If you’re looking for a dependable secondhand car with fuel efficiency and lower price tag, chances are your research will bring you to a Kia-brand model. Voted for being a global green brand and top 10 least expensive midsize sedans, the Kia brand definitely caters to a broader spectrum of clientele. But looking for a used Kia car in Singapore can be tricky. You want something cheap but don’t want anything cheap under the hood. Here are tips on how to spot good deals and avoid the bad ones.
It’s understandable to want your used car to be the complete package, but such demand requires a bigger budget as well. If you’re shopping on a budget, however, it’s important to maintain practicality and stick to basics. What do you really want to get from your vehicle? Do you need unmatched off-road performance? A big seating capacity for transporting larger families?
List your priorities in terms of features. Then look for Kia models that shine the brightest within those categories. Narrow down your options as early as possible. This way, you can prepare your budget as well as adjust expectations and preferences.
Know the Market
Buying Kia Singapore cars can lead to different quality and price ranges compared to other countries. Make sure you know the market you’re buying the car from. Taxes, car insurance rates, maintenance, and other car-related expenses, if totaled, may exceed your annual budget. In addition, try to get an estimate of the car’s resale value in Singapore just in case you want to trade it in for a different car in the future.
Examine the Car Yourself
Once you’ve found options, the next thing to do is investigate the car’s history. Buying a car without even checking what’s under the hood is bad practice as a prospecting car owner. Get your hands on a car history report, which can be obtained online. It costs a onetime fee, but it gives you a detailed report of the car and relevant body work done to it in the past.
Financing a Used Kia Car
A car loan is overseen differently depending on whether you are buying from a car dealership or a private seller. Either way, majority of banking institutions will not agree to finance your car if it is older than 5 years.
In general, you will pay a minimum of 2 percent higher APR for a used car than you would on a loan financing a brand new car. However, you can bypass this by using an online loan provider that specializes in financing used vehicles. If you are going for a car loan, make sure you have good credit score to minimize your APR. If you have a bad credit score, try improving it first by paying any credit card balance.
When it’s time to pay for the car, avoid paying cash since you won’t really have proof of purchase if something goes wrong with the transaction. Also, carrying huge sums of cash is dangerous. Instead, pay with a check or credit card, which leaves a paper trail.