How to Buy a Used Car at the Lowest Price

The last several cars I've purchased have been used cars. Why? Once you drive a new car off the lot it is immediately devalued by several thousand dollars. The first 60,000 miles of a cars life are the most expensive by far in terms of car depreciation. Why not buy a reliable used car at the lowest possible price instead?

Instructions

1

To buy a used car at the lowest price, you need to see have access to pricing on hundreds of cars. The best way I have found to do this is with Autotrader.com. They have thousands of vehicles listed within driving distance of your home. This way I can look at hundreds of used cars while sitting at home in my pajamas. But first you have to narrow down the number of available choices.

2

I like to use Consumer Reports to narrow down my car choice of used cars. Either purchase the latest Consumer Reports Car Buying Guide, or else check it out from your local library. I look for cars with a history of high reliability. Certain model years may be better than others. Select 2-4 models of used cars you would be interested in before going to Autotrader.

3

Once you're on Autotrader or a similar site, plug in the used car model and year range. Also include the distance you are willing to travel. Make the range big enough so that you have at least 100 used cars to choose from. You'll notice that for a certain model, year, and mileage there is quite a range of prices available. Certain models of used cars are in higher demand than other equally reliable models. For example, Honda Civics are always in high demand, but Nissan has very dependable models that would be comparable.

4

Once you have found a great deal, call the dealer. Let them know you saw the car on Autotrader and ask if it is still available. Confirm the price over the phone. Make sure there will be no hidden charges like repairs. Write down the name of the person you are speaking with. Once you get there, don't let the dealer change the price.