Tips for Buying a Used Car for Sale
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Transcript of Tips for Buying a Used Car for Sale
Tips For Buying A Used Car For Sale
Why To Go For Used Cars?
• Most of the consumers, namely teenagers, cannot shell out loads of money for a new car as the average price is approximately $18,000.
• A new car incur a higher cost of insurance, thus increasing the demand for used cars.
• As the number of cars having two and three year old lease is increasing, the supply of such cars ought to rise.
Advantages Of Used Cars
• By buying a used car, the buyer can easily evade the depreciation costs, which can be up to 40% of its value in the first two years.
• Buying a used car can make way for array of options and luxury items for the buyer.
• Many consumers feel comfortable by evading the tedious paper work involved in buying a new car as they feel that buying directly from the owner will be hassle free.
Understanding the Dealerships
• Dealerships account for approximately 50% of the used cars sold annually.
• Good Dealers maintain an impressive reserves of old model cars in top notch condition.
• Some dealer even offer their own warranties.
• Dealers take of the financial, registration, and the licensing issues.
Information To Look Out For
• The vehicle identification number along with the trim line, and mileage must be noted down.
• Ask to see the title, then match the VIN with that on the car and note the name and phone number of the previous owner.
• Contact the local consumer protection office to get an idea of the reputation of the dealership.
Before You Sign
• Check for the mathematical errors, extra charges, and omissions in the purchase agreement.
• Countercheck the information on the purchase agreement with that present on your notes.
• Get all verbal promises in writing.
Question To Ask To Yourself
• What depreciation does to the price of a car?
• How can you estimate the wholesale and retail prices of used cars?
• What are the disadvantages of buying a used car from a private seller?
THANK YOU FOR WATCHING