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Buying a car is a huge investment. Whether a brand new or a second hand car, you still have to shell out a tidy sum to hopefully get the car that meets your specifications.

Second hand cars can be purchased by going to the local dealer, looking at the classified ads or checking out the various websites that allow a person to search and buy a car online.

There are two reasons why used cars are cheaper. The first is that cars once purchased and driven off a lot immediately depreciate. Annually, these cars lose about 20% in value making it easy for you to buy a second hand car almost at half the original price.

Another reason is that it is hard to buy a car and pay the full payment up front. By acquiring the services of a financial institution such as a bank, a person can pay off the loan through monthly installments. Unfortunately, some people have failed to honor that commitment which leaves the financial institutions no choice but to have the car repossessed.

For the bank to avoid storing the many cars that have been repossessed and make up for the lost money, these cars are auctioned off immediately which make it easy for some lucky people to buy fairly new cars and prevent being taken advantage of by car dealers.

Before buying a car, it is best to think about the kind of car you are willing to spend for and the options that come with it. By doing some research and checking out various dealers, you will be able to pick the right car and get the best deal.

You should also check the history of the car. This can be checked by going online and typing in the vehicle identification number or VIN. This can help verify the accidents the car has been in, if the car was reported stolen and the previous owner of the vehicle. It can also check if the mileage was rolled back.

Most cars have a maintenance record. The buyer must ask the dealer to see it and if it is not available, then you should contact the dealership or repair shop where most of the work was done.

The car should also be test driven on the road at various conditions and checked by a trusted and reputable mechanic just to be safe that the car you will buy is road worthy.

Most important of all, you should ask about the warranty. If there are some things not covered by it, it is best to get a service contract to be safe.