Once I achieved a safe distance between myself and the cars zipping by at 80+ MPH, I tried to start the car to no avail. One call to AAA and 20 minutes later, the car was towed to the local dealership for inspection. 24 hours later i'm being asked over the phone whether i consent to have a new engine installed, for the low price of $4,000. Seeing as how the car with a functional engine was worth $3,000 on a good day, I declined.
Being a recent college grad unable to find any trees with money growing from them, my chances of getting a new vehicle within a short amount of time appeared bleak.
My initial thought was to take out a loan. After a brief investigation of the astronomical payments and endless stipulations involved, I decided that I needed to wait until I was making the big bucks for a step like that.
I decided that my best bet would be to buy an inexpensive used car off of a website like Craigslist. I'd had plenty of successful experience on Craigslist in the past buying items ranging from iPhones to living room furniture, so logic told me that I should also be able to find an inexpensive car. I just needed something that could get me to and from work, that didn't smell like an ashtray or wet clothes, and that a female companion wouldn't be too embarrassed to ride in. Easy enough, right?
Right! After a week, I found that exact car. This two part article will break down the process of how to buy an inexpensive and reliable car of of Craigslist. Forget Autotrader and sleazy car dealers!
In part one of this two part post, I will cover how to define specific attributes that you must have in your used car, how to find the car that fits those attributes, and how to weed out the honest private sellers from the possibly not so honest, for-profit car dealers.
ARTICLE I
Step One: Define your Guidelines
1. ) The first and most important step when buying a car from Craigslist is to define what you are able to spend. I wanted to avoid a car payment at all costs, so I set my budget to $3,400; all the money I had saved for a rainy day. Well, actually it was all my parents would loan me (interest free!), so I decided to try and make it work. You will be surprised how much car a small sum can buy.
2.)Define what attributes you NEED in your car: In my case, I had to have a Japanese car that was good on gas, reliable, had a manual transmission, and was not aesthetically bankrupt.Obviously, the larger your budget, the more choices you will have, but remember...a new car is fun, but expensive car payments are not.
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| Pontiac Aztec : Aesthetically Bankrupt |
3.) If you don't need financing, recognize the value of buying from a private seller.
Buying from a private seller has the following benefits:
- Less markup = Overall Lower Price
- More bargaining room, especially on cars that have been paid off
- Less likely to encounter pressure or underhanded tactics from seller
- No sales tax
- HINT: Craigslist divides its Cars+Trucks section up into two parts: Listings By Dealer and Private Party Listings. When browsing the private seller section, ALWAYS ask the seller whether they are a dealer or not at the outset. Dealers FREQUENTLY post ads in the private seller section that appear to be an individual, when in fact they're just a dealer looking to draw in unsuspecting customers.
Step Two: Find cars that fit your specific guidelines
After defining your guidelines, now comes the fun part, surfing the web for used cars that fit your criteria.
During this phase, you narrow down the list of models to fit your needs and ballpark price range. I found that only a few cars fit my criteria well, a 1998-2001 Honda Civic, and a 1998-2002 Nissan Altima.
Asking price is merely a suggestion, Always search for cars a few hundred dollars above your price range and negotiate later.
Step Three: Preparing to Schedule Appointments
Once you've narrowed down a few makes and models that fit your criteria, it's time to start setting appointments to view some prospective cars in person.
It's best to set aside a full day during the weekend for your initial search, especially if you are looking to buy soon. Weekends are best as most people are off of work and you're able to see many cars in one day.
I've found that most postings include a phone number, so it is a good idea to set appointments for a Saturday or Sunday the night before.Setting appointments any further than a day in advance is generally not a good practice unless you live in a region with a low population density, or the car has a low demand (think Pontiac Aztec pictured above).
You CAN find an inexpensive, reliable used car on Craigslist, but it has been my experience that these do NOT last long, and you have to do some digging.
Step Four: The initial Phone Call
This is the single most important step in buying the right used car on Craigslist. Your first contact with the seller of your potential new car is very important. In order to assure you make the most of your time, there are certain questions that you should ask via telephone prior to viewing the car in person.
Have a set list of questions ready for each person you talk to. Whenever you ask a question, be sure to listen attentively and let the seller talk. When you hear their responses, what is your gut telling you? Does it say: "Wow, it sounds like this guy took tremendous care of this car", or "What kind of driver was he that the car needed a new engine, clutch, front & rear bumper, paint job, and airbags within the last year?"
Initial Questions:
- I like the (insert feature worth complimenting here) about the car, it looks really clean. How long have you had the car?
- Does it have a clear title?
- Do you have the title in hand?
- Why are you selling it?
- Can you tell me a little bit about some of the maintenance that's been done?
- Do you have the maintenance records?
- Has it ever been in any accidents?
- Can you think of any issues with the car, mechanically or cosmetically? Any leaks?
- So what kind of car are you going to get next? (This question may seem irrelevant, but I find it helps determine whether the seller really used the car or if they are simply selling it for a profit, i.e. a dealer)
During the first call, the seller should do most of the talking. Treat it like a conversation, rather than an interrogation, but always keep in mind the questions you need to get answered. There were several instances early on in the search when my lack of asking enough questions over the phone resulted in wasted 30 minute drives to view cars that either had unmentioned problems, or were in way worse shape than the pictures led to believe!
In Article II that follows, I will go over how to SAFELY handle the initial in person meeting, properly inspect the car, negotiate on a fair price, and how to safely complete the transaction.
PART 2 is now up. Please be sure to click the Google '+1' button or tweet if this article was helpful!
