Cars can be expensive, but having a low income doesn't mean you can't buy a car. It just means you have to buy a car within your means. For most people, that means buying an older used car straight out, without financing or making payments to anyone. The car may not be as flashy as some others but it will do fine as basic transportation.
The Search
The first step is preparing yourself. Review your finances and savings carefully to determine what you can afford to buy. Remember you also have to insure the car, put gas in it and pay for any unexpected repairs. Spend a few months saving up so you have enough to pay for the type of vehicle you'd like and several months of insurance payments. Then start searching. Browse the newspaper sales ads and your local section of Craigslist. Ask friends, family and acquaintances if they know of any cars for sale with your budget.
Narrowing It Down
As you isolate cars you want to buy, contact the seller of each car you are considering buying to set up an appointment to see it. Ask the seller any questions you may have about the car, such as the gas mileage, any accidents its been in or if the seller is offering any warranties on it. Verify the seller has the title of the vehicle in his possession. Test drive the car with the seller to get a feel of how it drives. If the seller of the car does not offer a warranty, he's selling you the vehicle "as is." This mean he makes no guarantees on how well the car runs. Michigan does not have a "cooling-off" law for car sales that would allow you to back out of the contract with a full refund.
Buying the Car
Ask a mechanic to look over the vehicle to check for any possible mechanical problems before you buy the car. If you can't afford a mechanic, try contacting an automotive trade school. Often those schools offer low cost mechanic services by students with instructors supervising.
Give the seller the money required to buy it once you are satisfied it's in good working condition. Pay the seller buy cashier's check, personal check or money order so you have a record of the payment. Indicate the year, make and model of the car you're buying on the memo line. Do not give the seller any money unless he can give you the title of the vehicle at the same time the money transfers hands. If the seller is offering any warranty on the car, get it in writing when the money changes hands.
After You've Bought It
Buy car no-fault Michigan car insurance on your new car before you drive it. If you haven't registered and insured the vehicle, you can have it towed from the seller to another location until you have a chance to do so. Do not drive the vehicle before you've registered and insured it. Otherwise, take your proof of insurance and the title the seller gave you to a Michigan Secretary of State location. Change the title over to your name and register the car with the state, paying any necessary fees for the vehicle. Go back to the seller to put the license plates on your car and drive the car away.
0 comments:
Post a Comment