Six used car scams to avoid 1. The proverbial old-lady-driven car is a rare find, so when a vehicle is for sale with mileage thats quite low for its age - 15,000-20,000 km a year is a good average - keep your eyes open. Checking the vehicles history is a good start, but chances are youll have to look deeper than that. If the vehicle is old enough to have a mechanical odometer, check that the numbers line up correctly and that there arent any scratches or fingerprints under the glass. Next, check the condition of the interior, and specifically all the parts that come in contact with people. Are the seats really worn? Does the steering wheel show too much use? How about the rubber pedal covers? Look under the hood for any tags or stickers that indicate when major services were done. Sometimes youll find proof in the unlikeliest places. If you suspect the vehicle youre interested in has led a harder life than has been advertised, find another 2. One of the biggest threats to those with poor credit relates to getting financing approved through the manufacturer. Once terms are agreed to, the salesperson encourages the buyer to take the car home, saying that the dealer will take care of the financing. A few days later, they call back, saying that the initial deal fell through (even though it was never processed in the first place) and that the buyer needs to come back to sign a new - and much more expensive - financing deal. This means higher payments for the buyer, and a bigger profit for the dealership. Avoid this by getting your own financing approved and organized before you go car shopping. If the dealership does have the best offer, never take the car home immediately. Wait a day or two to give the paperwork a chance to process properly, which also gives ample time for any possible problems to arise 3.If a used-car dealer offers to have the cars serial numbers etched into the window glass, dont bother. While a buyer might feel successful for having negotiated a few hundred dollars off the initial price, know that you can do this yourself with a very inexpensive kit found at most auto parts stores. 4.Read the final charges outlined on the purchase agreement before you sign anything. If there is a large administrative charge that the salesperson cant explain easily to your satisfaction, have them remove it or credit the fee back to you farther down the page. Numerous big dealerships have whats termed a cottage fee - a $200 charge, allegedly for the paperwork and prep done before you pick up the vehicle, that in reality is just pure profit from a greedy dealer. Some provinces require that those associated costs are rolled into the sticker price of the vehicle, including if the vehicle required a safety inspection or emissions test. 5.There are numerous ways that dealerships can use extended warranties as massive profit generators. First, if you are tempted to purchase some protection, understand that there is no warranty - from the manufacturer or not - that comes anywhere close to the original coverage given when the car was new. Second, read the fine print to see exactly what will and will not be covered under warranty, and whether the warranties restricts where you have any service done. Third, if you do buy a warranty, make sure to keep all your service receipts, and stick to the manufacturers service schedule - if you dont, that gives the warranty company an opportunity to deny any future claims. Finally, do not fall for the line that an extended warranty is required because the original manufacturer warranty runs out before your finance contract expires. Thats baloney. 6.Even if the vehicle youre looking at looks perfect, have it inspected by a third party. If a dealership doesnt have anything to hide, they wont protest you taking it to your mechanic for a quick check-up. The $100 is a good investment. Stories of one car really being the front and rear of two different cars welded together are true. Check the vehicle identification numbers anywhere you can find them: on the dash, owners manual, the front of the engine block, the cars frame, underneath the spare tire, and in the drivers door jam. If one doesnt match, run far, far away. Shady private sellers - or curb-siders - are usually too good to be true. Who leaves such nice vehicles outside unprotected for days on end? Serious damage can be easily disguised. Try to see any vehicle youre interested in during daylight, when problems are easier to spot.
Posted on: Wed, 30 Jul 2014 14:31:53 +0000