---
title: Tips to Navigate the Used Car Market
description: When buying a used car, first set a budget including all costs. Identify your needs and preferences, secure funding, then start shopping. Obtain a vehicle history report, inspect the car, and take a t
---

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# [Tips to Navigate the Used Car Market](https://www.oregonianscu.com/financial-learning/blog/2024/01/31/tips-to-navigate-the-used-car-market)

 Written by [Oregonians Credit Union](https://www.oregonianscu.com/financial-learning/blog/author/oregonianscreditunion) | Jan 31, 2024 4:00:00 PM

Purchasing a used car can be a daunting task, but we can help! Here’s what you need to know before buying a used car. 

**Set a budget**

Review your expenses and income to determine how much you can afford to pay toward your car each month. When researching vehicles that fit within your budget, be sure to include costs like insurance, taxes, registration and ongoing maintenance along with the cost of the vehicle. 

**Determine your needs and preferences**

Next, identify your personal needs and preferences in a used car. Consider the vehicle’s size, engine type, fuel efficiency, features, mileage and age. 

**Secure funding**

It’s best to get funding lined up for your used car before you start your search. Reach out to private lenders or financial institutions and start comparing their loan options and interest rates. When you’ve chosen your lender, consider getting a preapproval for your loan. This will make the actual car-shopping quicker and smoother.

**Shop for a car**

You’re ready to start car-shopping! Be sure to stick to your budget when looking for a car, and to keep your feature preferences in mind as well.

Next, visit Carfax or AutoCheck, where you can obtain a vehicle history report of the cars in question using the Vehicle Identification Number (VIN). This will provide you with information on the car’s title status, accident history, any recurring maintenance issues and more. 

**Inspect the car**

If you’re familiar with car mechanics, you can inspect the car yourself. Otherwise, consider hiring a professional mechanic to perform the inspection. 

If the inspection shows some issues, you may want to walk away. Alternatively, you can use the findings as leverage to negotiate a lower price.

**Take a test drive**

This is your opportunity to get a feel for the car’s performance and handling. Pay attention to the car’s acceleration, braking, steering and handling, noise levels and visibility.

**Negotiate the price**

Do some research on the market value of the car you’re interested in, and consider any imperfections that were identified during the inspection. Then, make an informed offer and be prepared to negotiate for a lower price.

**Review the paperwork and obtain insurance**

Before finalizing the deal, carefully review the title and ownership papers to verify everything is in order. You’ll need to sign a lot of documents at this time, and ensure that your vehicle is properly insured. 

**Finalize the sale**

Use the funds secured through your auto loan to pay for the purchase and the car is yours! 

If you’re in the market for a used car, consider an auto loan from Oregonians Credit Union. Call, click or stop by to learn more.

[View full post](https://www.oregonianscu.com/financial-learning/blog/2024/01/31/tips-to-navigate-the-used-car-market)

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