We have all been in the used car market trying to buy the best car for the least amount of money. We are constantly looking for a car that is under priced but is in immaculate condition. Once and a while we find that person trying to get rid of their car for an incredible price; is it to good to be true?
Beware! Many times if a car is priced so low there is a reason for it. Many times that reason is because there is something wrong with the car! Most times, it has been in a serious accident and the insurance company declared it as being totaled. You don’t want to buy this car no matter how cheap it is. So how do we tell if this is a good deal or a lemon? Let’s examine further!
The most obvious place to investigate is the title. If the car has been totaled or salvaged the title of the car will have that stamped on it. Therefore always ask the owner to see the title of the car while you are test driving it. If they are hesitant or if the title is at their brothers’ house this is sure warning sign so beware!
Also many times the owner will have a new title issued for their car. This is also a little fishy to me. Many times people loose the title on purpose so that they can eliminate the “Salvaged” stamp on the title, or to hide how many miles that the car actually had. If this is the case and you are unable to tell if the car has been in a serious wreck by looking at the title then proceed to the following tips.
When I was younger I can remember buying a truck that was a lemon! I didn’t take the proper precautions and I lost some money in the deal. I was suspicious of the truck from the beginning. The miles were extremely low for the amount that the seller was asking for. I wanted the truck though, so I just listened to the words of the seller, “it is a little dirty, that is why it looks so used”. I know, I know, I should have walked away right then. Used, really used, normally equals lots of miles. But as I said, I was fooled in the desire to have a new truck.
I enjoyed it and it worked just fine for what I needed it to do. Two years time had passed and I was ready to sell it and get a sportier car. I listed the truck in the paper and hoped to get more then what I owed the bank. The first possible buyer really liked the truck and agreed to buy it. He took the VIN and told me he would bring a check within 2 days time. I was so excited!
To bad the excitement didn’t last very long! Later on that night this gentleman called me back and asked to get out of the deal. I was a little shocked as I didn’t know why he would have wanted out of such a good deal. He went on to tell me that he went online and checked the VIN of my truck and he found that it actually had 100,000 more miles then what was on the odometer. Was I shocked you might ask? Yeah, and mad also. I owned a truck that wasn’t even worth what I owed on it just because I didn’t check it out before I bought it.
What did I do? I lowered the price and told people that I wasn’t for sure about the miles. Basically “buyer be ware, and buy at your own risk”. I didn’t get nearly the money that I wanted for it and it took much longer to sell than I had wanted. Oh well, I learned a very important lesson that day, one that I will never forget!
If you are suspicious about the car that you are interested in buying check the VIN out online. It might cost you a small fee but it is well worth it. It might save you thousands of dollars in the future.
So, remember this as you continue on your used car search. If you find a deal that is to good to be true, then it normally is! I’m not saying that you can’t find good deals, but these deals normally come from someone that you know and can trust. Not from an ad in the paper. I hope that you do find your dream car, and happy hunting!
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