You’ve all heard horror stories about dealers glossing over previous damages, refusing to provide any records on the vehicle or attempting to push you through the sales process as quick as possible.
When buying a used car, it is important to take certain steps to minimize risk. For instance, potential buyers should always get a thorough inspection of each car they consider. In addition, car buyers should be sure to consider all the available insurance options. Here’s the top 4 ways to reduce your risk when purchasing a used car, from a dealer or private party.
Prior to buying a used car, it’s a great idea to have the car inspected by a professional, usually a mechanic. A mechanic will check out the car and be able to tell you whether it’s been in an accident or has a mismatched suspension. This kind of professional will also alert potential buyers of any shoddy repairs that may have taken place to make the vehicle more salable.
The mechanic will check that the safety features of the vehicle, such as airbags, brakes, and other features are functioning smoothly. If purchasing the vehicle from a dealer, they should have already have inspected the vehicle and certified it as a safe and reliable vehicle.
A vehicle history report can tell you all about what the car has been through during its lifetime. Title problems, including flood damage or bad accidents, should be included in such a report. The report should also include service records and any safety problems, lease or rental records, number of owners and on occasion, major service records.
3. Auto Insurance
Auto insurance is a great way to reduce the risk of buying a car, whether new or used, and can help protect you in a number of ways. As long as you have insurance, you will have financial protection from any automobile-related losses. These can include accidents, crashes, and other damages from adverse weather or unexpected flooding.
Collision insurance will cover repairs or replacements for the damaged vehicle, and liability insurance will also cover the cost of injuries to others due to the accident. Liability insurance will also cover property damage to others. Comprehensive auto insurance will protect you from costs resulting from fire, theft, or flood damage. No matter what condition your used vehicle is in at the time of purchase, auto insurance can prove to be a lifesaver.
4. Vehicle History Reports
Vehicle history reports, such as CarFax or AutoCheck provide a detailed report for vastly improved customer peace of mind. In addition to the buyback program that companies like CarFax make available, AutoCheck includes a number of features such as auction information and vehicle data provided by Experian that gives a 360-degree look at the car’s history. These reports will be able to tell prospective customers just what they need to know about their vehicle’s past.