 Private Used Car Buying: Steps You Should Take
Posted by carsandtrucks on Wednesday, December 05 @ 08:42:28 PST
Are you considering buying a used vehicle from a private sale? Buying from a private sale can mean you will save some money, but you might be taking some risk. Usually the seller is asking a price that is somewhat higher then what a dealer would have allowed for trade in and somewhat lower then what the dealer would retail the vehicle for. That is where saving the money comes in. The risks are where do you turn if the vehicle has mechanical problems or isn't everything the buyer represented it to be. When you buy from a private seller you will not be given any type of warranty. The only exception to that statement is
when the manufacturers warranty is still in effect and that the warranty follows the vehicle regardless of ownership. It is imperative that you have a used car carefully inspected by a qualified technician. I recommend you use the dealership associated with the make of car you are buying. The technicians at the dealerships are familiar with the product and are well aware of any items that tend to be problematic. There will be a charge associated with the inspection but it is money well spent. You also want to know about the title of the car you are buying. If the seller has a lien on the vehicle that loan has to be satisfied before you can get the title. If there is a lien, I recommend you close the deal at the loan institution holding the title. That assures you that the loan will be paid off. There are online services that you can use, such as Car Fax, that will give you a history report of the vehicle you are interested in. My experience with these services is they give some basic information but may not be as conclusive as you might like. Again, the best defense is a detailed inspection performed by a qualified technician. A person selling a vehicle private sale expects you to negotiate the price so they will be asking more then they actually will take for the vehicle. To get a feel for what to offer do some research. Find out what like vehicles are selling for by checking online, in local newspaper, and at car dealerships. Remember you should be paying less then what a dealer is asking. Private sales can go smoothly if you take the time to be informed and prepared.
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