HOW BEST To BUY USED CARS
By Michael Webster
Buying a used car is rarely an easy process. Used cars can have problems, they can be expensive to own, and it's often hard to figure out mechanical issues without an inspection from a trained professional. When you are looking for a used car, it's important to take the time to look for used cars for sale by owner to make sure you are considering all your options for the best car and deal out there.Purchasing a used car online stills sounds risky to many buyers. The truth of the matter is the online marketplace is filled with quality vehicles at reasonable prices from honest sellers. When shopping online, you have access to more deals, research, and models than you could ever hope to find by hunting down cars in person. But if you're interested in purchasing a used car from a private seller, we can help with at least one aspect of the process: questions. It's important to ask the seller a lot of questions about the car, and today we're helping you figure out exactly what some of the most important questions should be.
Determine the type of vehicle.
Make a list of your routine driving needs and select the vehicle that best matches those needs. This will help you avoid buying on impulse or emotion. There are countless online reviews of every make and model you can think of. You'll find plenty of useful critiques written by both automotive experts and actual owners.
Why Is He Selling?
One of the most important things you should consider when buying a used car from a private seller is why the current owner is selling the vehicle. Sometimes, it's obvious. Maybe they're moving. Or maybe their kids are gone, and they no longer need a minivan. Or perhaps they bought a new model and want more features, or they just had a baby and need something bigger.
Sometimes, however, private sellers can be shifty about answering this question -- so you'll have to try your best to figure out if they're lying or hiding the truth. We say that because some sellers are getting rid of cars because they're starting to have problems, and some sellers may try to hide these problems from a potential buyer. This is one reason why we always recommend getting a mechanical inspection before buying any used car. But if you think the seller is lying about the answer to this question, that alone may be enough of a red flag to walk away.
Ownership History
Another important thing to consider when you're buying a used car is ownership history. How long has the seller had the car? And more importantly, how has the car been during their ownership? Reliable? Troublesome? Has it ever been in an accident or had any major issues?
While some sellers won't necessarily be forthright about the reliability of their car, it's very important to find out how long a seller has owned a vehicle. A seller who has owned a car for several years is usually a lot more trustworthy than a seller who has only owned a car for a few weeks or months. If the latter is true, it might be a sign that the seller bought the car only to discover some issues -- and now he or she is trying to get rid of it without repairing those problems.
Once again, a mechanical inspection might help you answer this question for sure, but if your intuition tells you a seller's short ownership history might be hiding some problems, it may be a good idea to walk away.
Financial Situation
Another important question to ask the seller before signing any paperwork is: What's the financial situation of the car? For example, if the car is being financed, then the bank is probably holding the title, which means that you'll need assurances from the seller and his or her bank that you'll be the recipient of the title once you pay for the car. You also may want to pay the bank directly in order to ensure that the title ends up in your name.
Some sellers may try to hide the fact that the car is financed, which could end up resulting in a fraudulent transaction. Be sure to ask to see the title before signing the papers, and make sure there's no lien or loan on it. If there is, you may want to talk to the seller's bank in order to figure out what to do next.
Financing
If you've tried to finance a used car, you'll know that it's not as easy as financing a new car. Interest rates are higher, and some banks won't finance vehicles past a certain age or a certain mileage limit.
Some banks also won't finance vehicles through private sellers. That's because many banks are concerned that a private seller won't adequately describe a car's condition, given that the seller doesn't have his or her reputation on the line. If a buyer finances a car that turns out to have serious problems, he or she could walk away from the loan, leaving the bank with a worthless car. Some banks are also worried about potential fraud with private sellers, meaning they will only deal with reputable dealers.
Taxes
Depending on where you live, taxes can be a benefit for either private sellers or dealers. In some states, no sales tax is assessed on private vehicle sales, and that means buying from a private seller can save you thousands of dollars. In other states, sales tax is only assessed on the difference between your trade-in and the purchase price of a new car. In that case, buying from a dealer can save you thousands of dollars. When it comes to taxes, it's best to check your local laws.
Michael Webster is publisher of the Laguna Journal, Small Business Journal, Indian Gaming Journal & El Paso Journal, Prespectorsjournal.com on line newspapers and a Syndicated Investigative Reporter Michael Webster Syndicated Investigative Reports are read worldwide, in 100 or more U.S. outlets and in at least 136 countries and territories. He publishes articles in association with global news agencies and media information services with more than 350 news affiliates in 136 countries. A noted Author, Lecturer, Educator, Emergency Manager, Counter-Terrorist, War on Drugs and War on Terrorist Specialist, Newspaper Publisher. Radio News caster. Labor Law generalist, Teamster Union Business Agent, General Organizer, Union Rank and File Member Grievances Representative, NLRB Union Representative, Union Contract Negotiator, Workers Compensation Appeals Board Hearing Representative.
Why Is He Selling?
One of the most important things you should consider when buying a used car from a private seller is why the current owner is selling the vehicle. Sometimes, it's obvious. Maybe they're moving. Or maybe their kids are gone, and they no longer need a minivan. Or perhaps they bought a new model and want more features, or they just had a baby and need something bigger.
Sometimes, however, private sellers can be shifty about answering this question -- so you'll have to try your best to figure out if they're lying or hiding the truth. We say that because some sellers are getting rid of cars because they're starting to have problems, and some sellers may try to hide these problems from a potential buyer. This is one reason why we always recommend getting a mechanical inspection before buying any used car. But if you think the seller is lying about the answer to this question, that alone may be enough of a red flag to walk away.
Ownership History
Another important thing to consider when you're buying a used car is ownership history. How long has the seller had the car? And more importantly, how has the car been during their ownership? Reliable? Troublesome? Has it ever been in an accident or had any major issues?
While some sellers won't necessarily be forthright about the reliability of their car, it's very important to find out how long a seller has owned a vehicle. A seller who has owned a car for several years is usually a lot more trustworthy than a seller who has only owned a car for a few weeks or months. If the latter is true, it might be a sign that the seller bought the car only to discover some issues -- and now he or she is trying to get rid of it without repairing those problems.
Once again, a mechanical inspection might help you answer this question for sure, but if your intuition tells you a seller's short ownership history might be hiding some problems, it may be a good idea to walk away.
Financial Situation
Another important question to ask the seller before signing any paperwork is: What's the financial situation of the car? For example, if the car is being financed, then the bank is probably holding the title, which means that you'll need assurances from the seller and his or her bank that you'll be the recipient of the title once you pay for the car. You also may want to pay the bank directly in order to ensure that the title ends up in your name.
Some sellers may try to hide the fact that the car is financed, which could end up resulting in a fraudulent transaction. Be sure to ask to see the title before signing the papers, and make sure there's no lien or loan on it. If there is, you may want to talk to the seller's bank in order to figure out what to do next.
Financing
If you've tried to finance a used car, you'll know that it's not as easy as financing a new car. Interest rates are higher, and some banks won't finance vehicles past a certain age or a certain mileage limit.
Some banks also won't finance vehicles through private sellers. That's because many banks are concerned that a private seller won't adequately describe a car's condition, given that the seller doesn't have his or her reputation on the line. If a buyer finances a car that turns out to have serious problems, he or she could walk away from the loan, leaving the bank with a worthless car. Some banks are also worried about potential fraud with private sellers, meaning they will only deal with reputable dealers.
Taxes
Depending on where you live, taxes can be a benefit for either private sellers or dealers. In some states, no sales tax is assessed on private vehicle sales, and that means buying from a private seller can save you thousands of dollars. In other states, sales tax is only assessed on the difference between your trade-in and the purchase price of a new car. In that case, buying from a dealer can save you thousands of dollars. When it comes to taxes, it's best to check your local laws.
Michael Webster is publisher of the Laguna Journal, Small Business Journal, Indian Gaming Journal & El Paso Journal, Prespectorsjournal.com on line newspapers and a Syndicated Investigative Reporter Michael Webster Syndicated Investigative Reports are read worldwide, in 100 or more U.S. outlets and in at least 136 countries and territories. He publishes articles in association with global news agencies and media information services with more than 350 news affiliates in 136 countries. A noted Author, Lecturer, Educator, Emergency Manager, Counter-Terrorist, War on Drugs and War on Terrorist Specialist, Newspaper Publisher. Radio News caster. Labor Law generalist, Teamster Union Business Agent, General Organizer, Union Rank and File Member Grievances Representative, NLRB Union Representative, Union Contract Negotiator, Workers Compensation Appeals Board Hearing Representative.
Michael Webster is publisher of the Laguna Journal, Small Business Journal, Indian Gaming Journal & El Paso Journal, Prespectorsjournal.com on line newspapers and a Syndicated Investigative Reporter Michael Webster Syndicated Investigative Reports are read worldwide, in 100 or more U.S. outlets and in at least 136 countries and territories. He publishes articles in association with global news agencies and media information services with more than 350 news affiliates in 136 countries. A noted Author, Lecturer, Educator, Emergency Manager, Counter-Terrorist, War on Drugs and War on Terrorist Specialist, Newspaper Publisher. Radio News caster. Labor Law generalist, Teamster Union Business Agent, General Organizer, Union Rank and File Member Grievances Representative, NLRB Union Representative, Union Contract Negotiator, Workers Compensation Appeals Board Hearing Representative.
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