Evaluate how well a Used Car meets your needs and compares to competing products
If you've completed step one you've identified what you need in a used car and you've learned about the different features of used cars. While you were doing your research, you probably started the process of determining which features - and thus which type of used car - will best meet your needs. Now you are going to continue that process, but in greater detail.
In this step you will
evaluate the used cars available on the market to determine how well they meet your personal needs and establish, by a process of elimination, an initial short-list of contenders. Then you will compare these short-listed used cars to find out which ones stand out from the competition.
Evaluate how well a Used Car meets your needs
Your priority at this point in your evaluation is to find the available used cars in the market that best meet your needs. You can save a lot of time during this activity by quickly eliminating any used cars that are unsuitable because they don't meet your key requirements. For example, if you have a limited budget for this purchase then you can ignore any used cars that clearly exceed your price limit.
Purchasing a used car is one of the most common ways to buy a car. In fact, it often makes good financial sense to buy a used car instead of a new one. When you are making the decision to purchase a used car, you need to make some of the same decisions that you would when you are buying a new one. The first major decision that you need to make is what type of car you need.
Maybe you are upgrading from a compact car to a midsize or a full size because you are having a child. Or perhaps, you require more space and you need a mini van or an SUV. If you are single, or your children are grown, you may want to look at getting yourself a smaller car.
Tip: When you are deciding what type of car to purchase, evaluate your needs carefully and choose the right model for you.
Unlike buying a new car, there are a few different options for you when it comes to purchasing a used car. You can go to the car dealerships that you would go to when looking for new car, they generally also have a used car division. There are many car lots that are completely dedicated to used cars as well. The other very common way to purchase a used car is by a private sale, from the previous owner.
No matter where you decide to purchase your used car, it is important to choose a sales method that works for your needs. If you need financing, you will likely need to look at a dealership or a used car lot for your car, unless you can arrange your own financing elsewhere and effectively pay “cash”. However, if you do have the cash then a private sale is a good way to go.
Tip: Choose a sales method that allows you to feel comfortable. If you are uncomfortable with the sales process, purchasing your car will not be a good experience.
Another thing to consider with a used car is the warranty that is available. If the car is only a few years old, there may still be some manufacturers warranty left on the vehicle. Car dealerships, may offer extended warranty on the vehicle as well. This is a great option if you are unsure whether the car will have problems because it is used.
It is important to do an inspection on whatever used vehicle you are considering. By taking the VIN number of the car and having it checked by the department of motor services, you will be able to see the history of the vehicle and if it has been involved in accidents. It is also important to check the past service records for any repairs for general servicing that has been done on the vehicle.
Tip: It's a good sign if the previous owner has records of all the repairs and servicing that has been done on the vehicle. You will be able to see what type of general care the car has had.
No matter what used car you are planning on purchasing you should do an inspection on certain areas of the vehicle. It is important to inspect areas such as the transmission, the engine and the general appearance of the body. If you are not comfortable doing the inspection, or if you do not have the knowledge take the vehicle to a mechanic for a thorough inspection.
Just as with a new car, you will be able to make some decisions as to the features of your car. You will be able to select a car that has some of the features that you want. However, unlike a new car you will not be able to hand pick everything that you want in your car. The age of the used car that you are looking at will often determine whether or not certain options and safety features are available.
It is important to remember that when you are purchasing a car that is used, it will not be in as perfect condition as if you had purchased new. The goal should not be to get the cheapest price on the car, or to find the vehicle that is in the best shape. The ideal goal should be to find the proper balance between the condition of the car and the price of the car.
When you were considering your requirements in a used car it's likely that you singled out certain factors such as type of vehicle, engine size and efficiency, features offered and cost as being of major significance. As with so many other products, the more features offered, the higher the price.
Buyz123 has created a checklist containing examples of major features; you can work from this checklist when evaluating how well various used cars meet your personal needs:
Features Checklist
Type
- Compact
- Midsize
- Full Size
- Luxury
- SUV
- Minivan
- Sport
Motor
- Automatic - 4 speed or 5 speed
- Manual - 5 speed or 6 speed
Drive
- Front wheel drive
- Rear wheel drive
- All wheel drive
Fuel Efficiency - miles per gallon (mpg) kilometers per liter (kmpl)
- City - 14 to 26 mpg (6 to 11.1 kmpl)
- Highway - 30 to 35 mpg (12.7 to 14.8 kmpl)
Inspection
- Personal
- Mechanic
- Engine
- Transmission
- Body
- Purchase
- Car dealership
- Used car lot
- Personal sale
Car History
- VIN number
- Repair and care records
- Consumer reports
Support
- Manufacturer warranty
- Seller's extended warranty
- Manual
- Recall alerts
- Financing
- Repair and care records
Features
- Safety belts
- Heating/cooling system
- Sound system
- Anti- theft
- Interval wipers
- Halogen headlights & running lights
- Sports package
- Tilt steering
- Cruise control
- Sun Roof
- Power windows
- Power seats
- Speciality brakes
- GPS tracking
- Keyless entry
Pre-buy
- Inspect tires
- Inspect engine
- Start car
- Test drive
What to watch for
- Tire wear
- Excessive paint damage
- Evidence of body work
- VIN # stickers
- Crooked or loose windows
- Excessive mileage
- Oil leaks
- Poor suspension
- Wheel damage
- Interior wear
- Rust free
- Door, trunk (boot) closure
Price reference books
- Black book
- Kelley Blue book
- NADA guide
- Edmunds book
Purchase Options
- Dealer finance
- Cash
- Cheque
- Bank draft
- Credit card
VIN # Sticker
- Match number
- Door
- Trunk
- Hood
- Auto check
Contract
Shipping
There are a lot of features listed here, and some of them may not be relevant to your particular requirements. So, work your way through the list and assess how each of these features impact on your used car needs. You can then create a personalized checklist of the features you really require.
Once you have finished evaluating the used cars available for sale in the light of your personal needs and arrived at a short-list of 'possibles' you are ready to progress to the next stage. This involves comparing the used cars one-on-one in order to find those that really stand out.
Evaluate how well a Used Car compares with competing Used Cars
Comparing the items on your interim short-list, one to another, is an important part of the purchasing process - we all want to buy the best vehicle we possibly can. So once you have established a short-list of used cars that meet your needs it is time to evaluate how well they compare in fine detail. This way you can assemble a select list that stand out from the crowd.
Questions to ask yourself:
Which used car on my short-list offers the best value for money?
Which of these used cars best meet my needs?
Which of my short-listed used cars has the best warranty?
Which used car is the easiest to drive?
Which of the used cars seems of the highest quality?
Which short-listed used car has a full service history?
Which used car do I like best?
By answering these simple questions, you are actually eliminating used cars that aren't absolutely right for you. This is an excellent time - if you haven't done so already - to evaluate how well your short-listed products measure up in the following areas: Physical Quality, Warranty Conditions and Accessories & Extras.
Physical Quality
Regardless of the method you use when purchasing the used car, you need to find an opportunity to examine the product to evaluate how well it is made, and to check that it is truly suitable for you and your purpose. This is the time to examine the quality of the materials, and how well the car is put together. Check the assembly - is the car solidly constructed? It's also important to examine it from the perspective of ease of use. How easily is the used car prepared for cleaning and maintenance? Are the controls easy to use? Make sure the car fits you physically, and that it is user-friendly - some used cars look great on paper, but unexpected problems will show up when you finally get your hands on them.
Physical Inspection Checklist:
- Materials - quality, appearance
- Assembly - all parts held together securely, good quality fittings
- Solidly constructed - stable, no loose components
- Proper fit of removable parts - easy to remove and replace, fit snugly
- Controls - visible, easy to use, accessible, clearly labelled
- Size - appropriate for surroundings and purpose
- Appearance - well finished, appropriate color, neat fittings etc
- Easy and comfortable to drive
Warranty Conditions
Similar products may be available with significantly different terms and conditions, and you want to get the best deal you can. Parts and labor are often covered under separate warranties, for different time periods; sometimes there can be a significant difference in the warranty offered with one model compared to that offered with the next model up. It is particularly important to investigate any conditions that might void a warranty, such as if you don't use an approved workshop for repairs..
Warranty Checklist:
- Duration - check the specifics
- Parts, Labour, Mechanical, Electrical
- Exactly what is covered
- Exactly what is excluded
- Conditions or actions that may void the warranty
Accessories, Extras and Consumables
When evaluating similar products, it is a good idea to include accessories in your assessment. You need to be clear if any accessories are really necessary to run the car to its full capacity, and whether these are included with the purchase. What else is required - do you need spoilers, for instance? What about a contract or service plan? It's also important to consider consumables, such as servicing - some products have higher associated costs than others.
Accessories Checklist:
- Accessories - included or extra cost?
- Registration - what are the time frames and costs?
- Consumables - how often and how much?
- Contracts or Service Plans - conditions, penalties, costs
- What else will you need to get the most out of your car?
Once you've worked through the Evaluation step you will have a final short-list of used cars that meet your needs and stand out from competing products on the market. It's time then to move on to the third and final step: Purchase.
Video Links
Buyz123.com Research Links:Side-by-side comparison used carsSide-by-side comparison of used carsUsed Car Values Comparing used carsUsed car accessoriesCar and Auto Interior AccessoriesCar accessories