Used Vehicle Buyer's Guide

More and more car buyers are looking at the used car market for high quality vehicles at affordable prices. But, looking for that perfect used car can be intimidating.

Here are some used car buying basics to follow that should make you a savvy shopper! And, remember it takes time to do something right. Give yourself enough time to follow these suggestions - one to two months is not an unreasonable length to complete your search. It will be time you won't regret you've spent when you are counting your savings over new car prices!

Questions to Ask Yourself

• What vehicle do you need versus what vehicle do you want?
  
  Do your homework! Make a list of your needs. Narrow your choices down to two or three options so your search will be more targeted and your chances of finding a high quality match at a good price will be greater. Look not only at Make and options, but also think about mileage and age of the vehicle. Do your homework well and your level of frustration in the process will be greatly reduced with just this one suggestion!
  
  
• How Much Vehicle can you afford?
  
  Consider not only the amount you are willing to pay for the vehicle, but also trade-in value of an existing vehicle, financing options available if needed and future insurance and maintenance/repair costs. Check prices of your selected choices by consulting the current monthly edition of the N.A.D.A. Official Used Car Guide at a public library, bank, or automobile dealership. You can also check classified ads and used car sales publications for comparative asking prices. Use online calculators to calculate different payment amounts and interest charges for various finance periods. Stay within your budget when deciding on your vehicle choices. If your choices and prices don't match, try again until they do!
  
  
• Where you will look?
  
  You can check with dealers, used car lots, online, classified ads, friends & family, rental car companies, dealers selling fleet or program cars, and used car superstores - the choices are numerous. To help you decide if a vehicle is worth your time to investigate, call the owner or dealer. This will save you many trips to view vehicles that don't meet your options and give you additional details on those that do.
  
  
• Do you have a trusted Mechanic to check out your choices?
  
  If you have to answer no to this question, make finding a mechanic you trust a high priority. If you're in the Greensboro, NC area, we can help. Ask for recommendations from people whose opinions you respect. Try to find some who specialize in the make of vehicle you want and pay them a visit to talk about your needs. Finding a good mechanic helps twice…when you are buying and when you need repairs and maintenance in the future. A mechanic who is interested in helping you evaluate a prospective purchase will probably be just the right person for your future automotive needs. If you already have found this trusted mechanic, good for you! You are ready to shop.
  

Questions to Ask the Seller

• Find out all you can about the vehicle.
  
  Not only do you want to know the selling price, year, make, model and mileage of the vehicle, but also more specific details. Since the condition of a used vehicle is a big part in determining its value, knowing all you can allows you to evaluate a fair price. Is the vehicle a one-owner vehicle? If a multi-owner vehicle, can the original owner be contacted? Has the vehicle been in an accident, sustained other damage or rust. Is the paint original? Is the transmission automatic or manual? Have any repairs been done recently? When is the vehicle due for it's next inspection? If an individual's vehicle, why is the seller selling? If a dealer vehicle, why did the previous owner trade it in? And most important, does the owner have repair and maintenance records. Being able to review records and verify regular maintenance and repair history can help your mechanic when he is inspecting the vehicle and alert you and your mechanic of any potential problems.
  
  
• Ask if you can test-drive the vehicle.
  
  Try to test drive several vehicles of the same make and model to get a feel for the vehicle performance. Do your test-driving on a sunny day so you can clearly evaluate the vehicle's condition. Check visually for exterior problems and look at tire tread for wear. Test-drive the vehicle on the highway, in town and on hills and flat roads to get a feel for the handling of the vehicle. If more than one person will be driving the vehicle, have each driver test drive. How easy is it to adjust for each driver's needs. Use a checklist to evaluate the condition of each vehicle you test drive for later comparison. If you feel the vehicle is of interest, make note of any items in particular that should be checked by your mechanic. Don't negotiate a selling price or a purchase right after the test-drive. Give yourself time to think it over and compare vehicle choices.
  

Actions you should Take

• Take your selection to your mechanic.
  
  Ask your mechanic thoroughly evaluate this vehicle and to provide you a written list of any required or recommended repairs and their approximate cost. Request that he look for any indication of previous accidents. If possible, have the mechanic show you any problem areas under the hood or under the chassis. Also ask about the general repair history of this particular make and or model. Having a detailed examination of the vehicle by this trusted professional will give you your best opportunity to find a dependable vehicle for a reasonable price.
  
  
• Research the vehicle history
  
  Use the VIN number that is found on the windshield on the driver's side and run a Vehicle History Report at www.experian.com. This will tell you if the car was totaled, salvaged, rebuilt, flooded, failed inspection, stolen, gross polluter, how long the dealer had the car, or if it has odometer fraud. The report will be shown immediately on your computer screen. Although there is a cost for this report, the information will more than pay for itself in peace of mind.
  
  
• Have your financing ready to go.
  
  Be sure that you have your payment method established before you make an offer on a vehicle. Nothing could be worse than finding the perfect vehicle and then losing it to another buyer because you had to finish details to locate your financing. Always be sure to pad your options a little just in case that perfect car turns out to be a little more than you thought, but set a top limit and don't change it! Make your offer to the seller.
  
  
• Get it in writing.
  
  Okay, everybody agrees to the sale. Now what? If buying from a dealer, read the warranty policy and all the papers carefully. For a "Certified" used car, check exactly what items were checked off and approved and be sure you understand what each means. If you buy from a private owner, make sure there are no registered liens against the vehicle and that the person who signs the Bill of Sale is the actual owner of the car. In either case, whatever is promised or stated regarding the vehicle should be in writing. Be sure you understand what paper work is necessary to complete the sale. In the case of an individual seller, you might want to find an automobile sales contract to use. Be sure that all paper work is properly notarized or witnessed where necessary. Talk to your bank or DMV office to be sure you know how to complete the paper work. Check with your insurance agent regarding the addition or deletion of any vehicles on your insurance coverage.
  

Remember, being an informed consumer, having a trusted mechanic and sticking with your plan will reap you great financial rewards when purchasing a used vehicle. GOOD HUNTING!