Don’t have the budget for a new car? You can buy a pre-owned car of the previous year at a much less price than a new one. Every year, when the new cars are launched, the previous models depreciate in value by about 27% from the mentioned price, and after 3 years, it is less than half that price.

Picking up a good car from those available in the used car market is not easy.

The cars mentioned here have gone through umpteen tests of reliability and have given consistent results over the years. They have control of electronic stability that keeps a track on the vehicle’s traction and also adjusts the power that is transferred to the wheels to prevent skidding and maintain control, which is a standard feature.

Check the car for electronic stability control, which is known to save lives and has been a feature of every car after 2012. Look at models that have this feature. Among used cars, there may be bad ones that have been neglected by the owner in maintenance and upkeep. Get the car entirely inspected by a mechanic; who holds a certificate.

Popular pre-owned cars for sale include Honda, Ford, Chevrolet, Nissan, Toyota, Acura, Hyundai, and Jeep. Check the website for body style, e.g., hybrid, sedan, SUV, hatchback, wagon, minivan, and pickup. You can also search by price, distance, mileage, as well as the year. You can add specific features like trim level, color, engine type, drive train, fuel type, powertrain, airbags, and air-conditioning.

On the VIN detail page, you will find vehicle description by the dealer, vehicle features, dealer reviews, insurance estimate, and vehicle history. Buying a used car is a smart decision and buying the car from a private party will give you a better price than a dealer.

Research your used car online as it will save you a lot of trouble. Select the make, click on the year, model, and various changes that have occurred over the years. Proper maintenance is needed for a used car if it does not have a warranty. Many people who buy used cars, overlook the cost of maintenance, which may exceed their budget.

Get your finances in order. Once you find your car you will want to buy it by cash or cashier’s cheque. Getting a pre-approved loan is a good idea. You will know your budget and the interest rate; you will have to pay. You may have to apply for a personal loan however, the interest will be high.

Private sellers will sell at a lesser price, major dealers sell certified pre-owned cars that are in excellent shape. Inspect and test-drive the vehicle to narrow down the choice. Conduct a thorough inspection by a mechanic. Take it for a spin; look out for unusual sounds and vibrations. Check the vehicle history for details on the car and the mishaps and accidents it has had.

Do not worry about bargaining and negotiate on the basis of the information you have. Pick a price and close the deal.