With new car prices still soaring, buying a used car can be a great choice when you want a high-quality vehicle without the new car price tag.
Even though it's a good option, there's still a lot to keep in mind when buying a used vehicle. Here, we break down everything you need to know about buying a used car.
When buying a used car, take a close look
When buying a used car, it's important to carefully inspect it for any current or inevitable problems.
Examine the exterior and interior of the car
Check for scratches, dents, and rust on the exterior of the car. Make sure the body panels are lined up evenly because uneven panels might mean the vehicle was poorly repaired after an accident. We also recommend checking for wear and tear in the seats, carpet, and floor mats.
Check for leaks
We recommend looking at the vehicle's underbody and the ground under the vehicle for any evidence of leaks. Any leaks could indicate costly engine or transmission problems in the future.
Take it for a test drive
It's essential to experience the vehicle fully before you commit to buying it. Drive down a rough road and listen for any rattles or squeaks. Pay attention to any bad odors that could indicate leaks or damage.
Can you lease a used car?
In short, yes, you can. Used car leasing is a great option, especially when the car is certified pre-owned (CPO). A CPO vehicle typically has a manufacturer's warranty, which other used vehicles won't have. Leasing a used vehicle can save you significant money because you will likely have a lower monthly payment than a new car lease or purchase.
How to buy a used car in Ontario
When buying a used car in Ontario, we recommend checking your credit score and setting a budget before going car shopping. This will help you get the right vehicle for your financial situation.
Before you buy, use the Kelley Blue Book to research the cars you're interested in. This valuable reference source will tell you how much the car is worth and list any recalls or problems with the vehicle that you're considering.
How much does a used car cost?
The national average price for a used car in Canada in 2022 is $34,679. However, the actual price you'd pay depends on a number of factors that are unique to each vehicle. These considerations include mileage, exterior and interior condition, year, make and model, and accident history.
How many km's is good for a used car?
In general, a used car with fewer kilometers will last longer, and require fewer repairs. Most mechanics will say that 20,000 kilometers per year is an accurate average for cars that aren't overdriven.
How much mileage is too much for a used car?
The average mileage per year is around 24,000 kilometers. To figure out if the car's mileage is in an acceptable range, divide the odometer reading by its age to get the average mileage. If it has been driven more than 24,000 km per year, you might want to look for a different used car.
We're here to help you buy or lease your next used car
There is a lot to consider when buying or leasing a used car. Our experts are here to answer any questions or help you find the perfect car for you. Contact us today.
