As soon as you start thinking about buying a used car the main questions you may ask yourself are:
Our intention in this guide is to provide you with sufficient information to answer these questions, and to set your mind at ease during the used car selection process. Buying a used car can be a more economical choice than buying a new one. Why?
Buying a used car is not without limitations however. You will have to take into account the risk reward associated with purchasing any used vehicle. Keep in mind also that your used car may not have the most current safety features that are found on a new car, for example, electronic stability control, LATCH child-seat restraints, head-protecting curtain air bags, etc.
BUYING A CERTIFIED PRE-OWNED CAR With the average price of a new car today being almost $30,000, a certified pre-owned car is a viable alternative to buying new. There are certified pre-owned factory-backed cars and certified pre-owned dealer-backed cars. A certified pre-owned factory-backed car has been inspected, repaired and given a factory-backed warranty, whereas the certified pre-owned dealer backed car has been inspected and repaired, but not given a factory backed warranty, in which case you may need to purchase your own warranty. The price of a certified pre-owned car is understandably higher in order to offset the repairs, inspection, and warranty. But consumers don't mind the higher price because of the peace of mind the vehicle brings plus the savings over the short and long term. The certified pre-owned factory backed cars are usually your best bet. Factory-backed warranty is good at any dealership selling the same brand anywhere in the country. An important note is, the term "certified" can be mis-leading. Any used-car dealer can call any car "certified." There is no legal definition, and no agency watching or policing its use. Therefore, you could see a car labeled "certified" that has not undergone any of the standard reconditioning process. It might be wise therefore to have any certified car inspected by an independent mechanic, just to be on the safe side. Also, purchase a vehicle history report from AutoCheck.com or CarFax.com to ensure there are no hidden issues. Here is our check-list when buying a certified pre-owned car:
Book, National Automobile Dealers Association (NADA) and Edmund's. 2. Make sure the vehicle is factory-backed as opposed to dealer backed. 3. Ask for the "certification checklist" to see what major components were inspected. 4. Purchase AutoCheck.com or CarFax.com vehicle history report to ensure there are no hidden issue(s).
6. Read the warranty carefully to satisfy yourself that it covers everything you want.
a certified pre-owned dealer backed.
Don't assume that everything you hear about certified pre-owned cars make them more advantageous to purchase over a regular used car. If the regular used car you are buying is well-maintained with a good record of reliability, there won't be much of a difference. The real key is, when buying a regular used car, have it thoroughly inspected by an independent mechanic and get a vehicle history report from AutoCheck.com or CarFax.com. WHERE CAN YOU BUY A REGULAR USED CAR? Buying a regular used car provides more options than buying a certified pre-owned or new car. You can find regular used cars in your local newspapers classified sections, auto-selling publications, or web sites that specialize in used-cars. Independent Used Car Dealers These dealerships usually sell any car make. If they are located in your local vicinity and has a good reputation, that's considered a plus. Most of these dealers can also arrange financing. Don't let your guard down when dealing with these dealership, they usually operate in their own interest and not yours. Plus, prices and quality are often lower than a new-car dealership. Although some states lemon law, like New York for example, requires that car dealers provide warranties on used vehicles with less than 100,000 miles and selling for $1,500 or more, it might still be worth your while to have an independent mechanic perform a thorough inspection of the vehicle. Private Owners Because of the existing economic condition, a great number of individuals are forced to sell their car. This makes it easier to get a great price if you buy a car directly from a previous owner. Keep in mind however that a private owner may not be aware of any underlying trouble(s) that a dealership would recognize. But, again, we caution: Have the car inspected by an independent mechanic and get a vehicle history report from AutoCheck. com or CarFax.com. New-Car Dealers Most new-car dealers usually have a used-car department stocked specifically with cars coming off a lease or trade-ins. The new-car dealers tend to carry more expensive, late model used cars. Local Auto Auctions This could be your best source to find a good used car. Go to Gov-Auctions.org to get a list of auto auction houses in your local area. Don't be misled by sites such as Gov-Auctions.org that make you think they actually conduct online auctions. Thats not the case, they simply provide listings of auction houses. Follow these steps to avoid headaches when buying from local auction houses:
If you are looking for financing but have below average credit here are resources we recommend: DriveTime.com 77 locations in 10 states. Car.com
Websters collegiate dictionary defines a lemon as: "An automobile... that is unsatisfactory or defective". Different states lemon laws have extended this definition to allow consumers to seek remedy. Keep in mind also that the vehicle does not have to break down to be considered a lemon. Click here for a list of states lemon laws. If you exercise enough due-diligence before settling on any used car, you can save yourself lots of sleepless nights and countless headaches down the road. Make sure you settle on a model that has a good reputation of reliability. Consumer Reports perform an annual subscriber survey that lists the best and worst used cars with responses based on more than 1.4 million new and used vehicles. Click here to see the most recent list If you want to see whether a vehicle had prior recalls and/or complaints check the National Highway Traffic Safety Administration website www.nhtsa.dot.gov;
This is the most important step you will take in your used car purchase. Regardless of the type of used car being purchased or regardless of what you hear from salespeople, it is your duty to determine the true condition of the vehicle before purchase so as to avoid buying a lemon. Keep in mind also that oral statements from a salesperson about the condition of the vehicle, are not admissible in a court of law. Only written documents are admissible. Important Note: The information we provide here is just that, information. At the end of the day the only way to prevent buying a lemon is to have the vehicle thoroughly inspected before purchase. The first consideration that comes when shopping for car insurance is, what is the minimum requirement under your state's laws. Edgar Snyder & Associates has a list of every states car insurance requirements on their website. The next consideration is your own personal needs. This includes how much you will be willing to pay for your auto insurance. Think about what level of deductible you are able to absorb. Remember, the higher the deductible, the lower your premium will be, but the lower premium means you are taking on greater responsibility should you have an accident. We recommend you shop around when buying car insurance as rates can vary by a large margin. Your initial best bet might be getting free quotes. Click Here to start. You will receive multiple quotes from competing carriers Here is a quick list of the different types of insurance coverages available: Liability This coverage will repair the other person's vehicle if you cause an accident. Talk to your insurance agent about how much liability insurance you should carry in the event you have a serious accident. Liability is the mandatory minimum insurance required by most states. Personal Injury Protection (PIP) PIP covers medical expenses and, in some cases, lost wages and other damages to the driver and passengers in the policyholder's car. PIP is a mandatory coverage in some states. Click here to see a more detailed explanation of PIP from the Wikipedia, the free encyclopedia. Property Damage Liability This type of coverage covers damages you (or someone driving the car with your permission) may cause to another person or to someone's property, up to the limit of liability you select. Collision Collision insurance will pay for damages to your car when you collide with another car or object. Collision coverage will reimburse the costs of repairs, minus the deductible. Unlike liability insurance, collision coverage is not required by law, although if you have a loan from a lender, the lender may require you to have collision insurance which usually cost up to twice as much as comprehensive and comes with a higher deductible. Comprehensive Comprehensive insurance covers damages due to fire, theft, or other losses caused by something other than a collision with another car. Although this coverage is optional in most states, it may be required by a lender to ensure the asset is fully covered. You may choose to buy extended at the time you purchase your car, or wait a while. Keep in mind that most auto warranties have a maximum mileage limit above which they will not sell a warranty. Your decision on whether to buy warranty will depend on how long you intend to keep the car. If you buy a certified pre-owned car with 3 years or 36,000 miles warranty and you only intend to keep it for 3 years then buying extended warranty may not be worth your while. However, if you intend to keep the vehicle for another 2 years (total 5 years) the extra two years warranty would make sense. If the used car is not a certified pre-owned factory backed, you might want to first determine if there are existing warranty before you make an extended warranty decision. The reliability of the car will also determine whether you choose to buy extended warranty, for example Toyota and Honda have demonstrated consistent reliability and performance over time. Where should you buy extended warranty? Extended auto warranties may be purchased from either the manufacturer or an independent warranty company also known as aftermarket extended warranties. Manufacturer-backed warranties can be bought from an authorized dealer, and is less risky than the aftermarket type. The aftermarket warranties are usually cheaper but may bring greater risks. Make sure you choose a company with a minimum "A" rating with Standard & Poor's, and/or a minimum "A" or "A-" rating with A.M. Best. Shop around for warranty before you buy. Get free quotes. Click Here to start. You will receive 4 competing price quotes from reputable auto warranty companies where you can save up to 60%. GOOD LUCK WITH YOUR USED CAR PURCHASE |
| The right information can make a difference! |
Last updated November 12th, 2009
| WHAT KIND OF USED CAR SHOULD YOU BUY? |
| HOW TO AVOID BUYING A LEMON |
| BUYING EXTENDED WARRANTY FOR YOUR AUTOMOBILE |
| BUYING INSURANCE FOR YOUR AUTOMOBILE |
| Take the hassle out of buying a used car! |
If you don't personally know a qualified mechanic to perform the inspection, check your
local yellow pages. Make sure the mechanic you hire is an Automotive Service Excellence
(ASE) Certified Master Technician that brings all the necessary inspection and diagnostic
equipment, computer testing equipment, and hydraulic lifts to get under the vehicle. The
standard price for a complete inspection is around $120.
local yellow pages. Make sure the mechanic you hire is an Automotive Service Excellence
(ASE) Certified Master Technician that brings all the necessary inspection and diagnostic
equipment, computer testing equipment, and hydraulic lifts to get under the vehicle. The
standard price for a complete inspection is around $120.
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| Used Car Buying Guide |
