Five Things To Consider When Buying Pre-owned Cars

Even on a budget, it is now possible to make that dream of owning a car come true

The year 2019 has just started and there is no better way to welcome the new year than setting and achieving your life goals, such as finally getting your own car. This dream can be daunting, but you may want to consider pre-owned cars and work with a reliable bank to make this dream come true.

Pre-owned cars are usually sold at a more affordable price compared to brand new units offered in the market. Purchasing one from a reputable bank also assures you of a pain-free selection and purchase process.

“Take the opportunity to explore and research on different models and seek advice from an expert who can guide you in choosing the right car that suits your lifestyle,” said Fitz Chee, Head of BPI Buenamano.

Below is a checklist of five things to consider when investing in pre-owned vehicles:

  1. Find a car that suits your needs.

When exposed with a variety of options, it’s easy to get carried away and buy the first car that catches your eye. Be meticulous in identifying which car will be most suitable for your needs. Who will be riding in the car? How many people? What exactly will you use it for?

  1. Conduct a thorough inspection.

After deciding on what fits you best, the next step is to inspect the exterior and interior of the vehicle. Use this time to spot dents, scratches, flat tires, broken mechanisms, and other damages or missing parts in the vehicle. Don’t hold back on asking all the pertinent questions and doing your research.

  1. Expect some normal wear and tear.

Take note that these car units are sold “as-is, where-is” and have been used by others before you. So expect some normal wear and tear in them. Keep this in mind as discounts or compensation will not be given to you for repairs. After inspecting the unit, you will have an idea of what needs to be done, if necessary. Save some cash for refurbishments, repairs, or any enhancements that you may desire for your car.

  1. Keep proper financing in mind.

After a satisfactory inspection of the unit’s physical condition, consider your budget. Banks who offer these pre-owned vehicles can assist you in making the right purchase. They can also help determine the best financing plans according to your budget or ability to pay. Buenamano, for example, accepts payments in cash and through financing. It offers reasonable prices and even discounts.

  1. Be on the lookout for the best deals.

While you can definitely save money with pre-owned vehicles, you can save some more by choosing banks that offer additional discounts and promos. Periodically, banks release a list of units for sale, and it may serve you well to scour these lists and work out a deal during a promo period.  

The Buena Mano auto sale is currently offering a 10% discount to all cash buyers nationwide. The discount also applies to those who will purchase vehicles financed with a loan from BPI Family Savings Bank. Interested buyers can take a look at all available models in the Buena Mano stockyards or check the website for the list of these pre-owned vehicles.

“While purchasing a pre-owned vehicle is a huge step for individuals and families, it’s important to think through the process and get trusted advice to make your dreams happen,” Chee added.

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