Used Car Buying Tips

There are a variety of reasons why you choose to purchase a used vehicle from a car dealer. You certainly don’t want to spend your hard earned money on something that will break down and will need costly repairs. You need to protect yourself against car dealer’s scams.

Many people hate car dealers, because a lot of them just have to gain more profit. If you’re already in the market for used cars, one of the most important factors that you need to take into consideration is reliability. Forget the dealer’s gentleman handshake or “don’t worry about a thing, I’ll take care of you” speeches. Find all the necessary information on the internet relating to the used car which you are looking for.

The top auto scams that you absolutely must avoid are the following:

• Yo-Yo Financing Scam – this is a very common car fraud among car dealers to rip off customers with below average credit by convincing them to drive off in cars without finalizing their loans. The dealer gives you the keys to your new car and tells you that the sale is final and you may drive your car off the lot. A few days later, you get a phone call from the dealership letting you know that the loan fell through because you did not qualify for the interest rate you thought you would qualify. Then they ask you to return to the car dealership to work out a new loan.

• Window Etching Fee – car dealer offers window etching for $300 to $1000. Some people try to talk down the price, and they often succeed, but the dealer still makes a few hundred on you. It is recommended to window etching yourself after the car purchasing process is over.

• Extended Warranty scam – this scam is most popular, and you can easily avoid it. When you take a loan on your car, the dealer will say that you have to purchase an extended warranty because the bank requires it for the loan. Avoid this scam and tell the dealer to write down that the extended warranty is required for the loan and they’ll most probably find some excuse to remove the extended warranty.

Always remember to follow Consumer Reports which rate used cars, and give more data on the reliability of each used car!