8 Tips for Buying a Used Car

Buying a used car can be a sensible option for anyone looking to buy a car, whether they do not have the funds to make a substantial investment in a new vehicle or simply prefer a second-hand model. However, buying a used car also has its drawbacks, so it calls for extra care at every stage of the transaction.

1. Think twice before buying

“Do I really need the car?” Ask yourself this question. Establish your needs and, above all, your priorities. If you are buying a used car only to leave it in the garage or drive it at weekends, factor in the other costs, including insurance, vehicle excise duty and potential maintenance bills. It may seem like an opportunity you cannot miss, but remember that the costs of a rarely used car are “much the same” as those of one driven every day, while its depreciation is virtually identical.

2. Do your research

Finding the car that best suits your needs is essential. Visit dealerships and online car-sales websites, such as OLX, AutoSapo and Standvirtual, and ask for information about the vehicle and payment method. You can also look at manufacturers’ websites, as many offer approved-used programmes with highly attractive warranties. “Those who ask questions do not get lost; they buy a good car.” The key is to make a considered purchasing decision, setting aside impulse and emotion in favour of rational thinking.

3. Get help inspecting the car

Have you chosen the car? Excellent. All that remains is to take it for a test drive. Our advice is to take the car to someone you know and trust, preferably a person with sound mechanical know-how. If you do not know anyone suitable, you can use workshops that inspect used cars, such as Bosch Car Service, MIDAS or even the manufacturer of the vehicle in question.

4. Check the key details

If you would rather carry out some checks yourself, these are some crucial points you should not overlook: look for rust, dents or dings on the bodywork; check the condition of the tyres, lights and paintwork; and test the doors and bonnet opening. You should also assess the upholstery, seats, seat belts, every button and function, mirrors, locks and ignition. Start the engine too, to see whether the dashboard displays any fault warnings. Finally, check the oil level and the battery’s expiry date. It is then time for the test drive, during which you should test the brakes, steering alignment, gearbox and suspension. DECO provides a checklist that you can use in these situations.

5. Research the price

Feeling “ripped off” is one of the worst feelings there is. To avoid this, online sales websites such as AutoSapo can estimate prices using mileage and other distinguishing features. On Standvirtual, you can even find out the most appropriate price for the car you have selected. You only need the make of the lucky vehicle, its model, registration year, mileage and fuel type.

6. Calculate the insurance cost

This is another occasion to be “thankful” for the existence of online comparison tools. With a simple quotation, you can obtain an estimate of how much your car insurance will cost.

7. Check the paperwork

If you are definitely going to buy a used car, it is important to complete this step before paying any deposit for it. Check that all documents are up to date, including the ownership registration and vehicle registration certificate. The Automobile Club of Portugal (ACP) recommends taking particular care to check the seller’s name and ensure it matches the name on the vehicle documents.

If it does not, you should check whether there is a sales declaration signed by the owner. Also confirm that the chassis and engine numbers match those shown on the single vehicle document, and whether there is a charge on the ownership registration in favour of a credit provider. The ACP also warns that removing such a charge may involve an additional cost.

You should also have access to the service book, security and anti-theft codes, the car’s instruction manual, inspection certificate and proof that stamp duty has been paid.

8. Confirm the vehicle warranty

If you are considering buying the vehicle from a private seller, you should know from the outset that a warranty is not compulsory. However, the car may still be covered by the manufacturer’s warranty, in which case you need to confirm that it remains valid. If you buy the vehicle from a used-car dealership, you are entitled to a two-year warranty (or a minimum of one year, if the buyer and seller agree to this). You should always have the warranty terms in writing, including its duration, the cover it includes and your obligations as the buyer.

Do you think anything is missing? If you have already bought a used car, share your tips here!

Source: Caixa Geral de Depósitos