Car Buying Tips: Why Does It Make Sense to Buy a Discontinued Car Model?

Often while planning to purchase a car, the right model and the car manufacturing brand become the key deciding factor. Many a times, the research proves to be outdated as some car models become discontinue.

When a car manufacturer stops producing a model because of a number of reasons, it is called a discontinued car model. However, the benefits of buying a discontinued car model outweigh the risks. Buying a car which is no longer in showrooms can mean greater savings. If you are planning to purchase a car, the following points will help you to comprehend why it makes sense to buy a discontinued car model.

1) Discounted Purchase Price

It will have a significantly lower price than a brand new car. One of the benefits of purchasing it is that you get a new car for the price of a used car. As a buyer, you are in a good position to get a favorable deal for a discontinued car model. The dealer needs to move inventory to create space for new cars in demand. Therefore, it becomes easy to negotiate a price that suits your wallet.

2) Shared Spare Parts

Many car buyers hesitate to purchase it due to the potential risk of unavailability of spare parts in the future. You can minimize the risk as many car manufacturers continue producing car parts long after they stop manufacturing a car. Additionally, you can transfer many spare parts of current models to the discontinued model. While purchasing from the manufacturer can become expensive, you can find shared spare parts easily. Thus, if the car requires repairing in the future, you can mend it without any tension.

3) Wide Choice of Selection

It comes at a relatively cheaper price than a new car. The value for money received from buying a discontinued model significantly increases due to cheap pricing. The money spent on purchasing a new car can mean compromising on a few features. However, purchasing it can aid you to step up your choice of selecting a better car. Therefore, you can avail a pool of upgraded features for a lower price.

4) Warranty Period

When you purchase a recently discontinued model, chances are that you eligible for warranty. During the warranty period, the servicing and maintenance of car parts are the responsibility of the original car manufacturer. Many manufacturers produce parts in high volumes to cover the entire warranty period. Thus, you will be able to repair it easily, until it falls under the warranty period. And, a mechanic or an expert can attend to any defect after the warranty period is over.

Purchasing it may bring some risks with it. However, there are many benefits of buying such a car. It can be a lucrative deal for a car buyer looking to make an affordable purchase. So, next time when you want to buy a car, consider a discontinued car model.

6 Tips to Buy a Used Car

Have you been thinking of buying a card car? If so, you are not alone. Every year, around 40 million second-hand cars are sold to new buyers. Since there are tons of choices, you will find it hard to choose the best car. Given below is a list of a few important tips to make this challenge a bit easier. Read on.

Set a budget

Typically, if you take out a loan for the car, make sure the payment of the car is not over 20% of your take-home salary. But if you are on a tight budget, try and stick to your budget. Used cars require regular maintenance and replacements. Aside from this, there are some costs that buyers have to take into account, such as insurance and fuel.

Build a List of Used Cars

If you want to save money buying a used car, make sure you take into account multiple brands. As a general rule, it’s a good idea to make a list of 3 to 5 cards that will meet your needs.

If you are planning to get a car that is not older than 5 years, we suggest that you get a certified pre-owned one. These vehicles come with long-term warranties.

Check Prices

Based on where you are going to buy the car, the prices will vary. You can also find them at new-car dealerships, used-car retailers and independent car lots, just to name a few. The cost of the CPO cars is the highest. If you want to have a good idea of what people are paying for the brands you are interested in, we suggest that you look at the average prices of the cars that people are willing to pay in your area.

Read the History Report

If you are buying the vehicle from a friend or family member, you don’t need to worry about the vehicle history report. On the other hand, if you are buying it from someone else, you must read the history report. The report will let you know vital information regarding the vehicle, such as the condition of the odometer. If you want to get this information, you can use the vehicle Identification Number (VIN).

Contact the Seller

Don’t just run out to take a look at the car you have found. What you need to do is make a call to the seller. Actually, you need to establish a good relationship with the seller, which will help you verify the information regarding the vehicle.

If things go as planned, you may want to approach the seller to test drive the vehicle. If possible, drive the vehicle during the day. This way it will be easier for you to check the condition of the car.

Negotiate a Deal

It’s a good idea to negotiate a good deal. Before you negotiate with the seller, make sure you know the maximum amount that you are willing to pay for the car. The opening offer has to be lower than the price you are willing to pay.

So, you may want to follow these tips when buying a used car.