Buying a Used Car

Sound familiar? Before you start shopping for a used car with a teenager you know, do some homework. It may save you serious money. Consider driving habits, what the car will be used for, and your budget. Research models, options, costs, repair records, safety tests, and mileage through libraries, book stores, and web sites. Whether you buy a used car from a dealer or an individual:

• examine the car using an inspection checklist. You can find checklists in magazines and books and on Internet sites that deal with used cars.
• test drive the car under varied road conditions — on hills, highways, and in stop-and-go-traffic.
• Ask for the car’s maintenance record from the owner, dealer, or repair shop.
• Hire a mechanic to inspect the car.
• Purchase an auto history report

The Federal Trade Commission’s Used Car Rule requires dealers to post a Buyers Guide in every used car they offer for sale. The Buyers Guide gives a great deal of information, including:

• Whether the vehicle is being sold "as is" or with a warranty.
• What percentage of the repair costs a dealer will pay under the warranty.
• The major mechanical and electrical systems on the car, including some of the major problems you should look out for
• The fact that spoken promises are difficult to enforce; and

The Buyers Guide also tells you to: get all promises in writing; keep the Buyers Guide for reference after the sale; and ask to have the car inspected by an independent mechanic before the purchase.

Source: Federal Trade Commission