Tips For Buying A Used Car
Buying a used car is one consumer decision seemingly fraught with peril. What if you get a lemon? What if the seller lied about the car’s history? Which cars hold the best value? However, when it’s done right, buying a pre-owned car can save you money and get you more car for your money than buying a new one.
Following a few tips for buying a pre-owned car can make it feel less like taking a risk and more like making an investment.
Know Your Resources
When it comes to shopping for a pre-owned car, several resources can help you make your final decision and provide information to help you make a more informed decisions.- FTC: The Federal Trade Commission is the national government organization tasked with protecting consumers from unfair or deceptive business practices. The FTC maintains a web page devoted specifically to buying a used car including what to look for, payment options and how to handle private sales.
- Publications: Three primary publications track car value and provide information for all makes and models of cars in various conditions. Knowing the value can help you better negotiate a price. The guides are the National Automobile Dealers Association Guide, Edmunds and Kelley Blue Book.
- Repair and Maintenance Concerns: Automakers issue various recalls on certain makes and models for both minor issues and major mechanical problems. The United States Department of Transportation maintains a Vehicle Safety Hotline (1-888-327-4236) and website providing information on recalls.