Monday, March 7, 2016

How to Buy a Car for Private Sale

Buying a car is an important decision that can have financial repercussions for years to come. There are many things to consider when buying a car and one of the early decisions involves whether to buy privately or through a dealer. While a dealership typically offers better protection against a faulty car, they are also traditionally more expensive than buying from private owners. Buying a car privately requires a bit of diligence, but it can result in a great deal and reliable vehicle.

Instructions

    1

    Decide what is most important to you regarding the type of car and its features. Consumer Reports and other auto publications are useful in finding car models that are cost effective that also have a reliable reputation regarding maintenance and safety. If a stereo system is important to you, include it or if you need to transport a large family, larger vehicles are a must. Set a maximum number of miles the car should have on it. Cars with more than 100,000 miles are more likely to experience problems unless the engine or transmission has already been replaced, but they are also usually less expensive to purchase. Set a maximum price range that you can afford.

    2

    Look through classified ads and auto trader publications to locate used cars for sale by private owners in your area. Classified ads online are another source of local sellers.

    3

    Call the sellers of cars that meet your criteria to set up a meeting to look at the car. Some dealers post ads to pose as private sellers so verify that each listing that interests you is indeed a private sale.

    4

    Examine the car for any signs of damage and take it for a test drive around the neighborhood and on a freeway. If the owner will not let you test drive the car, you should not buy it. Write down the car's features and any damage or worn components that you notice. Write down the vehicle identification number (VIN) and the mileage on the odometer to help you research the car at home. Also verify that the person showing you the vehicle is its registered owner.

    5

    Research the make and model through a resource like Kelley Blue Book to determine if the asking price for the car is reasonable. You can also find out if the specific model has a history of mechanical problems traditionally or if it is known as a reliable vehicle. Check the vehicle identification number (VIN) of the specific car to determine its repair history. There are several sites that will do this, and the fee is worth negating the purchase of a fraudulent vehicle.

    6

    Negotiate a price with the owner based on what you found out in your research. Most owners are somewhat flexible on pricing, but some may not be willing to alter their asking price.

    7

    Take the car to a mechanic for an inspection prior to making the final purchase. Have the mechanic give it a review and see if he recommends it as a well-conditioned vehicle. If he agrees it is in good shape, pay the owner for the car and have the owner sign over the car's title to you.

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