When shopping for a used car consumers may be in a hurry. They are often on a tight schedule and do not have the time to devote to each vehicle they are checking out.
In years past, used car buyers have had more choices. Under the Cash for Clunkers program cars were not only hard to find, but often expensive. For a $4,500-$5,000 cash for clunker program, consumers would trade in an old vehicle to take advantage of a large rebate.
There are currently very few cash for clunker trade ins available. Most manufacturers have strict requirements as to what vehicles they will accept. Many other factors determine whether a particular used car buyer will be able to take advantage of a program such as this.
Ask yourself these questions before you determine whether or not you will able to take advantage of a cash for clunker trade option:
Will my vehicle qualify under the Cash for Clunkers program?
Under the Cash for Clunkers program, GM and Ford vehicles cannot be traded in. Some vehicles, such as passenger cars, can be traded in even if they are not on the eligible list.
What is my vehicle worth?
The National Automobile Dealers Association recommends that you ignore the retail value listed on the Clunkers listing. Your vehicle is worth what it is worth and probably more than what you are offering as a trade in.
Do I have time to shop?
The time factor is important when looking at how much cash for clunker trade is really worth. It typically takes at least six months to find a car that you are interested in. A six month window is a lot of time to narrow down choices and test drive cars.
If you are dealing with an older car that was on a used car dealers vehicle inventory when new car dealerships were first open, the savings may not be as good as if the dealer was able to immediately take one of these vehicles off the market.
What is my credit rating?
It is very important that you are able to get a clean credit history. Most any buyer will have some credit problems if they go shopping for a used car. You want to be able to have a credit history that does not have any reflectors so that you can see how to get more leads when shopping for a car.
If I do not have a lot of experience with new car buying, how do I know if I can trust the dealer?
Good European car dealers always offer some type of warranty or guarantee on each vehicle that they sell. For example, if the vehicle is stated as being new, yet it has known history, then you have some explaining to do. A warranty or guarantee will let you know that you are buying a vehicle in confidence.
Is there anything else I should know?
Whenever you are thinking of buying a used car, you need to be sure that you are buying a car that is mechanically sound. Minor repairs can become major problems within a few months of your purchase. Major repairs can also cost a lot of money. By doing a little bit of research and checking out a few of your local dealers, you should be able to make sure that you are buying the car that is right for you.