| Not everyone can afford a brand new car. And for | | | | thrive on these loans because they get commissions, |
| many who can, they simply choose to buy a used | | | | or kickbacks, for each buyer who finances through |
| vehicle once it has gone through its initial steep | | | | them. |
| depreciation of the first year. When it comes to | | | | Some dealers do nothing but buy and sell used cars; it |
| making that used car purchased, it's frequently done | | | | doesn't matter what make or model. You might be |
| from used car dealers. | | | | able to find a decent car, but you can't expect the |
| These car dealers have garnered a pretty bad | | | | sales person to know much about each vehicle. They |
| reputation over the years. Even movies tend to depict | | | | aren't experts in all models ever made. Perhaps they |
| them as a bunch of losers selling vehicles that should | | | | aren't expert in any model at all. All they know is how |
| for the most part have been sent to the junk piles. | | | | to sell you a car from their lot. |
| Consumers have lodged many complaints over the | | | | When you are buying a car, any car, it's a normal |
| years alleging everything from failure to live up to | | | | assumption that you'll be able to ask questions that |
| guarantees all the way up to fraud. | | | | pertain to that specific model. To compound the issue, |
| But are they really that bad? Depends. Sure, there are | | | | many used cars aren't even sold with their original |
| plenty of dealerships out there for both new and used | | | | owner manuals. You might find a car you absolutely |
| vehicles that operate on the fringe of the law. They | | | | love, but don't buy it on looks or price alone. |
| make promises that they won't put in writing. They | | | | Before making any commitments at any dealership, |
| outright lie to the buyers, and they rarely point out | | | | and that includes even making a "refundable" deposit |
| important details in the fine print. Is this all their fault, | | | | to hold the car, do some research. Go home and |
| however? What about being an educated consumer | | | | check out that particular make and model. Look for |
| and understanding the deal you are entering into? | | | | recalls, consumer reviews, and pricing information. Run |
| One of the most common problems consumer have is | | | | a CarFax report if the dealership won't do this for free. |
| the type of financing available. Even though there are | | | | You'll need the VIN for that vehicle, and by law they |
| many credit worthy middle class families who make a | | | | have to give it to you. |
| conscious decision to buy a good used car, finance | | | | Take it for a long test drive. Some dealers like to steer |
| companies typically charge higher interest rates no | | | | you around their parking lot or maybe around the block. |
| matter what your credit rating. Even someone with an | | | | Make sure you get it on a highway, test the brakes, |
| excellent FICO score can expect to pay 2% more on | | | | test the pickup, and then call your insurance company |
| a used car loan than on a new one. Many dealerships | | | | for a quote. |