Thing No. 1 Check its papers.
Once you’ve isolated the
vehicles that fit what you’re looking for, do a quick search on the VIN
number. You can do this on any number of sites for free; http://www.dmv.com , carfax.com, vehicleidentificationnumber.com. The main thing you
want to achieve at this stage is to determine if the car is legit and
that they are providing a real VIN number.
Thing No. 2 Sign up for a carfax unlimited vehicle history report for $24.99.
Some people might argue that this is Thing No.
1A but it is different. Thing No. 1 you can do for free and you
will ditch any vehicles whose VIN numbers don’t come up with any
match. Then, you spend the 25 bucks and search on the remaining
contenders. An individual report is $19.99 so they really want
you to sign up for the unlimited and so do we.
Can you believe people still roll back odometers? Seems
so…analog. But, it’s actually easy as ever to do on a digital
odometer. A title check (or vehicle history report) will reveal
mileage numbers when the car has changed owners or been inspected in
any official capacity. That way, if you see a recorded
mileage number that’s higher than what the odometer currently
reads…bingo! It’s been rolled back. It will also reveal
whether the car has been involved in major accidents, natural disasters
and other stuff you will want to know.
Thing No. 3 Find out what it’s worth before you look at it.
Tell them you want to know all the options and the mileage plus any
damage to the interior, repairs that are due to be made etc. and when
it is due for the next scheduled maintenance (find out how much that is
going to set you back). Then, do your pricing research @ kbb.com, edmunds.com.
Thing No. 4 Look at the car during the day.
Turn
everything on: heater/air, radio, CD player…anything you can find and
ask about any noise you hear. Look for anything sloppy about the
paint job. Look at the engine. Even if you don’t know what
the hell you’re looking at, at least look to see if the wires have been
spray-painted. This will not only tell you that someone is trying
to pull the proverbial sweater over your head, but it will look
impressive. While you’re at it, back it out of where it’s parked and
look for leaks on the ground. Bring your pricing estimates and
the Vehicle History Report with you. Also, take a
friend. Two’s more intimidating than one, we always say.
Thing No. 5 Make sure all the VINs match.
Check doors, panels, hood and dashboard.
Thing No. 6 Shop around for financing.
If you’re getting
a loan for the car it will need to be less than 4 years old (you might
be able to stretch it to 5). Of course, you should shop around
for the best rate. A credit score of 680 should get you in the
game for the best rates (which are slightly higher than those for new
cars.) check equifax.com.
Thing No. 7 Uncheck the “as is” box.
If you buy from a dealer,
get all the promised repairs in writing. Do not sign an “As Is”
agreement with a dealer. This supercedes warranties. You
should get a 90 day warranty (at least 30 days) from a dealer, not an
“as is” agreement.
Thing No. 8 Remind the seller that the car is only worth what they can get someone to pay for it.
Just because the Kelley Blue
Book value says it’s worth $10,000, it’s only worth that if the seller
is willing to sit on it until they find the buyer who is willing to pay
it. The seller may very well prefer to cut his losses and take
less instead.
Thing No. 9 Use your negotiating points.
Maintenance
records – point out that without them, you have no way of knowing if
the car was maintained properly plus any mileage in excess of 12,000
per year is in beyond the scope of “normal wear and tear” depreciation
built into the pricing estimates. Does it include an extra
key? (Did you know that the going rate for extra keys at the
higher end dealers is $300?) You don’t have to be an ass-face but it’s
okay to make him feel like maybe he isn’t going to sell this car in a
hot minute and he might want to cater to this precious customer a
little bit.
Thing No. 10 Take it to a trusted mechanic.
Yours, not
theirs. He should put it up on the lift not just poke around under the
hood. If you’re really a nut, take it to the car wash and see if
it leaks.
Thing No. 11 Buy a warranty.
Private seller read here about
how to shop for one, carbuyingtips.com/warranty.
Thing No. 12 Transfer ownership.
The seller has to sign over
the Certificate of Title to you in the space provided. You’ll
have to fill out the new owner information and sadly, this will require
a trip to the dreaded DMV (you can make an appointment online). Go
to dmv.org and click on your state. State laws vary slightly so
you can check here for anything else you need to be aware of. dmv.org/title-transfers.
Thing No. 13 Do not hand over payment until you have the title in hand.
No excuses. If you accept his promise to send it
tomorrow, we can’t be seen associating with you anymore.
Thing No. 14 Pay With A Bank Draft.
Not
cash. Never cash. Who are you, Scarface? You want to be
able to prove you paid for the car.