When Buying a Used Car You Have Some Options

When searching for a good used car to buy, you have a few options. Each one has its own advantages and disadvantages.

Option one:

Buying a used car from a reputable registered used car dealer is the best and safest option. When using this option you at least get a limited time warranty on the car and it will also be much easier to get it financed.

Option two:

Buying a used car from a private seller, you may buy a used car cheaper than what you would have paid at a used car dealer, but it can be very risky. Before you even look at the car, check the paperwork. If you have any doubts as to their legitimacy, don’t buy the car.

The car may still be on a hire purchase or lease agreement and will then still be the legal property of the financial institution.

Remember there are shysters anywhere, if you handed him any money, you may never see him again, and if the car proves to be stolen or it is still the legal property of a financial institution you wont have your money or a car.

Only use this option if you personally know the seller.

Option three:

When buying a car at an auction, you may buy a bargain, but you have to keep your eyes open and be very cautious.

Most of the time these cars have no service records and the majority have been repossessed from persons that experienced financial problems or are from firms that have been liquidated.

Due to their owner’s financial circumstances, the cars may have been neglected and not serviced when it was necessary.

However if you have inspected the car thoroughly and decided before the auction how much you are prepared to bid on the car and stick to this figure, you can buy a bargain at auctions.

Only buy a car at an auction if it still is in a good condition and the price you bid does not exceed 50{450b18fb4e8f5b95db3807a9753b1e0519d3e4d461dd68e5594bed7fc3eeb7ae} of the book value of the car.