5 Things Not to Do When Buying a Used Car

Learn How to Be Smart When Buying a Used Car

Although it is not an easy time to purchase a used vehicle, buying a used vehicle can often be cheaper than buying a brand-new car. If you’re a frugal person, getting the most bang for your buck is important!

In order to be smart when buying a used car, you’ll need to understand some common mistakes people make during the buying process. Acknowledging these frequent missteps is important because they can help you make better decisions when buying a used car. If you’re aware of what mistakes to avoid, you could probably purchase a preowned vehicle in the best possible condition and save money in the long run!

Take a look at 5 things not to do when buying a used car today:

Shop by Monthly Payments

Everyone wants to work with the lowest monthly payments when financing a used car. However, that shouldn’t be your primary focus when shopping for options because, in some cases, you can pay more than you might have anticipated. For example, even if you have a low monthly installment payment, your lender or financial institution can stun you with high-interest rates that can be difficult to manage. Several factors may contribute to this, including a longer loan term or a poor credit rating. So, even if you initially choose an affordable monthly payment, your loan can become expensive with the interest you must pay.

On the flip side, you don’t have to stick with the highest possible monthly payment. Instead, search for the right car with a monthly payment that works for your budget. What’s important is that you negotiate the best deal for your used car without having to spend an absurd amount on interest!

Ignore Red Flags

It’s easy to ignore the red flags on a used car when you desperately need it for transportation. But ignoring those glaring issues can be problematic once you drive the vehicle off the dealership lot! Not only could you have difficulties driving on the road, but you might have wasted money on a car that doesn’t work properly. That’s why it’s important to carefully review every aspect of the vehicle and go with your instincts. If a car doesn’t feel right to you, it’s possible that it isn’t. Some red flags when buying a used car include  Rust, excessive wear and tear, and any signs of damage to the body of the car that was covered up with new paint.

Forget to Shop Around and Compare Pricing

When shopping for a used car, look for how the dealer tried to sell you the vehicle. It can be easy to be persuaded by a dealer’s offer and buy the car then and there. However, if you buy the first car you see because of a tempting offer, you might have missed out on other good deals. It’s important to shop around and compare prices until you find the best bargain for you and your budget.

Be aware that it’s possible to negotiate down from the manufacturer’s suggested retail price (MSRP) with a dealer. You should let the dealership know if you believe the used car can be cheaper than the MSRP. You may be surprised at how much money you could save by making an offer below the suggested price!

Neglecting the Test Drive

Before you buy a used car, it is essential to test drive it and determine if the vehicle is worth the dealer’s price tag. If you don’t test the car you’re interested in, you could face future issues that can be expensive to repair. Keep an eye out for the vehicle’s handling and any noises in the car’s engine. If you find any red flags during your test drive, avoiding that car and finding another that feels secure for you is the best option.

Forgetting to Budget

Many experts recommend that people sort out their finances before buying a used car. If you don’t, you may have difficulty covering urgent expenses, such as rent, utilities, payments on title loans(like from LoanMart), or other debt, like your credit card or mortgage!

While buying a used car in those conditions sounds complicated, don’t forget that you can finance your vehicle over time. Research different financing options and look for one that fits your budget. You can negotiate the features of your loan with the lender to lower your overall costs and save money during the loan term! Make sure you’re clear on the details of your financing before signing on the dotted line.


Getting a used car can be dicey if you’re not careful. However, if you keep these previous warnings in mind, you can purchase your vehicle without worrying about potential financial risks.