The 8 Biggest Mistakes – #3

Buying a used car can be one of the most stressful things that you’ll do this year. Yet, here are specific steps to:

• make the buying process easier
• ensure you get more than a good deal
• find a vehicle that will last you for years to come

 I have compiled a list of the most common mistakes my customers have made when buying used cars. Making any one of these mistakes can cost you hundreds – even thousands of dollars more than necessary. Finally, you can get ahead of the learning curve and buy your next car with confidence.

Mistake #1 – Not test driving early in the buying process.

Mistake #2 – Not checking the CARFAX report.

Mistake #3 – Not looking at the vehicle inspection report.

Don’t take the seller’s word that the car you want to buy is in good condition. Lives have been changed – and not in a good way – by taking someones word for this (see Brenda’s story, Mistake #8).

The dealership I work with uses a 150-point checklist to guarantee that every major component of every vehicle is inspected before it is offered for sale. A detailed checklist and a competent mechanic guarantee that most deficiencies are fixed before the car is sold.

Why spend $15,000 on a vehicle and not know that it needs a $4500 transmission job, or $600 for brakes? How do you protect yourself from making these kind of mistakes?

INSIDER INFORMATION – A vehicle inspection report is a basic, inexpensive tool that every used car buyer should use.

If you are buying a car from a private party have your mechanic perform a pre-purchase vehicle inspection. Most mechanics are familiar with this process and will charge you $100 or less. They can quickly tell you about any problems and the cost to fix them. You’ll need to factor these results into your buying decision.

STORY- A seller is asking $9800 for their low mileage 2007 Chevy Aveo. Your mechanic says it needs a $550 brake job. Show the seller the report from your mechanic and demand $650 off the asking price. That will compensate you for both fixing the brakes AND the time and effort to take care of a problem that the seller should have already fixed.

Reputable automobile dealers will gladly show you their vehicle inspection report. You save the effort and cost of getting one from your own mechanic.

RED FLAG – If a dealer refuses to show their vehicle inspection report:

• they may not have inspected the vehicle themselves
• they may be trying to hide something

Be ready to RUN – DON’T WALK – to the exit.

See the next article in this series:

Mistake #4 – Ignoring fuel consumption.