#buying used cars
Buying a Used Car
If you re in the market for a used car, consider the following tips.
Shop around to get the best deal. Check these sources:
- A franchised dealer that sells both new and used cars is a good source for customers willing to pay top dollar. The dealer saves the late-model trade-ins for resale, while the less desirable vehicles are auctioned or sent to wholesalers. Franchised dealers have repair facilities and often provide warranties.
- Used car dealers are a good source for older, higher mileage used cars. Some used car dealers do their own financing. While most used car dealers sell their cars as is, some are willing to provide limited warranties. If a warranty is offered, see if it is guaranteed by the dealer or by an outside party. (The dealer may be less likely to sell a problem vehicle if he is directly obligated under a warranty.)
- A contract is binding. Unless the contract specifically says otherwise, you can t cancel it once you and the dealer have signed it. There is no three-day right to cancel nor any other cooling off period. Make sure the contract states that you can void the agreement and get back your down payment if the dealer does not meet any part of the agreement.