Friday, 28 August 2009 09:33
How many of you have purchased a car or are thinking of purchasing a car in the near future? Will you buy new or used? Below are a few tips if you’re thinking about buying a used car:
Tip #1: Do some research.
Search online ads and the newspaper for cars in your area before you see the dealers. This will make you a much savvier shopper. You will be more aware of what's available, the questions to ask, and reduce the risk of being scammed.
Tip #2: Secure financing for the car before shopping.
Get pre-approved for an auto loan before shopping for a used car. With financing secured, you'll know how much you can spend to stay within your budget.
Tip #3: Check with CARFAX.
CARFAX provides you with the history of a car, given the car's VIN#. Every vehicle has a unique VIN# which may be used to gather information about the vehicle. CARFAX verifies that there was no previous branding of the title, flooding of the car, odometer rollback, salvaged title, or that the car was reported stolen. It is recommended that you get a 30 day Unlimited CARFAX Vehicle History Report.
Tip #4: Have a mechanic do an inspection.
Have a mechanic put a car you're interested in buying up on a lift and do an inspection. You'll be able to find out if there is any damage from accidents that may cause you problems or that should be repaired before the car is sold.
Tip #5: Be a tough negotiator.
When you've thoroughly checked out the car and are ready to make an offer, remember to be a tough negotiator. The seller does not expect to get the asking price, but they want you to think that's the lowest price they can accept. Never let the seller think you HAVE TO HAVE that particular car!
Tip #6: Get an extended warranty.
When buying a used car, it is recommended that you purchase an extended warranty to cover repairs. Warranties are available for used cars as much as 8 years old and up to 60,000 miles. In addition, never sign an "AS IS" agreement when purchasing a used car.
For information on FORUM Auto Loans, click here.
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