Buying used cars not the gamble it used to be :: WRAL.com

In this economy, many people are looking for ways to save, especially on big-ticket items such as cars. One way to do that is to buy used instead of new, which is not the gamble it used to be.

The main reason it's not such a gamble is that there are so many resources available to check out a car, from safety testing to reliability ratings to vehicle history reports.

But prospective buyers have to take advantage of those resources. If they do, Consumer Reports says buying a used car can be one of the best ways to save a big chunk of money these days.

While some people just want a brand new car no matter what, it's no secret its value plummets the moment it leaves the showroom.

That's why car buyer Israel Camacho went used.

"It'll last for another 10 years, almost as long as a brand new car and save $17,000,” Camacho said.

Buying a late-model, low-mileage used car can be a smart move, according to Consumer Reports’ Jon Linkov.

“It can cost as much as 45 percent less than the same car was when new, yet still have most or all the features you're looking for and still have years of life left in it,” he said.

One really important part of buying used is doing research. As buyers narrow down their choices, they should be sure to factor in a vehicle's reliability. Then, they should look up the going prices and hone in on actual cars on sites like Auto Trader, eBay, and Yahoo autos.

"When you find the right car, now is the time to be extra skeptical. Getting a vehicle history report, like a Carfax, is OK, but don't stop there,” Linkov said.

Buyers should make sure they have a trusted mechanic inspect the car, since the vehicle history report doesn't always pick up everything, such as accidents. They should also know that they’ll probably need to leave a deposit with the seller and expect to pay around $100 for the inspection.

"If the car passes mechanical muster, you're ready to bargain. Make an offer based on the prices that you've researched. Be prepared to dicker a little, but also be prepared to walk away,” Linkov said.

Solid research and diligence can pay off when finding a great car at a great price.

Consumer Reports says it hears that getting a certified pre-owned car can be a big plus, but the extra cost may not be worth it if you've done a good job picking a reliable car.

See a list of Consumer Reports’ "Best of the Best" used cars in multiple categories, as well as a look at models to avoid.

Source: http://www.wral.com