Video:Tips for Buying Cheap, Quality Carswith David Griffith
Buying a quality car doesn't necessarily mean you have to spend a fortune. Here is a video with a set of tips for buying quality cars for cheap.See Transcript
Transcript:Tips for Buying Cheap, Quality Cars
Hi, my name is David Griffith and we're here at Jack Kain Ford in Lexington, Kentucky for About.com, and today I'm going to show you how to shop for cheap and quality cars.
Choose Cheap, Quality Car
The first thing you want to do when searching for a cheap or quality car is to go online and research the dealership first. A quality dealer is one of the most important things in purchasing any vehicle, whether it be new or pre-owned. Then, you want to choose three or five cars that work for your budget. Now keep in mind, in a pre-owned car, pricing can become an issue in that the dealership will not have a lot of mark-up. With the cheaper cars, there is less negotiation available.
Check Warranties on the Car
Call the dealership, make an appointment with the salesperson, and find some cars that work for you. You will also want to inquire about any existing warranties on the vehicle or the possibility of placing an extended service contract on the vehicle, after you do your research on extended service contracts. You want to be very careful about that as well. You want to purchase a manufacturer's extended service plan if at all possible. But you always want to inquire, does the vehicle have a warranty, is there a 30-day warranty, is there a power-trained warranty. Get it in writing what is exactly covered on that vehicle as well.
Understand Low Price Margin on Cheaper Cars
You also want to inquire if the dealership has a return policy, if that vehicle doesn't work for you, are you able to return it in a set time and mileage. A reputable dealer will have a return policy. Be very careful about those dealers that sell only as-is. On cheaper cars, that is the case a lot of the time. When you have chosen the vehicle and decided it is the one for you, then you are going to want to negotiate the price, keeping in mind that the price margin, the mark-up margin on a cheaper car is a lot smaller than it is on a more expensive car. Most of these dealers will mark the car at a price that does not leave a whole lot of room for negotiation.
And that is how you shop for cheap and quality cars. Thanks for watching. To learn more, please visit us at About.com.