Everything you should consider before buying a used vehicle

30 October 2024 - 13:25
By Motoring Staff
As new vehicle prices climb above inflation many buyers are turning to the used car market for more affordable options.
Image: Supplied As new vehicle prices climb above inflation many buyers are turning to the used car market for more affordable options.

With rising costs and vehicle depreciation hitting consumers hard more people are turning to the used car market for affordable, high-quality options. 

Though buying a pre-owned vehicle can be a smart choice, it’s important to keep a few key factors in mind to avoid potential pitfalls.

“A used car can offer exceptional value but smart choices must be made to secure the right vehicle, said WeBuyCars sales director Janson Ponting. 

“Before you start shopping, be clear about your requirements and make sure to perform the necessary checks to ensure you’re purchasing from a reputable dealership.”

How you plan to use the vehicle will determine which vehicle is best for you. If you never venture further than the shopping mall, a fully equipped 4x4 isn’t necessary. If it’s just you and your partner, a small two-door might suffice. For families, a larger vehicle with sufficient boot space is more practical.

If you aren’t driving the vehicle often or far, buying a high-kilometre vehicle with a good service record is not necessarily a bad idea. However, if you need to drive the car often and plan to clock up many thousands of kilometres it is wiser to look for a vehicle with lower mileage.

Don’t make assumptions about features or performance — always verify the details. Never assume a vehicle has features such as Bluetooth or good safety ratings, rather get your facts straight beforehand and ensure all options or extras are there.

Some vehicles may not meet safety standards and could put you at risk. Research the vehicle’s Euro NCAP safety rating to help you decide whether the vehicle’s safety is up to standard. The vehicle industry is awash with acronyms, so you must familiarise yourself with terms such as ABS (anti-lock braking system), ESP (electronic stability programme), EBD (electronic brakeforce distribution) and ensure the vehicle has a functioning airbag.

As new vehicle prices climb above inflation and new cars lose significant value as soon as they leave the showroom, many buyers are questioning the financial sense of purchasing a new car.
Image: Reuters As new vehicle prices climb above inflation and new cars lose significant value as soon as they leave the showroom, many buyers are questioning the financial sense of purchasing a new car.

“When purchasing a vehicle don’t set yourself up for unexpected costs,” said Ponting.

“Make sure you understand the full picture [about] additional costs over and above the purchase price. Do some preliminary research into additional costs such as insurance, the cost and availability of warranties as well as the cost and accessibility of the specific vehicle parts. It is also important to consider the vehicle’s fuel usage and costs.”

Look at the resale value of different brands and models to understand how much you might get back if you decide to sell the vehicle in future.

Check if the vehicle still has any existing warranty and review its service records for regular maintenance.

Take the time to consider your options and walk away if you feel pressured into a deal. Don’t rely on the advice of the salesperson only — after all, no-one understands your needs better than you. If you’re not well-versed in cars it’s a good idea to have a trusted mechanic inspect the vehicle to help you avoid costly surprises down the road.

Take your time reading the terms and conditions and ensure you understand everything before signing. If you’re unsure about any phrase in the terms and conditions ask someone to explain it to you.

Last, go for a test drive to assess whether the car is a good fit for you. Everyone has their own preferences which is why it’s crucial to get behind the wheel and experience it for yourself. If you are looking to buy a family car take the family along for the test drive and make sure there is enough space for everyone and everything.

With these tips in mind you can find a used car that fits your needs and your budget. While purchasing a vehicle is a significant financial commitment, a thoughtful approach can help you drive away in the car of your dreams. Just make sure you have covered all the bases and have had all your questions answered.