Kip Tips
How to Check Out a Used Car
Before buying, do these two things to make sure the vehicle is in good condition.
By Cameron Huddleston, Contributing Editor, Kiplinger.com
May 10, 2010
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Although the supply of used cars has thinned and prices have risen, you still can find deals. However, you need to do some legwork to make sure the car you're buying isn't a clunker. The June issue of Kiplinger's Personal Finance magazine offers these tips for ensuring that a used car is in good condition:
Get a vehicle-history report. Carfax's report lists ownership history, odometer readings, and any accident reports, flood damage or title fraud. The reports are free at thousands of used-car dealers; you'll pay $35 for one or $45 for five on the Carfax site if you're shopping private parties. The government's National Motor Vehicle Title Information System also gives information related to fraud and theft for $2 to $4 per report, including title and salvage data that are required to be reported by law.
Get an inspection. It will cost you $50 to $100 and is worth every penny. Dealers should be used to this request and have a policy to deal with it. If you're buying from a private party, a smart seller probably won't just hand over the keys. Leaving your car or credit card with the seller may provide enough peace of mind, but the best compromise (and safest plan for both parties) is to meet at the mechanic's shop.
For strategies to get the best price on a used car, see Bargains in Used Cars.
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Reader Comments (2)
Posted by: Bob at 05/10/2010 07:49:40 PM
"Leaving your car or credit card with the seller may provide enough peace of mind..."???? Are you kidding??? How do you know the seller won't take advantage of you or steal your information or even your car? Identity thieves buy cars and sell them under someone else's name. They may also sell you the car but then disappear after taking your money with promises of a later delivery. Buying from a private party usually saves money but scammers now abound. Beware of a price that sounds too good, an ad from out of state, or one that claims the seller is going on active duty and selling cheap because they don't want the vehicle left sitting in the driveway while they are gone. Con artists and identity thieves are working overtime and our government isn't doing much about it.
Posted by: Greg Krehbiel at 05/11/2010 02:28:10 PM
Yes, get a carfax and an inspection. But to avoid many other problems, deal locally. If you meet the seller at his house, many of the concerns Bob mentions go away. Craigslist is a great source for used cars, but beware anybody who wants to use the eBay / Amazon / PayPal "buyer's protection program." It's a scam. Meet the seller in person, look him in the eye and shake his hand. There's no substitute for that.