Recent developments for car buying include the introduction of new payment methods for car purchases through Amazon’s Amazon Pay and Carvana’s Carvana Pay. These new ways to buy a car are becoming more common as sellers add them to their repertoire.
Depending on the seller, users can add a card associated with Amazon Pay or Carvana Pay when purchasing a vehicle. This adds another way to save money and is yet another way for you to be in control of your purchase.
This article will talk about how to use these new services if you do not already have them setup.
Contents:
Check the seller’s history
If you are buying a car through Amazon Pay, then you should do some additional research to see if the car you are interested in has been lost or stolen.
Many sellers on Amazon have poor feedback, which means they have been accused of selling cars that have previously been reported as stolen. This can be a huge turnoff for buyers!
To prevent this problem from happening to you too, make sure the seller has a good reputation by looking at their previous purchases.
Make sure the seller has accepted your payment method (Amazon Pay is free), because they may not do this if they get solders and/or buyers involved.
Given the chance, a determined seller can up-sell security features such as tracking and protection plans, which can increase the price by more than 100%.
Ensure vehicle registration and inspection are up to date
Even if you do not currently own a vehicle, it is important to check the vehicle’s registration and inspection status. Many new car owners make the mistake of checking their vehicles only when they purchase a new car, which is great if you are up on your updates.
The National Highway Traffic Safety Administration (NHTSA) states that drivers should check their vehicle registration and insurance every year, even if they have no intention of driving it. This ensures there are no errors or outdated information.
If your car has recently been in an accident or has significant damage, then you should check the insurance too. Check with your local police department to see if your insurance company has been notified of any recent accidents for this reason.
Beware that although Amazon does not require vehicle registration and insurance in Amazon payments, they do state that vehicles must be verified through other sources before purchase can happen.
Make an initial deposit
Once you’re ready to buy a car, it’s time to make an initial deposit. You will need to make a minimum commitment of $1,000 toward the purchase of your next vehicle.
This can be done through Amazon’s AutoPay or by checking with your bank about placing a credit card financing agreement. Either way, you must have the money available to cover the remaining balance when the car is ready to sell.
Once this initial $1,000 is made, it can no longer be easily withdrawn, so be prepared to provide acceptable proof of debt. Your new vehicle should arrive within four weeks if you keep up with the monthly payments!
Make sure you always keep your fingers on your credit card until you get your new car! If you need help establishing proof of debt, look up “bad credit cars” on Amazon and see if they can afford yours.
Pay the remainder of the balance upon pickup
If the balance of the car is less than $500, you can still pay the remainder of the balance upon pickup. This is the case if you have a valid credit card on file with Amazon.
You can do this via a website or through Amazon’s mobile app. Simply enter your credit card number at checkout and pay the remainder via PayPal or Amazon’s app.
This is true even if you did not take advantage of your 0% APR promotional offer during purchase. Your bank will still charge that debt when you later pick up the car.
If you already paid off the rest of the balance when it was purchased, there are no repercussions to changing payment methods.
Get insurance immediately
If you’re just starting out, you can buy car insurance for about $100 off the market place. This is a service that will offer you insurance immediately by contacting your household provider.
By taking advantage of this service, you’ll be able to check if your car insurance is live through their site or via your provider. If it’s not, then you can go out and get it!
If you are driving a high-risk vehicle, such as an automobile with automatic transmission or one that runs with diesel engines, get supplemental insurance. These policies will likely be more expensive but could save you in the long run.
Consider getting collision damage coverage if your car is very valuable and so are the repairs. Having coverages will help reduce any future problems with your vehicle.
Have the car inspected by a mechanic
If you are buying a car through Amazon Payments, make sure it has been inspected by a mechanic. Car insurance is not included with the purchase and you would need to obtain it before driving your new car.
Also, check the brakes and other safety features on the vehicle to make sure they work. Some companies add fees for these features when shopping online or by phone. If any of these features seem wrong, don’t purchase it!
If all goes well, your new car arrives in good condition and you are happy with its safety and function. If something does break, Amazon will help you out if you have paid for their services.
Take pictures of all damage before receiving the car
When you buy a car through Amazon payments, you’ll need to take pictures of the car before driving it off the lot. This is to confirm that the car you’re buying is in good condition and that it features all the features you need.
You can do this either by bringing the car to the dealership or by taking a picture at their Amazon-owned website. If there are any issues with the car, such as damage or an incorrect model number, they can go ahead and purchase it from Amazon.
If there are no issues, they can send you back your money and send up a new opportunity for them to purchase the car. Once they do, make sure to take pictures of the vehicle before driving it off the lot to make sure everything is still intact.
Know what you are paying for
When you’re shopping for a new car, make sure you understand what type of car you’re buying. A car is typically described by its weight, or weight distribution.
A heavy vehicle has a higher center of gravity which indicates a higher amount of weight on the road. This can affect how easily you drive and where you drive it.
The right car for you can be a light vehicle that distributes its weight well and has an easy to operate controls.
You should look for a car that is around $30,000 – $80,000 in value. If you have a lot of savings, buy the nicer version of the car because it will be more expensive in the long run.
The main reason people buy used or cheap cars is because they do not meet their needs.