I have an interesting story to tell regarding cars and the failed fantasies of car fanatics. The last month my neighbor Mr. Dinkins was in a soup. He wanted to buy a car to gift his son and daughter-in-law on their wedding day. But he could not find one that would suit his budget. His wife suggested he buy them a motorcycle but a wedding picture of a couple waving adieu on a motorcycle would have been a disaster, he thought. He thought of borrowing a neighbor's car for a day just to show off to the guests. But his misfortune caused the car to get damaged during the wedding day and he had to pay out a huge sum as compensation to his neighbor. The embarrassment he faced in front of his guests and the newly wedded couple was an added misery.
If you want to avoid what Mr. Dinkins went through, you can go for purchasing Classic Cars. Some of them are only 10 years old whereas others are many decades old. Investing in a used car is a wise decision. The costs incurred are much less apart from a few rehash jobs required. These cars are in working condition and with proper care and maintenance; they can give you a smooth performance for many years to come.
Monday, October 22, 2012
Other Costs Involved With Buying a Used Car
When buying a used car it is important to understand the total cost that you will be charged. Buying a new car would result in many additional fees that you may not be aware of, but will be forced to pay in the end. However, buying a used car is much smarter because you have full control over the "hidden fees" that a dealership would not tell you about. It's important to understand that when buying a used car off a lot there is normally no guarantee offered by the dealer. So, before you decide to buy a car it's a smart idea to dig a little deeper into the history of that specific car.
What Information Do You Need?
When buying a car from an authorized dealer you must receive some very important information before signing your name and taking over ownership. Unless you want to be left with a multitude of random fees, or even worse, a broken down car that has been in four accidents, you should get the following information from the dealer:
-Does the car have damages that amount to above $2000 to repair: A dealer is required to give you this information, and largely to your benefit. Purchasing a car that was in a major accident decreases the value and may result in additional repair fees that come out of your pocket. Depending on the accident, you should make sure there was no serious work done to the car that would result in additional charges to you within the first few months.
-Was the car ever used as a police vehicle, taxi, emergency rescue, a rental or leased vehicle, or even in organized races: A dealer is required to give you this information in writing because it's very important to the buyer. If the car was ever used as any of the above examples then it's value has decreased significantly.
Now that you understand a few factors that determine the actual value of the car, it's time to go over what charges you are expected to pay when purchasing a used car;
- Dealer Prep Costs: Before you arrive on the lot the dealer's staff has done significant cosmetic work to the car. They will make sure the car looks as good as possible for you, and in return you will most likely pay a small fee that is included in the overall price.
What Information Do You Need?
When buying a car from an authorized dealer you must receive some very important information before signing your name and taking over ownership. Unless you want to be left with a multitude of random fees, or even worse, a broken down car that has been in four accidents, you should get the following information from the dealer:
-Does the car have damages that amount to above $2000 to repair: A dealer is required to give you this information, and largely to your benefit. Purchasing a car that was in a major accident decreases the value and may result in additional repair fees that come out of your pocket. Depending on the accident, you should make sure there was no serious work done to the car that would result in additional charges to you within the first few months.
-Was the car ever used as a police vehicle, taxi, emergency rescue, a rental or leased vehicle, or even in organized races: A dealer is required to give you this information in writing because it's very important to the buyer. If the car was ever used as any of the above examples then it's value has decreased significantly.
Now that you understand a few factors that determine the actual value of the car, it's time to go over what charges you are expected to pay when purchasing a used car;
- Dealer Prep Costs: Before you arrive on the lot the dealer's staff has done significant cosmetic work to the car. They will make sure the car looks as good as possible for you, and in return you will most likely pay a small fee that is included in the overall price.
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