Fewer new cars are being manufactured in the country after the pandemic. While brand-new models have advanced features, buyers get limited options to consider. Here, pre-owned cars are the perfect means to get an affordable automobile with suitable features. However, owners may hold on to cars longer due to the waiting period for the latest models, so limited used cars enter the market. So, here are a few tips for finding and buying pre-owned cars:

Tips
The obvious benefit of buying a pre-owned car is that it helps you save money on registration, tax, insurance, and depreciation. With hundreds of dealers and websites selling pre-owned cars, you can find many options. So, here are some tips for buying a good pre-owned car within your budget:

Set a budget
Set a reasonable budget and figure out your financing options like loans. Further, if you are utilizing your savings, set aside some money for insurance, repairs, and registration.

Use a loan calculator
Use a loan calculator to determine your monthly payments and loan terms. Ideally, expenses related to your car, including loan payments and gas, should not be more than 20% of your monthly income.

Choose a suitable type
The price of an old SUV could be much less than a smaller, new car. You should make a decision based on the seating capacity, the type of car— sedan, hatchback, or SUV, and the safety features you want.

Begin your search
The first step here would be to ask for your friends and family who may have a car they want to sell. They might even know places that sell second-hand automobiles. The best places for buying pre-owned cars are:

Website and local dealerships: Check company websites like Ford, Toyota, or Honda if you are looking for specific brands. Many leading car brands sell certified pre-owned models.

Pre-owned car dealership: Pre-owned car dealerships offer all brands and types of cars. They help you with documentation, registration, and insurance and check the cars for repairs and maintenance. Some of the leading dealers include CarMax Inc, Sonic Automotive Inc, Penske Automotive Inc, Auto Nation, and Asbury Automotive Group.

Websites and apps: You can also buy pre-owned cars from websites and apps like Autotrader, CarDirect, Hemmings, CarGurus, and AutoTempest.

Private-party sales platforms: Aggregators curate listings of pre-owned cars from individuals, online retailers, company websites, and car dealers. Popular examples include Facebook Marketplace and Craigslist.

Use a pricing guide
Once you find a few cars that you like, refer to pricing guides to estimate the price of the car based on the model, features, and overall condition. Compare prices from auto dealers for similar models and know the approximate amount you would have to pay for the car you want.

Contact the seller
Once you have this information, reach out to the seller and understand in detail about the car they are selling, its usage, condition, repairs that may be necessary, and the history of accidents, if any. If you are happy with the car’s condition, get it professionally inspected by a reliable mechanic.

Take a test drive
Schedule an appointment, inspect the car, and take a test drive to check for potential problems.

Negotiate the price
Negotiate the price with the seller, starting low and going up in increments of $250. Once you get the price you can work with, complete the purchase.