Is the car still under finance?
If the car is still under a financing program, then you should require the owner to satisfy all outstanding debts. You have to check this, because if it turns out that the car is still under a financing program, it could get repossessed. Leaving you with nothing bought, and nothing left to sell.
Mechanical Check-up
You’ve gone through all the previous tips, now its time to take this car to a mechanic. There will always be damages to the car that one can overlook. But, you can check the following on your own,
1. Check the oil on the dip stick; if it has a mechanic look, then it is a sign of wear and tear.
2. Take out the breather cap while the engine is running. If it exhales a lot of smoke, then this indicates damage in the valve stems. This type of damage will reduce fuel-efficiency.
3. New pedals may indicate that the car has traveled more miles than what the odometer says
4. Finally, scroll thru the service log book. View the vehicle’s repairs and other services. This is a good way to gauge the car’s condition.
5. Examine the vehicle carefully during the test drive (Refer to Part 1)
Negotiating for Price
Like I said before, magazines and websites, more or less, give you an idea of how price fluctuates. Do your homework and come up with a mutual amount for both of you (seller and buyer).
If you are buying from a private seller, don’t be too aggressive. They are selling it privately because they think they can sell it at a higher rate compared to the used car garage. Collate your data about the car’s condition, and make necessary subtractions.
Look for variable offers. The seller can throw in new tires, or new pedals, whatever is workable. Those are good.
Payment and Registration
Now, all you have to do is pay the man. Checks and cards depend on where you’re buying. Some second-hand garages offer financing schemes. Private owners are less likely to accept financing schemes or checks. In either case, make sure the deed of sale is printed and legally affirmed.
Finally, make sure the car is registered under your name.
Now you’re good to go! Just comment if you have any questions.
Dave Collins
