Buying a used car can be a great way to get a reliable vehicle at a lower price compared to a brand-new car. However, the process of purchasing a used car can also be daunting, especially if you're not sure what to look for. In this guide, we'll share some valuable tips and tricks to help you navigate the world of used car buying and make a smart purchase.
Research, Research, Research
Before you start shopping for a used car, it's important to do your homework. Research different makes and models to determine which one best fits your needs and budget. Look up reviews, reliability ratings, and common issues for the cars you're considering. This will help you make an informed decision and avoid any unpleasant surprises.
Inspect the Vehicle Thoroughly
Once you've found a used car that looks promising, it's time to inspect it thoroughly. Start by checking the exterior for any signs of damage or previous repairs. Look for things like dents, scratches, and misaligned panels. Don't forget to inspect the tires, lights, and other exterior components as well.
Next, take a close look at the interior. Check for any signs of wear and tear, such as ripped upholstery or broken buttons. Test all the features and accessories to ensure they're working properly.
Get a Mechanic’s Inspection
Even if the car looks and feels great, it's always a good idea to have a trusted mechanic inspect it before making a purchase. They'll be able to identify any potential issues or hidden problems that you might have missed. This small investment can save you from costly repairs down the line.
Negotiate the Price
When it comes to buying a used car, negotiations are often expected. Start by researching the fair market value for the make, model, and year of the car you're interested in. This will give you a good idea of what a reasonable price range should be. Don't be afraid to negotiate – remember, the seller wants to sell the car, and you want to get the best deal possible.
Don’t Forget the Hidden Costs
In addition to the purchase price, there are other costs to consider when buying a used car, such as registration fees, insurance, and any necessary repairs or maintenance. Make sure to factor in these expenses as you're determining your budget.
Financing Options with M Lhuillier
If you're in need of financing for your used car purchase, M Lhuillier offers a pre-owned car financing solution to help make your dream of owning a reliable vehicle a reality.
M Lhuillier’s pre-owned car financing services provide a similar experience to purchasing a brand-new car from a dealership. Customers can simply look at their desired used car and contact M Lhuillier for financing.
Here's how it works:
To qualify for M Lhuillier's Quick Car Loan Pre-owned Car Financing, you must meet the following requirements:
Be employed (locally or overseas), self-employed, or a pensioner with proof of income/pension payments.
The car must be a 2013 model year or newer.
Chattel mortgage and comprehensive insurance are required.
Maximum loan term is 3-4 years.
Once you have submitted all the required documents, you can select a used car from a legitimate dealer and pay the 30% downpayment. Then, you can bring the car's Official Receipt (OR) and Certificate of Registration (CR) to any M Lhuillier branch to get financing for the remaining 70% of the cost.
By following these tips, and exploring the flexible financing options available at M Lhuillier, you'll be well on your way to finding the perfect used car for your needs and budget. Remember to take your time, do your research, and don't be afraid to ask questions. With a little effort, you can drive away in a reliable and affordable used car.
M Lhuillier, the Philippines’ largest and most respected non-bank financial institution, continues to uphold its promise of being the Tulay ng PaMLyang Pilipino, with more than 3,000 serviceable locations nationwide. It continuously seeks better and innovative ways to serve its community by providing fast, easy, and reliable financial services such as Kwarta Padala, Quick Cash Loan, Car Loans, Home Loan, Bills Payment, Insurance Plan, Money Exchange, Jewelry, ML Wallet, ML Express, ML Moves, and Telco and online TV Loading.
Follow M Lhuillier Financial Services, Inc. on Facebook, or visit mlhuillier.com for more information. For inquiries, contact Customer Care through its mobile number +63-947-999-0337, +63-947-999-2721, +63-917-871-2973, +63-947-999-0522, +63-947-999-2472 or email customercare@mlhuillier.com.