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06 Mar

FAQs Regarding Buying and Selling Cars

FAQs Regarding Buying and Selling Cars FAQs Regarding Buying and Selling Cars

For the majority of consumers, a car stands only second to a home in terms of major purchases.  This makes the car buying and the car selling process one that draws a great deal of attention and even emotion.  In this article, we will address some of the most frequently asked questions consumers have regarding selling cars.

Q: In terms of a car’s condition, what aspect of its mechanical performance should I be most concerned with?

A: If a car has serious engine or transmission issues you should strongly consider looking elsewhere.  Why?  Repairing or replacing an engine or transmission can be so costly that often cars are “scrapped” as a result of a failure.  This can be particularly true for engines that fail.  Rebuilding or replacing an engine can be cost prohibitive, particularly in older cars.

Q: What is the single best way to save money when I buy a new or used car?

A:  This is one of the most frequent and popular questions.  Saving money on a car has many components, but at the top of the list is finding a local car dealership that has a good reputation and that you trust.  If you can achieve that goal, you have taken a major step towards saving money.

Q: Is it true that I can buy a car with no money down?  I have seen advertisements but is it actually true?

A:  Many are surprised to learn that it is possible to buy a car with no money down.  In fact, this is a frequent occurrence at car dealerships.  Even those with credit history issues are able to buy cars with no money down.  The “trick” is to go into your local car dealership and ask what your options are!

Q: What time of year is the best time to sell a used car?

A:  If you have to sell a car, then you have to sell it.  Now with that stated, if you can wait until warmer weather, you will be likely to enjoy better results.  This is particularly true if you are selling to private parties instead of a car dealership.  Just as many people refrain from home shopping during cold weather, the same holds true for car shopping.  Of course, if you are selling your car to a car dealership, this point isn’t much of a concern.

On the other hand, in the winter, people can get fed up with public transportation and might need to buy a car right away.  So if you put your car up for sale in the winter, you may actually have very good luck!

In general, some of the best times of year to sell your car are as follows:

-Near the holidays

Oftentimes people are seeking gifts in mid-November.

-Near graduation time

During the Spring months before graduation from high school and college, parents will often be looking for gifts for their graduating children.  In this instance, a used car may be the perfect present.

-Before the first snow

Are you trying to sell a car that has snow tires and performs extremely well in snowy conditions?  If so, you may have success selling it right before winter’s first snow.

When it comes to selling your car, it doesn’t hurt to use a little strategy.  For example, if you have a hybrid car, you may find lots of buyers if the price of gas happens to escalate! So consider what your car has going for it, and plan accordingly.