| A used car which is also known as a second | | | | (Vehicle Identification Number) can be made |
| hand car or a pre-owned car is a vehicle that | | | | by comparing the VIN with the title to the |
| is previously owned by one or more owners. | | | | number on the car to make sure they are |
| Used cars are sold through a variety of | | | | identical. The VIN is usually located on the |
| franchise and independent dealers and rental | | | | dashboard under the windshield, on the door, |
| car companies. Individuals can also purchase | | | | hood and engine. |
| and sell used cars through online and | | | | |
| newspaper classifieds. | | | | Step 5: Finance for the car can be done |
| | | | through Cash, Bank loans or Financing through |
| Purchasing a used car can save a lot of | | | | the dealer. Unless it is planned on |
| money. A new car depreciates fast in a few | | | | purchasing by full payment in cash, it is |
| years and is worth only about 50-60 percent | | | | suggested to get pre-approved financing and |
| of the original price after as short period | | | | the cost of Insurance is also to be factored. |
| as three years. It is true in general that a | | | | Usually the interest rates on a used car will |
| new car requires less maintenance initially | | | | be higher. |
| and during the original warranty coverage | | | | |
| period offered by the manufacturer, most of | | | | Step 6: Used Car markets. Used cars can be |
| the problems would be covered. Still, buying | | | | bought from Private parties; new car |
| a new car will not always mean that the buyer | | | | dealerships used car lots and auctions. |
| will get complete perfection. Buying a used | | | | |
| car still involves a bit of a risk - there is | | | | Step 7: Test-driving. On a test drive, the |
| no guarantee that the car has been properly | | | | aspects like Acceleration from a stop, Engine |
| maintained. There may be some hidden problems | | | | noise, and Hill-climbing power are to be |
| in the engine or automatic transmission that | | | | checked. |
| may not be felt when the car is test-driven | | | | |
| while buying. Maintenance costs are typically | | | | Step 8: Negotiation. The foundation of |
| higher for a used car. However, used cars are | | | | successful negotiation is information. A |
| more preferred these days but some care is | | | | thorough study on the price prevalence for |
| exercised before buying. Moreover many car | | | | similar type of cars should be known before |
| manufacturers offer used cars of previous | | | | buying. |
| models under Certified Pre-owned programs | | | | |
| where the used cars are inspected and | | | | Step 9: Closing the deal. A thorough review |
| reconditioned and packed with additional | | | | of the contract is required. The charges like |
| warranty coverage. | | | | cost of the vehicle, documentation fee, smog |
| | | | fee, smog certificate, sales tax and license |
| Steps to buy a used car: | | | | fees are to be understood. |
| | | | |
| Step 1: which type of car? Typical factors | | | | Lemon Law: <> |
| are how may people are to be transported, | | | | |
| distance to commute, safety features, | | | | Lemon laws generally apply to new cars sold |
| mileage, accommodating in the parking area or | | | | to private people. Used car lemon laws cover |
| garage. | | | | non leased cars bought from dealers. Some of |
| | | | the steps to avoid buying a lemon are as |
| Step 2: How much can be afforded? Down | | | | indicated below: |
| payment in a single stroke or determining a | | | | |
| realistic monthly payment that will fit into | | | | The VIN # has to be checked. There are |
| the budget is an important first step. | | | | possibilities that even a new vehicle might |
| | | | have been damaged or written off and not |
| Step 3: Used car bargains. The price of a | | | | disclosed by the seller. Obtaining a report |
| used car is based on its brand name, | | | | from authorized agencies like CARFAX (in |
| condition, mileage, performance and | | | | Canada and the US), is recommended. |
| reliability. Hence, prudent bargaining should | | | | |
| be exercised. | | | | Confirmation in writing should be obtained |
| | | | that “there is no lien“on the |
| Step 4: Research the prospective used car. An | | | | vehicle. |
| online research can also be looked for used | | | | |
| cars in the desired price range by reading | | | | An independent mechanical inspection is to be |
| car reviews, buying tips and safety ratings. | | | | arranged. |
| Car buying tools which provide model | | | | |
| information and side by side feature | | | | All implied or expressed warranties are to be |
| comparison can be examined. Physical | | | | obtained in writing. This is required |
| inspection of the interiors and exteriors can | | | | especially on an used vehicle as normally |
| be carried out in the first place to satisfy | | | | warranty will not exist. If there is a |
| that all the interior components lighting | | | | warranty, period and coverage of the same |
| system and tyres are in good condition. Any | | | | will have to be obtained in writing. |
| defective items requiring replacement after | | | | |
| the purchase will increase the cost of the | | | | Salespeople are not mechanics. A copy of the |
| used car. A review of the vehicle history | | | | report of the mechanical inspection completed |
| report can indicate the details like history | | | | by the dealer and signed by a certified |
| of registration, odometer readings, major | | | | mechanic is to be insisted rather than merely |
| accidents, lease or Finance details, stolen | | | | relying on a verbal mechanical report from a |
| and warranty check. A check on the VIN | | | | salesperson. |