1800-978-4950

6 Steps To The Perfect Used-Car Purchase

A used car or truck can be a sound, money-saving alternative to investing in a brand-new automobile. To be completely honest, many experts in personal finance across Brampton, the Greater Toronto Area and elsewhere agree that cycling through progressively newer used vehicles over the course of a decade or so can be an effective means to gradually afford a new one.
 
Every month, just put away the money you would’ve probably spent toward keeping up a car’s payments. Within 10 years, you’ll probably be able to buy a new car or truck with cash up front.
 
It’s like any other purchase, though: your options abound across the extensive Brampton lot of Quixl Autos, making it a challenge to discern which one suit you best. Fortunately, there’s an informed process to having a clear vision of your ideal automobile before you ever set foot inside a showroom…

2006-Mitsubishi-Lancer-1037696-7-sm

WHAT DO YOU NEED?
The paces that Canadian owners put their vehicles through will differ. Buy accordingly.

If you have a pack of four kids that all play sports, then a sporty two-door coupe won’t do for commuting the whole team between soccer, hockey and baseball games for years to come. Just the same, a lengthy daily commute across Brampton and the Greater Toronto Area’s highway network demands more efficient gas mileage than most massive SUVs can deliver.

Have a grasp of where you’ll be driving, how often, with how many passengers and for what length of time per trip. In addition, take a few other practical concerns into consideration:

  •  What’s your preference, automatic or manual transmission?
  • If it’s an all-wheel drive vehicle – and accordingly priced higher for it – then ask yourself: how often will I really need it?
  • Does it have the cargo storage that I need?
  • Will I ever need to tow anything with this, and could it handle the job?
  • Do the seats adjust well?
  • How does it fit within my available parking or garage space?

WHAT CAN YOU AFFORD

Here’s another used-car advantage: with savvy shopping, you could find a quality vehicle that you can afford to own outright with no monthly payments. Still, it’s also entirely possible that the automobile you need requires a loan to put the keys into your hand.

Here’s where you once again need to be honest with yourself: what size monthly payment can you afford to make reliably?

It’s a conservative guideline to set your monthly-payment ceiling at 20 percent of your estimated monthly take-home pay. If you already have a vehicle in mind, this is also a great time to research the make & model year’s true market value (TMV) to grasp what defines a “fair” price for what you specifically want to buy, the average one other buyers in your area have paid for it.
 
TO LEASE OR BUY?

Neither leasing nor buying is respectively always ideal for everybody. Once more, keep in mind the general advantages and disadvantages of each, but weight them against your personal set of circumstances.

To begin, leasing saves you money in the short run by asking less money down – or even no down payment at all, in some instances – and attaching more affordable monthly payments. On the other hand, you’re without wheels again when the lease ends. Purchasing, meanwhile, costs you more up front and in monthly payments after that but leads eventually to owning a car outright.

What else should come to mind? Well…

IF YOU LEASE…

  • You may be able to drive a car that costs more than you could ordinarily afford
  • Variety is the spice of life: you get a new car every several years
  • No sweating a trade-in when the lease comes up

IF YOU PURCHASE…

  • Sell the car whenever you’re ready
  • You’ll pay less in the long run, once you fully own the vehicle
  • Drive as many miles as you want or need with no high-mileage penalties
  • Customize your ride at your leisure

 

HOW BIG A SELECTION ARE YOU CONSIDERING?

Even once you know the class of vehicle you need or want, embrace the variety available between assorted makes and models.

There’s extensive competition among vehicles even in the same class. Sometimes, you’ll find yourself weighing some crucial factors. It may come down to one vehicle’s superior mileage versus another’s durability. Another might handle with unparalleled smoothness but sport a questionable safety record, while another may be the most secure set of wheels on the road while providing a cumbersome overall ride.

In the end, sweat the details considerably. Don’t be afraid to consider other auto-makers if one’s offering in the class you need doesn’t pass your exact muster. You don’t necessarily need to settle.

HOW PREPARED ARE YOU TO OWN?

There’s the cost you pay on the sticker. After that, there’s everything that keeps you on the road.

Certain other costs will vary from one vehicle to the next. Gas mileage will give you a more-than-fair idea how much you’ll end up paying in fuel costs. Keep in mind, there’s a certain truth in the saying that a car depreciates in value the moment you drive it off the lot.

In addition, you’ll be paying the ongoing costs of maintenance and insurance throughout the automobile’s life. Carefully size up how these costs differ from automobile to automobile.

 

SIZE UP THE TEST DRIVE

Believe it or not, there is a “right” way to test-drive.

What is it? Simple: the way you’d drive it as an owner. It’s wise to get a feel for it both in traffic and on the highway. For an impression of how it handles in uneven terrain, take it through some steeper hills with bumps, tightly wound corners and other ups and downs.

Finally, tinker with some features such as the seat adjustments, windows and radio, to name just a few. Consider your physical comfort as you get in and out. Remember, you could be with this vehicle quite a while…

When you’re ready to buy, Quixl Auto in Brampton is ready for you. Your visit to our lot is guaranteed to be hassle-free and attended to by an associate ready to accommodate every question you could have. We’re in the business of keeping Toronto’s drivers on the road, safe and happy with the Greater Toronto Area’s most courteous servicing and sales staff.

Copyright © 2006-2013, All rights reserved.