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Making Cents of: Buying a used car
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Buying a car can be an exciting event for anyone, let alone a commuter college student. It’s important, however, to not let that excitement get the best of you, or you might end up with a lemon. The best way to make sure you’re getting the right car for your money is to ask the right questions.
Are you the only owner?
The answer to this question can be very telling. If the car has had five owners and it’s only a 2002, you’ve got a problem on your hands. Buying a car from the original owner is the best scenario because you’ll be able to get first-hand knowledge of any accidents or maintenance problems.
Are you a car dealer?
Avoid buying a car you saw in the classified section from used car dealers.
The car is probably one that they don’t want on their lot, which means you don’t want it either.
Why are you selling it?
This question can help you get more information about the car’s history. If the owner is selling it “just ’cause,” they’re probably hiding something. You can also use this question for your benefit especially if the owner already bought another car and is in a hurry to get rid of the two car payments. Use this as a bargaining tool.
Can I see the maintenance and repair documents?
First of all, if the owner doesn’t have these documents, this car is not for you. If they do, take time to peruse the records. Look for the service record, which will help you see how the car will perform in the future. Also look for mileage records. If the car has been driven over 15,000 miles a year, it’s not a good sign.
If the answers to these questions just aren’t enough, go to carfax.com to get a full history of the car. All you need is the vehicle identification number (VIN). Most owners will be happy to give it to you.
The history report provides a title check, an odometer check, a problem (accident) check and a registration check. A single vehicle history report is $19.99, which isn’t a lot considering the investment you’re about to make.
But if you don’t want to spend the money, Carfax offers a free lemon check.
Another option is to get a local mechanic to inspect the car. This can cost up to $150, but is probably the best way to get any information you might want.
A Carfax report or a mechanic’s inspection can be your best negotiation tool.
Sara Bahnson
Business & Tech Columnist
