Buying a used car is a smart financial decision! You just saved money which you can invest in other projects. According to statistics, an average of 8 million used cars are sold every year in developed countries such as the United States and the UK. Globally, over 50 million used cars change hands each year. Of course, not all of these sales are captured on records. You should be proud of your investment. The popularity of used car purchases shows that it is a wise investment.
Before we go over what you should do after purchasing a used car, let’s first discuss what you just did. We believe that you love to make a smart financial decision. At this point, we will conclude that you inspected and test drove the car before you signed the contract. If you didn’t, it may not be too late yet. Do this as soon as possible and report any error to the dealer or the seller. With any luck, and depending on your agreement, you can get a full refund, a partial refund, or an agreement for the dealer to fix the damages.
Nevertheless, we hope that your car is as good as new!
If you are taking a loan to pay for the car, you should know that as a rule of thumb, your car payment shouldn’t be more than 20% of your take-home pay. Once again, we are sure that you’ve got all these covered. Now, let’s get to the reason why you are here.
Below, we’ve made a list of what you need to do after purchasing a used car. Use the checklist below to ensure that you are not making any mistakes.
Top 5 Things To Do Immediately After Buying a Used Car
- Register the Car and Transfer the Title
After purchasing a used car, you need to register it as soon as possible especially if you purchased your car from a private seller. There have been horror stories of sellers reporting their cars as stolen after selling the car.
Take your car to the “Department of Motor Vehicles” or the appropriate car registration authority in your state to get it registered immediately. Note that you need a proof of purchase, receipts, identification, proof of address, as well as proof of insurance to register a car. If you are not sure what the requirements are in your state, you can check it out online.
- Read the Owner’s Manual
Reading the car manual can save you a whole lot of problems even if you consider yourself an experienced driver. Most people never read the manual. The fact is that the car manual is full of insightful information that can help you fix some problems.
Of course, you don’t need to read the entire manual. Read the manual to learn about the maintenance recommendations, oil requirements, tire pressure, and engine maintenance procedure. It will also help you learn when to service your vehicle. This information can help you to keep your car in good shape so you can still sell it for good money in the future.
- Take Your Car to an Experienced Mechanic
There are two reasons why you should take your new used car to an experienced mechanic. The first reason is for an inspection and then the second is to repair any outstanding problem. Most people usually take a mechanic to do an inspection before purchasing a car. However, this pre-purchase inspection is usually not thorough.
After you purchase the car, ask the mechanic to check all the filters, all the fluids, the brakes, as well as the tires. Additionally, check for any existing problems that you didn’t check before completing the purchase. Repair them immediately. Base on your agreement with the dealer, you may be able to recover part of the money you spend on repairs.
- Get Car Insurance Quote
Now you own a car, it is important that you get car insurance ASAP. In most states, you will not be allowed to register your car if you don’t have car insurance. You are not allowed to drive a car that is not insured.
Shop around a little bit for a car insurance quote. Today, there are so many companies offering car insurance services. They do not provide the same value. You need a car insurance company that provides a comprehensive car insurance policy at a competitive rate. You should also consider a company that provides optional coverage based on how much protection you want and how that coverage fits into your budget.
When it comes to car insurance, some factors you should consider include:
- How much coverage you want
- Your deductible
- The reputation of the insurance company
- Customer service
It is also important to note that there are factors that can influence how much premium you pay. Some of these factors include age, geographical location, gender, marital status, claims history, years of driving experience, and even your credit history.
Once you’ve got the right car insurance quote, it is time to hit the road and show off your car. At this point, we recommend test-driving at the less-traffic road to acclimate yourself with your car’s features. Once you feel confident enough, you can drive on more busy roads. Remember to always take your car for maintenance occasionally. The trick is to keep it in good condition so you can resell it anytime you want in the future.
Mariam Kathet is a blogger and infopreneur who writes various topics including car insurance quote.