Santa Monica is a costly city, with its cost of living being 116 percent higher than the US average. In addition, the housing expenses of the city are 390 percent higher than the country’s average. Since the average car ownership is two cars per household, people are changing their consumption patterns and looking for used cars. But buying a used car is not an easy task. So, before looking for used cars for sale in Santa Monica, you must learn a few things.
Following are the details.
- Determine your budget
You can either buy your car by paying cash or taking out a loan. In the case of cash payment, your budgeting is pretty straightforward. However, be careful not to spend all the savings and keep a certain amount aside for insurance, registration, and future repairs.
A car loan is another option for your purchase if you want to protect your savings. So, start by getting preapproved for your car loan, which could simplify your buying journey.
You should ideally pay at least 10 percent of the car’s amount to decrease the loan amount. Also, try to make loan repayment within three years. Lastly, your monthly auto expenses should not exceed 20 percent of your take-home pay.
- Look at the features
With so many features available in cars, it must be hard to narrow down your choices to a few. So, take some time to think about how you plan on using the vehicle.
For your car off-roading adventures to Arroyo Sequit or Paramount Ranch, you may need a sturdy car with 4WD or AWD. If safety is your topmost priority, look for advanced safety features in the cars.
- Research reliability and ownership costs
When looking for used cars for sale in Santa Monica, you may find some car models have more wear and tear than others. So, make sure you choose a model that is known for its reliability. You can also find ratings of used cars and maintenance reports on various websites, which could help you with your choice.
You should also consider ownership costs while buying second-hand cars. Some models may be cheap upfront, but the costs eventually add up due to repairs, maintenance, insurance, and depreciation. So, you can go to automotive websites and get an estimate of these expenses to have a smooth buying experience.
- Get the vehicle history report
You can run a vehicle history report using the VIN on your selected car models. It can help you decide whether you should seriously consider purchasing the vehicle.
- The report will help you learn if the car has previously been in a serious accident and declared a total loss by an insurance company. So, when you see a ‘salvage title, you can become alert about the purchase. It is best not to invest in a car with a salvage title as it affects its resale value and may also have several hidden problems.
- You can also learn if shady sellers tried to tamper with the odometer to increase the selling price.
- The number of times the vehicle has changed hands.
- Whether timely maintenance was done and from where it was performed.
When you have taken care of these steps and are heading towards the final paperwork, you might get offers for numerous add-on products. They might range from extended warranties to paint or even upholstery sealants. But before you fall for a slick sales pitch, you should research as, in many cases, you might get similar products at better prices outside a dealership.
