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CARS & TRUCKS -
Buying a Used Car or Truck (continued)
b. Look at the classified ads in your local papers to see if any vehicles matching your description are available. Perhaps a friend or family member has a vehicle for sale. Also go to Internet sites that sell used cars (there are many) to see what is available both locally and further from home, and at what price.
c. Decide what kind of vehicle you want to buy and where it is located, and get ready to pick a specific vehicle and negotiate. Make sure to prepare a list of questions you want answered and take it with you when you go shopping for the vehicle.
3. Do a test drive of the vehicle before entering into any negotiations. If you like the vehicle, ask the following questions and get the following information about the vehicle:
a. Does the vehicle come with any warranties or is it sold “as is?” If there is a warranty, see what it covers and who repairs the vehicle under the warranty. Check to see if the vehicle is a “Certified Used Vehicle” which means the car has been thoroughly checked over and comes with a warranty from the manufacturer. Everything else being equal, a “certified” vehicle will usually cost more because of the cost of inspections, repairs and warranties required to become certified. Generally, a vehicle has to be no more than five years old to be eligible to become a “Certified Used Vehicle.” Be aware that each manufacturer’s certification program may be different. So check the terms and conditions to see what you are really getting, particularly the length of the warranty and what it covers.
b. What is the vehicle’s history including previous owners, flood, fire and accident damage, mileage, whether the engine or transmission has been rebuilt or a salvage title was ever issued for the vehicle. Ask if the odometer has ever been turned back. Consider getting a vehicle history report from CarFax.com or Experian.com/automotive to help check the vehicle’s history.
c. Check what kind of fuel mileage the vehicle gets by checking the U.S. Department of Energy and the Environmental Protection Agency’s fuel economy site fueleconomy.gov.
4. Once you are comfortable with the history and condition of the car, enter into negotiations. Make sure you remember the negotiating and financing tips discussed above for buying new vehicles. And make sure you understand all the costs you will be incurring with the vehicle purchase.
5. Once you have negotiated a price, but before you sign a contract to purchase the vehicle, make sure you take the vehicle to a trusted mechanic to have it checked out. This may not be possible when purchasing a used vehicle “as is” from an individual other than family or friend, but most used vehicle dealers will allow you to have an inspection done. Do not let the seller tell you they have already checked out the car and that further inspection is not necessary. For whatever reasonable repairs the mechanic feels are necessary get a quote for the cost. If you still want to buy the vehicle, tell the seller that you want the cost of repairs deducted from the agreed upon price for the vehicle.
6. Make sure you get adequate title for the vehicle and that any sales taxes on the purchase are paid by the responsible party.
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