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