To Do

Congratulations on your new car! However, the car may not technically be yours yet if you bought a car with no title. What makes a car legally yours is having a title that proves you own said car. While it may seem tiresome at first, completing the car title transfer process is crucial. You’ll thank yourself for going through the trouble when you’re enjoying your new ride, free of all the paperwork!

What Is a Car Title?

Before transferring a car title, you should first understand what a car title is. A car title is legal proof of the ownership of a car. You may have heard of a car title being referred to as a “pink slip” in the past. However, they’re rarely pink nowadays, their appearance varying by the state you’re in. Despite their differences, they usually include the same key points of information:

• Vehicle identification number (VIN)
• Make
• Model
• Year
• Odometer mileage
• Date of registration

Another concern besides purchasing a car with no title is purchasing a car with a fake title, some telltale signs being incorrect information and discoloration on the document.

Why Are Car Titles Important?

Owning the title is important because it’s legal proof that you officially own the car. If any impactful events or damages are involved with the car in the future, the title changes along with those incidents to reflect the details of them, to inform any of the car’s future owners about its history. Obtaining a car title is important in the same way as any other legal document is, which is to prevent any related legal complications that could occur. For example, if you want to sell the vehicle again, you’ll need the title to change hands, making it a necessary part of your car’s life cycle.

Before Buying a Car With no Title

Before you close the deal, you should have a clear picture of the previous owner’s situation with the title. In most straightforward cases, you’ll receive the vehicle title when you pay off your car loan, the lender keeping the title on file in the meantime. You should also confirm the vehicle’s lien status, ensuring that the current owner doesn’t have an ongoing loan associated with the car preventing you from receiving the car title. Taking precautions such as verifying that the VIN on the car and paperwork match up, and ensuring that there aren’t any additional owners listed on the title will make sure that you don’t fall victim to common schemes such as title washing and title jumping.

How To Transfer A Car Title

The process, while intimidating at first glance, is fairly simple. Usually, the seller is supposed to fill out the title document with some required details, sign it, and relinquish ownership of the car to you. Afterward, you can collect your new title and register your new ride at the DMV! This process has become even simpler in recent times, with many states’ DMVs offering you the option to transfer your car title online and pay for the fees involved with your credit card. If not, you can still take the route of transferring your title by mail or in person.

Buying A Used Car? Tips For Getting The Best Deal

If you’re interested in buying a pre-loved car as your new ride, you aren’t alone! Used cars have consistently been selling more than brand-new ones by more than double for years, due to the amount of value we get from them. Unfortunately, this means that demand in the second-hand vehicle market is high, and you’ll need to be competitive to snatch your dream car. Hence, here’s how to get the best deal on a used car!

Research, Research, Research!

Consider what you’ll be using the car for every day, and what features would be useful for such use cases. For example, if you’re bringing your little ones along for the ride, you should add child safety features to your checklist. Alternatively, if you’re going to drive for the whole family, feel free to count two-seaters out of your criteria. Once you have a solid list of features you’re looking for, you can be more precise and confident with your choices at the dealership.

Remain Firm on Your Wants and Needs

Don’t let your guard down when shopping for your soon-to-be new car! While being a savvy shopper is about getting the best deal for yourself, your local dealership will be full of savvy salespeople, who are all about getting the most profit for the company. When you’re shopping around for a second-hand car, ensure that you remain firm and confident in what you want and how much you want to spend. Furthermore, avoid buying into extras offered to you, whether they’re car mats, mudflaps, or trunk trays.

Compare Like a Savvy Shopper

Smart shoppers know how to shop around! If you’re hunting for the best deals in your area, it’s in your best interests to get quotes from a variety of dealers and manufacturers. Not only does this help you to discern where you can get the best deals, but you could also show like-for-like pricing to your local dealer, which can earn you a discount or price match.

Run Background Checks

The Federal Trade Commission advises used car buyers to obtain a vehicle history report on the used car you’re eyeing before closing the deal, and for good reason! Unfortunately, some car dealers break the rules, and you don’t want to end up buying a write-off or stolen car. By simply entering the car’s vehicle identification number (VIN) on a vehicle history report provider’s service, you can have the car’s background at your fingertips. If you suspect fraud, walk away from the deal and contact the authorities.

Negotiate Wisely

Negotiation is a two-way street, so it needs to end with a win-win result for both you and the salesperson. When negotiating with the salesperson, you should come prepared. A good practice to keep in mind is to decide on your initial offer and the highest amount you’re willing to pay, giving you a range for some flexibility to work with. At the end of the day, there are millions of cars on the used vehicle market, so there’s plenty more fish in the sea if a deal doesn’t work out.

5 Common Used Car-Buying Mistakes To Avoid

While many sources teach you what to do when purchasing a second-hand vehicle, not enough tell you what not to do! However, it’s important to know the common used car-buying mistakes buyers tend to make because making a rookie mistake when buying a used car can turn out to be an awful experience. By learning what mistakes buyers commonly make when shopping for used cars, you can avoid them like a savvy shopper would, even on your first try!

Biting Off More Than You Can Chew

There’s nothing more disappointing than falling in love with a car, before finding out that it’s beyond your financial means. Before you even start shopping for your dream car, you’ll want to set some expectations for yourself. Used car prices are much more reasonable nowadays, but they’re still a big commitment. Thus, you should assign a budget to the car purchase, such as down payments and monthly payments.

Not Knowing What You Want

Not knowing what you want when shopping for a used car can waste not just your precious time, but the salespeople at the dealership too. While you don’t have to narrow all of your options down to a single model, make, and year, you should still have a reasonably clear idea of what kind of car you’re looking for when you enter your local dealership. What you can do instead is to create a checklist of must-haves for your dream vehicle ready, such as features that you’ll need for daily use.

Not Confirming Your Dealership’s Reputation

Nearly all car dealerships carry second-hand inventory, but not all of them play by the rules. Not checking a dealership’s reputation can lead to you having a terrible experience with troubles like bad customer service or even falling victim to fraudulent practices. Thus, as a used car buyer, you should do your homework on the dealerships you’re visiting, and avoid the ones in your area that display any obvious red flags, such as a significant amount of negative reviews.

Being Too Hasty

While you need to remain competitive to ensure other buyers don’t snatch up your dream car, rushing into closing the deal on a used car is a huge mistake. Many shoppers prefer brick-and-mortar establishments over online auto dealers, the greatest reason being the ability to test drive their soon-to-be new ride. Doing a test drive on a second-hand car gives you an insightful sneak peek into how you’ll be using the car every day, giving you the confidence to make the purchase and seal the deal!

Not Obtaining a Vehicle History Report

Keeping yourself safe is key when purchasing a new car, whether you’re buying from a dealer or a private seller. You’d want to know all you can about this big purchase and commitment you’re making, such as the car’s history of owners and any major damages suffered. By simply acquiring the second-hand car’s vehicle identification number (VIN), you can obtain a vehicle history report that helps you to understand a lot more about what you’re getting yourself into.