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Buying A Used Car

In the market for a used car? There are a few things you may want to consider before taking the plunge.

Finance First
The first thing you may want to look at is your budget. "How much money do I have to play with and how much am I going to need?" Seems logical enough, but lots of people find the car first and then struggle with the finances and other things afterward, which can often lead to heartbreak and frustration. Not having your act together can cause you to lose out on a good deal because there's always someone else out there looking at your dream car.

If you need to get a loan in order to complete the purchase then you should start checking out the various finance deals on offer before setting off car hunting. Find out if you qualify for a car loan, what you can qualify for and how much it will set you back each month. Avoid excessively high monthly payments: cars run on fuel, require maintenance and then there are things like insurance premiums, road tax and other out-of-pocket expenses that you will have to cover along with the monthly loan payment. Don't just focus on the monthly instalment.

Depending on your age, driving experience as well as the type of vehicle and its value, you could end up paying thousands of dollars to insure that car. It makes sense then to check around for auto insurance before you actually purchase your vehicle. Sometimes insurance issues can influence what you end up buying. You can call around yourself or be smart and use one or more insurance brokers who will take your personal details and check around for the best deal for you. Using a broker doesn't cost you any more. Oh, and insuring the vehicle in someone else's name can backfire big time if the car is involved in an accident while you are driving. In another article we will explore auto insurance a bit more and attempt to de-mystify this rather confusing but important issue.

Next: Car Hunting

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