For most of us, it is best to be economical if we are looking for a vehicle – and many would agree that the first part of being practical and economical is to look for a used vehicle. With a used vehicle, you will undoubtedly save money – but you will also get a good deal if you know what you are looking for. Many used vehicles still have many years on them, and recent models are as good as new vehicles sometimes! But what else should you keep in mind if you’re determined to save money and get a lucrative deal on a used car? Here’s the best advice we can give you if you want a used vehicle model in 2023.

• Don’t forget to do research

Your priority is to do as much research as possible. This is no time to make a haphazard decision – if you are planning to finance your vehicle, it could make your life easier or make your life hell for the next few years. So it’s best to do the proper research, starting with checking reviews, analyzing ratings and road tests, reliability, safety, and how much the owners are satisfied with the vehicle.

You would want to test drive several vehicles and see if it goes with your priorities and is suitable – this is more important than technical details, such as understanding the vehicle’s features and configurations.

• Go for something you can rely on

It’s also best to go for something you can rely on – dealerships such as Young Auto suggest that if you can’t find a good used vehicle deal, you may want to consider something older but much more dependable. But to be sure, take the used vehicle to a reputable, independent mechanic so they can inspect the vehicle and check it for any abnormalities. If the dealer or owner doesn’t agree with your request to have the vehicle inspected, you’re better off elsewhere. You can also check different websites for the reliability rating of the vehicle – this will ensure that you buy something dependable and won’t present you with issues later on.

• Borrow enough – but not too much

Chances are, you will pay for your vehicle by financing it – but this is where many vehicle owners go wrong. The key is to borrow enough – but not too much. Gather enough down payment, so you don’t have to contend with too high interest rates. Let’s say you have to get a loan of $15k for a used vehicle, maybe an SUV or a high-end model. But keep in mind that the vehicle will go through depreciation, and it will most likely have a value of $10k or less in one or two years. If you’re unfortunate enough to total the car or have it stolen, you will still have to settle the payments – but will have no vehicle to speak of. Remember that your vehicle will always depreciate – even when times are normal. So it’s in your best interest to keep the interest rates down and not borrow too much in the long term.

• Learn how to compromise

It’s also best to compromise – but only to a certain degree. For example, if you decide to buy an older model, it may not have some of the features you originally wanted. So you must determine which features are must-haves, but in the same vein, be flexible.