Download - How To Buy A Used Car

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Page 1: How To Buy A Used Car
Page 2: How To Buy A Used Car

Reliability Safety Gas mileage Options

There has never been a better time to buy a used car:

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1993 GEO METRO XFI46 MPG HIGHWAY50 HORSEPOWER$1,000-$3,000

2008 SMART CAR41 MPG HIGHWAY70 HORSEPOWER$12,000-$18,000

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Determine your transportation needs Have a clear idea of the amount of money

you would like to spend Do some research, some cars are more

expensive to maintain than others Decide if you would like shop for a car at a

dealer, private party, or both

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Good selection with many cars in one place Financing may be available A mechanic is usually onsite If you have problems after the sale it may be

easier to get restitution from a dealer

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Price: if a seller wants to make a quick sale you may be able to get a good deal

You may be able to purchase from the original owner

You get the chance to question the owner on his or her driving habits

You may have access to service records

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1. 100-point used car check list 2. Paper, pencil, and calculator3. Flashlight 4. Magnet 5. Paper towels6. CD or tape

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1. Make sure body lines are straight2. Make sure panels align evenly3. Look for mismatched paint colors4. Look for warping and excessive corrosion5. Doors should open and close smoothly6. Check tires for signs of uneven wear7. Check for damaged to CV boots, leaking shocks ,

bent frame or paint overspray 8. Use a magnet to check for body filler

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1. Look under hood for excessive dirt and grime and signs of leaks

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1. Check the oil at normal operating temperature

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3. Check coolant using a hydrometer

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3. With the enginewarm check the transmissionfluid dipstick

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1. Have someone else start the engine then observe the output of the tailpipe

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1. Check all electrical components and make sure they are all working

2. Turn on the heat and make sure the heater blows hot air 3. Check the acceleration it should be smooth 4. Listen for clunking or delayed engagement, both signs of

a failing transmission 5. Check the steering by letting go of the wheel, the car

should stay on a relatively straight bead on a flat stretch, listen for noise during turns

6. Mix your route between city, highway, and suburban roads, bumpy roads will give your shocks and struts a test run

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There are really only two kinds of used cars based on overall use : the “In-Town Car” and the “Commuter Car”

In-Town cars are driven primarily in stop and go traffic

Commuter cars are driven primarily on the highway

Always look for Commuter Cars and avoid In-Town cars

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Inspect the trunk for wear, damage, and staining

Inspect the backseats and carpets for food stains

Check for missing buttons on radio or other controls, broken air vents, and chewing gum in the ashtray

Look for excessive wear on door panels

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Any car with over 200,000 miles Salvage title Fleet vehicles Steering Problems Transmission Problems Excessive engine noise Oil, coolant, or transmission leaks Heavy smoke from the exhaust Electrical components that don’t work Metal shavings on or near engine

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With out a doubt, having a mechanic inspect your vehicle is the best way to protect yourself from buying a lemon

Dilemma: at $50 to $100 per inspection this can cut into your car buying budget

Also, some problems may not be evident at the time of the inspection

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Dealers are out to make money selling a car, selling your trade-in, and financing the deal

If you have a trade-in avoid negotiating a price until the final price for your “new“ car is finalized

Always check the Kelly Blue Book value at www.kkb.com. Most cars will fall into the “good” category

Most dealers use Retail Installment Sales Contracts or RISCs which have notoriously high interest rates and late payment penalties

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If you need to finance have your own financing approved before you go shopping. A loan from a credit union is a usually the best option

Before you go shopping be sure to get a free copy of your credit report at www.annualcreditreport.com

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The state of Michigan has no “Lemon Law” in regard to used cars

Cars bought from a private party are sold “as is no warranty”

Cars bought at a dealer can be sold as is no warranty or may come with a limited warranty

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“We’ll pay off your trade no matter how much you owe!”

What they will do is put what you owe on your trade-in on top of the amount you are financing for your car purchase at a no-so-hot interest rate. The monthly payment seems manageable because it has been stretched out to 60-70 months

Dealer Prep FeesYou must pay this amount for “prep fees” to clean the car, fill any fluid and do a safety check. Although not illegal these fees are certainly unethical, check for dealer prep fees before you sign

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The Bait and Switch A dealer advertises several used cars at great prices. You

come to the dealer requesting the cheap car. The dealer says those sold out quickly, but you should look at ______a comparable car at a higher price

Packing the Contract This occurs when the dealer includes unwanted and

unnecessary add-ons into the sales contract such as protective spray coatings for undercarriage, etc. Read the fine print

Lying about trade-in value If your trade-in has fewer than 100,000 miles and few

flaws the dealer should offer you something close to blue book

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The dealer may tell you that you need to purchase “Gap” insurance in order to take the car home. Chances are you are already covered under your current policy, call your insurance company to verify

The spot delivery scam occurs when a dealer attempts to make more money from the sale by saying your original finance contract was rejected. You must take the car back and reapply for financing (at a higher interest rate)

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http://www.voaautoauction.org/ (Pontiac)http://annarbor.craigslist.org/http://www.aachenauto.com/auto_sales.htmhttp://autos.mlive.com/http://www.nationalautoliquidators.com/ (Lenox)

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Tire rotation Oil change Coolant flush and fill Air and cabin filter change Transmission fluid change Use the library’s car care

resources available on our webpage

Once you bring your new care home you’ll want to take care of some routine maintenance: