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HOW TO BUY A USED CAR 

(Some  material taken from "Used Cars -- How to Buy One")


Used car dealers are the slickest of the slick --  the best salespeople on the lot. At a dealership, the real profits are made in  the used car section. That's because some sucker has traded in their cream puff  at a below-blue book price. Now it's up to the used car guys to convert that  cream puff into cash.

This doesn't mean you can't get a good deal in a  used car. You just have to know what you're doing. Many of the principles  covered in the New Car Tips apply here. Apply the three phases of research,  shopping and buying. However, since the car is used, you also need to have a  mechanic look it over. This is a $80 investment that can save you thousands.  Don't leave it to chance, get a trusted mechanic to put it up on a rack and  check everything. Then you'll be sure you're getting a car that will give you  faithful service. There are companies such as Auto Exam and Auto Spec that can  determine if the used car is in sound mechanical condition.

The first  question to ask is what type of vehicle and price range you are looking for. You  can use the Auto Almanac to select the vehicle types you prefer (see note below  for cars to avoid). Contact your Credit Union to check which vehicles fall into  your price range by reviewing used car value guides. Don't forget to call your  insurance company to check on insurance rates for the vehicles you are  considering.

Once you have completed a list of desirable vehicles - the  search begins. Remember, as you start on this quest, the more restrictive your  list of vehicles, the more time it will take to find what you want. Build a list  of at least three target cars, write their names and prices on 3 x 5 index cards
and carry them with you as you shop.

If your budget allows, shop for a  car which is only 2-3 years old. This means the previous owner has incurred the  steepest drop in the car's value. You can own it for another three years before  the value begins dropping again. If you're smart, you'll unload it before then. 
 

Where to Look for Used cars. 
 
Rental cars or program cars: Usually these cars are kept less than six  months, are well-maintained and accompanied by "legitimate" warranties from the  manufacturer and the rental companies. The downside of this route is that the  vehicles tend to be priced on the high side and selection is limited. 
 
New Car Dealers: The used car section of a new car dealership can have some real  bargains. This is because the previous owner traded the car in for a below-blue  book figure. If you negotiate wisely, you can give the dealership a profit, but  still get it for a great price. Set your opening offer very low. Be prepared to  stage a walk out when negotiations slow down. But walk out slowly, they'll  probably call you back.

Ignore any stories you hear regarding car  histories from the salespeople. Instead, make sure any vehicle you find on a  used car lot has not been crashed or otherwise abused. The first step in this  process is to have Rapid Auto Check out the vehicle. The second step  is to use the Vehicle Identification Number (VIN) to trace the original purchase  location of the vehicle. Have your insurance agent help you with this part of
the process. If the vehicle was originally sold in a different state you should  probably walk away from it.

Private Parties: This has the highest risk  but also represents the best opportunity for a great deal. Private party deals  allow you to buy at nearly wholesale prices but without any warranty. Check the  newspapers or look for cars with FOR SALE signs. When you go to look at private  party vehicles you can expect more than half will be misrepresented or have  serious problems--this is not a game for those who lack time, patience, and  savvy. When you do find a vehicle which is to your liking have it checked out by  Rapid Auto Check. If it checks out - negotiate with the seller. Typically,  you can offer well below the retail price (listed in the used car guide) to a  private party seller. Don't be afraid of insulting anyone with your offer; the  seller is free to reject the offer, or will counter offer if he doesn't feel  your offer is adequate.

When shopping for a car from a private party  consider these simple precautions:
 
Always have a friend accompany you when you are  shopping

  • Never look at used cars at night

  • Be careful of cash transactions when purchasing a  used car

  • Ask to see the seller's drivers license as part  of the deal

  • Get a written Bill of Sale stipulating all terms  of the sale

  • When paying for a used car hand your check  directly to the owner

  • Check the VIN on the title to make sure it  matches the VIN on the vehicle

  • Check the name on title matches the name of the  seller

Cars to Avoid:

Some cars require much more expertise to determine if they are  good values.  The following used car types should probably be avoided: 
  
  • Vehicles more than ten years old 
  • Any non-US or non-Japanese car which is more than 5 years old
  • Car models which were on the market for less than two years
  • Four wheel drive vehicles Cars made by companies which are no longer in  business
  • Cars subject to high levels of recalls
  • Any cars with signs of exterior rust
  • Vehicles which have been totally repainted
  • Customized or non-stock vehicles
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