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Trading Chanakya Group

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Owen Phillips
Owen Phillips

Carfax Buy Used Car

At CARFAX, we collect events from the lives of millions of used cars from 20 European countries, as well as the USA and Canada. We can then create a vehicle history for every car in our database and make it available to you.The information helps you to check sales data, avoid expensive follow-up costs and negotiate a fair purchase price.

carfax buy used car

Purchasing a used vehicle can at first seem like an intimidating experience, but if you know the right questions to ask and have the right information at your disposal, you can navigate the process easily and with confidence.

CARFAX Vehicle History products and services are based only on information supplied to CARFAX. CARFAX does not have the complete history of every vehicle. Use the CARFAX search as one important tool, along with a vehicle inspection and test drive, to make a better decision about your next used car.

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When you're car shopping on a budget, buying used is one of the smartest moves you can make. Because cars lose most of their value in the first few years, buying used allows you to drive a vehicle you probably couldn't afford brand new. In fact, cars lose as much as 20% of their value in their first year, and after three years only retain about 55% of their original cost, giving used-car buyers the opportunity to save some serious cash.

Recent used models -- those that are less than five years old -- can be a real value because you get a nearly-new car still in fine working order for a fraction of the new-car price. And you'll pay less for collision insurance and taxes too.

The trade-off, of course, is that you don't know if a pre-owned car has any hidden problems that will come back to bite you in the wallet down the road. Finding a used car isn't tough -- they're in plentiful supply these days at dealers and from private parties. You can search for cars from both at (opens in new tab) and (opens in new tab), and find a wealth of information; from how many miles the car has on it to how it's equipped. Still, buying used often feels like a gamble. How do you know you're getting a good deal? How do you avoid ending up with a lemon?

4. Consider certified cars. Sales of certified used cars have been on the rise for the last several years and they offer many of the perks of a new car. Typically off-lease or corporate fleet vehicles, they're not only "young in age and have low mileage, but have been meticulously maintained," says Basso.

5. Know what it's worth. You also need all the facts about the car's value. In addition to the standard pricing guide of Kelley Blue Book (opens in new tab), which notes that their retail values are the starting point for negotiations between a consumer and dealer, check used car values at NADA Guides (opens in new tab) and (opens in new tab). The True Market Values given on are based on actual transaction prices and by using its Used Car Appraiser, you can input the specifics of your potential buy and get a more accurate price.

Figuring a fair price for a used car is just one piece of the pricing pie. Be prepared to haggle with a private party or a dealer, and know that dealerships tend to put their best salespeople in the used car department. (Learn how to negotiate your way to a good deal.) If you want to skip the pressure, check out CarMax (opens in new tab), which offers "no-haggle prices" based on Kelley Blue Book values. (Learn more about no-hassle car buying.) 041b061a72


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