Purchasing a Used Vehicle
Purchasing a used vehicle offers a practical alternative for individuals seeking transportation without the financial burden of buying new. This process necessitates thorough research to assess the condition and value of the vehicle in question. Buyers should start by determining a budget that accounts for potential repairs, taxes, and fees, while also considering factors like mileage, model year, and type of driving they typically do. It's crucial to inspect used vehicles in person—either at dealerships, repair shops, or through private sellers—to evaluate their condition and take test drives under relevant road conditions.
Dealerships often provide a broader selection and some level of accountability if issues arise, whereas private sellers may offer lower prices but less recourse if the vehicle has problems. An unbiased inspection by a qualified repair center is highly recommended to avoid purchasing a "lemon." Additionally, reviewing the vehicle's repair history and ensuring any recalls have been addressed are essential steps. Finally, understanding the purchase agreement, utilizing secure payment methods, and obtaining insurance before taking possession will help safeguard the buyer’s investment.
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Purchasing a Used Vehicle
If someone wants to buy a vehicle, such as a car, truck, or motorcycle, but lacks either the funds or desire to purchase a new one, he or she will likely search for a used vehicle. However, buying used vehicles requires more research into the specific vehicle that one is considering purchasing to ensure that its condition is as advertised.
Used-car lots allow customers to inspect vehicles and get the advice of the sales staff in person. This also has the benefit of allowing them to examine vehicles in person, test-drive them, and check their condition as closely as they desire.
With the advent of the Internet, prospective buyers have a wider range of possible choices, but due to the physical disconnect between buyer and vehicle, it is difficult to determine many of the specifics that would be easier to evaluate firsthand. For this reason, it is advisable to use the Internet as a first step to locate a vehicle, and then arrange to see it in person to ascertain its quality.
Background
Before the search itself, estimate a budget, including a buffer for necessary repairs and improvements, both immediate ones needed before the vehicle is road-ready and any in future. Likely elements to repair or replace include tires, battery, and other parts listed in an automobile maintenance manual. In addition to the purchase price, it is also crucial to consider taxes, fees, and any estimated finance charge and monthly payments, if a loan is needed. The mileage and year of model are also important factors to consider for search purposes, especially as they tend to influence cost and reliability. It may be easier to negotiate the price after having researched the fair-market value of the model of interest listed by the National Automobile Dealers Association (NADA) Guides, Edmunds, or Kelley Blue Book, and for a trade-in, if applicable.
It is important to determine what kind of driving the buyer does on a regular basis (city or highway, lengthy or frequent trips, adverse weather conditions) and assess features accordingly. Maneuverability, responsive brakes, and good visibility are key factors for city driving, for instance. Similarly, if the buyer has a family or regularly transports large or numerous objects, larger vehicles with more cargo space should be considered. Fuel economy is another major consideration for most buyers.
Generally, certain types of vehicles are best suited to particular regional environments. For example, the necessity of traveling frequently through snow or icy conditions (where knowing whether a vehicle has front-wheel, rear-wheel, or all-wheel drive is vital) or in a hot, dry climate will make some vehicles more desirable than others. Walking through the parking lot or garage of a nearby shopping center is a useful way to gauge what vehicles are most popular in the vicinity. Their prevalence indicates that that vehicle performs well in local conditions.
Overview
Sellers of used vehicles are usually dealers, repair shops, or private sellers. A dealership trades in used vehicles, either exclusively or in addition to new ones. Because this is their entire business, a visit to their lot will present a potential buyer with numerous options. It also has the advantage of allowing prospective buyers to test-drive vehicles of interest. Ideally, test-drives should involve the types of road conditions under which the buyer will most often operate the vehicle, such as on highways or hilly terrain. Generally, dealers will have the highest price for comparable used vehicles found through other sources. However, they are also more accountable if something goes wrong.
Some repair shops sell used vehicles or connect prospective buyers with good sources to find the one for which they are searching. Because mechanics are familiar with vehicles in general and their customers in particular, they may give good advice on where a buyer can find a reliable used vehicle.
Finally, some private sellers advertise with signs on the vehicle itself, post flyers on local bulletin boards, or advertise online. Though this is the least official source, it is possible to find lower priced vehicles through private sellers. Since private sellers are not business entities, however, they are harder to hold accountable for issues with the purchased vehicle.
A used vehicle that breaks down shortly after purchase is commonly referred to as a "lemon." If the dealer sold the vehicle knowing that part of it was close to breaking down, the whole deal would be fraudulent. The Magnuson-Moss Warranty Act of 1975, widely referred to as the Lemon Law, stipulates that sellers adequately repair or compensate a buyer if a consumer product under original or extended warranty does not perform at the level advertised. Any used vehicle being considered for purchase should be inspected by an unbiased authorized repair center. It is advisable not to rely on a dealer’s service center as the only guarantor of the vehicle’s condition. In taking this precaution, the buyer reduces the risk of driving away in a lemon.
The repair history is another important consideration. Carfax.com provides an online record of vehicle-repair history by vehicle identification number (VIN). However, if a repair is done privately, not through insurance, this may not be included in the Carfax report. An inspector should be able to look for signs of body damage or repairs regardless. Structural flaws or interior damage (most crucially, to the engine) should be investigated before purchasing any vehicle. Buyers should also research whether the model they are considering has had any recalls and, if so, whether that specific vehicle has been repaired appropriately.
When making the purchase, read and understand the purchase agreement or bill of sale. Use a credit card or a banker’s check to keep a record and get insurance for the vehicle before taking possession. Unless financing was used, the seller should also provide the buyer with a vehicle title.
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