With Americans buying an average 41 million used vehicles a year, and with increases in this market single-handedly sending US inflation soaring since the pandemic stalled new vehicle manufacturing, we’re no strangers to buying our cars second hand. In fact, for individuals looking to avoid escalating average car prices of around $32,903, even steadily increasing used car costs are one of the most financially viable ways to get on the road. Mrs. Money and I have never bought a new car and have always bought depreciated several years old cars.

However, just because used cars offer a financially viable road-based in-point doesn’t mean that all used purchases make monetary sense. With used car dealers skilled in making even an unappealing prospect look like the best thing you didn’t know you were missing, it can be especially difficult to tell the difference between a wise investment and a total waste of money. Hence why we’re going to consider three of the best ways to determine, once and for all, whether a second-hand vehicle is worth buying.

# 1 – Get Access to a complete vehicle history

Hidden used car histories often include a few skeletons that can prevent you from truly understanding the maintenance history/road safety of the vehicle in question. These secrets are likely to come back and haunt you if you’re ever involved in an accident down the line and the best car accident attorney would then have a difficult job to defend you, meaning that settlements could quickly outstrip any savings you might have initially made. Hence, the first and most essential viability check is to request a complete history that not only outlines maintenance, repairs, etc., but that’s also signed, sealed, and delivered, by professionals who can verify those claims. 

# 2 – Opt to take it for a spin

Most of us expect test drives as standard when buying new, but the increased affordability of second-hand options makes us somewhat shyer when it comes to giving them a spin. This is the main reason why lemon vehicles too often slip through this market, and it’s something that you need to overcome by checking this vehicle’s viability on the road for yourself to better understand whether that car is a long term investment, and also how much it’s feasibly worth to you.

# 3 – Transparent dealer processes

If a dealer tries to tell you that a used car is as good as new then they’re probably lying. Obviously, no dealer is about to go into gritty details, but their willingness to discuss things like repairs, general history, etc. all helps you to better understand this purchase for what it is. And, that’s guaranteed to make for a far more viable, informed investment than if you were promised the world, and instead ended up with a studio apartment (or at least, the car-based equivalent…).

Buying second-hand makes financial sense, but it can also be more costly than you’d expect. Make sure, then, that you look out for these financial eligibility criteria to ensure wise purchases at a cost that you’re not going to regret paying for them. 

Finally, I found this great YouTube video and even learned a few tips myself!

Disclosure: Some links will earn me a commission.