Checklist For Buying a Second Hand Car

Checklist for buying a second hand car

If you’ve decided to buy a used car, you can enjoy a good quality vehicle at a fraction of the original cost.

It’s true that buying a used car can have more risks than buying a brand new vehicle, but with our checklist, you’ll know exactly what to look for and what questions to ask.

Positive Lending Solutions are always on hand to help you through process positively and efficiently.

What to check when buying a second hand car

VIN validation:

Did you know that every vehicle has a unique serial number, which is used to identify the individual vehicle? This is great when you’re buying a second hand car as it can be used to make important checks including:

• Whether there’s any outstanding money owed on the vehicle
• Whether the car has ever been in a serious accident

Common faults:

There are a couple of common faults to look out for when you decide to buy a used car. By being aware of these, you can make sure that you’re not taking out car finance for a second hand car that could cost you a lot in future repair expenses.

Take the time to look out for faults when you buy used cars, and if you’re not confident checking for them yourself, ask for expert help.

Any check for common faults should look out especially for the following:

• Gearbox issues
• Worn or burnt out clutches
• Worn brakes
• Coolant leaks due to cylinder head gasket issues

Vehicle ratings:

It’s worth checking the rating of the second hand vehicle that you are looking to buy. Many types and makes of car rate much better than others in terms of how they perform and maintain their value as second hand cars so it’s worth checking out the best ones to buy.

Trusted car makers such as Toyota, Honda, Volkswagen and Lexus all do well in vehicle ratings for those who decide to buy used cars and can help you to avoid a situation where your second hand car breaks quickly and is un-sellable.

Lending restrictions

Speak to us to discuss the best way to approach car finance for second hand cars. You need to be aware of any potential restrictions that lenders may have on car finance for second hand cars.

Usually restrictions relate to the age that the vehicle will be at the end of the loan term. It’s fairly unusual for car finance providers to agree to finance a car that is over 12 years old at the end of the loan term.

Trust your seller

This could be easier said than done but it’s particularly important with second hand cars as you’ll often be buying from a private seller rather than from a car dealership.

Only purchase a second hand car from a private seller if you are 100% certain that they are trustworthy and have provided you with the full documentation and checks that you have asked for.

If any of the information they have provided to you turns out to be incorrect (you can often find this out through the VIN validation checks), you should walk away from the sale immediately.

Know your price

Buying a second hand car is a great opportunity to get a good price on a high quality vehicle. Do your research so that you’re aware of the sort of prices you should expect to pay for your second hand vehicle.

Remember there’s probably room to negotiate with your seller as second hand car prices are usually pretty competitive. There are a lot of cars on the market and if you have a price in mind, you should be able to find a vehicle that suits you.

Getting pre-approval for car finance is a great way to know exactly how much you’ll have to spend when you buy used cars – setting you up to get the right second hand car for you.

Start the process

Once you’ve got everything in order (including all the documents and proof of identity that you need), you can start the process of getting your second hand car.

Contact Positive Lending Solutions on 1300 722 210 to start the process and enjoy a positive and efficient journey to getting your car finance solution today.