Have you ever wondered how lemon laws work when buying a used car? Laws in place, called “lemon laws” protect car buyers from “bad” cars — but these usually protect new car buyers. The catch is, it is way more common to get stuck with a bad used car than new one. A faulty used […]
First of all, when you buy a car at auction, you’re buying it “as-is.” While auctions will advertise that they’ve inspected all the cars, these inspections are usually cursory and unreliable. When I worked as a used car manager, I often found major problems on vehicles that auction inspectors were supposed to catch (frame damage, […]
We recommend three car valuation guides that are popular with both consumers and auto industry experts: NADAguides.com, kbb.com (Kelley Blue Book), and Edmunds.com. When it comes to a used car, each of these guides will give you two numbers – the wholesale value (also known as the trade-in value) and the retail value.
Buying a car from a private party can be a great way to save some money. Millions of people buy and sell their cars privately every year, and 98% of the time the transaction is honest and forthright. Nonetheless, it’s imperative that you that you follow these tips so that you don’t get taken advantage […]
Generally speaking, certified used cars are: Vehicles that have passed a thorough inspection which makes them eligible for an improved warranty and special financing. Less than five years old with less than 50,000 miles. The certifying authority (usually the dealership) must have made sure that all the maintenance is up-to-date, which means that all the […]
When it comes to buying a used car, there’s more to think about than just the type of car you’re going to buy. You also need to think about where you’re going to buy it. You have three options: you can buy from a private individual, an independent dealer, or a franchise dealer. 1. Private […]
Used rental cars can be found on just about any car lot in America, and for good reason. They’re an excellent compromise between buying an older used car and buying a brand new vehicle. Used rental cars tend to have fairly low mileage, they’re almost always less than a year old, and they’re thousands of […]
If you’re like most Americans, you’ve decided to arrange financing in order to buy a car. There are lots of different lenders and financing options, but for the most part all used vehicle financing follows the same basic rules: 1. Used Car Financing Rates Are Higher Used vehicle interest rates are higher than new vehicles […]
If you’ve ever considered buying a late-model German luxury car, make sure you do your homework first. Recently we had the opportunity to see what happens when a 2000 Audi A6 has a power steering failure… Our little Audi developed a power steering leak at one of the seals. This type of repair can be […]
Buying an old used car (anything over 10 years) can be risky, but buying an old luxury car can be very risky. In fact, I’ve seen more MAJOR problems with older used luxury vehicles than any other type of vehicle. The moral here is simple — don’t make the mistake of buying a nice older […]