Whether you're buying from a dealer or privately, make sure any used car you're thinking of buying is in fact what the seller says it is.
• Sometimes dealers pretend to be private sellers. When phoning about a car you’ve seen advertised as a private sale, ask: ‘I’m phoning about the car you have for sale.’ If they ask: ‘Which car?’ be on your guard.
• If buying privately, arrange to view the car at the seller's house – this way you can be more certain the car is not stolen.
• Pay for a vehicle history check to see how many owners the car has, if there is any outstanding finance on it, if it has been written off, etc. It is vital that you carry this out before deciding if it is the right car for you.
• Compare the data from your research and the V5C (the vehicle's logbook) to the car itself – make sure it all matches. If it doesn’t, you could be looking at a stolen car.
• Ask the seller questions about their time with the car, why they are selling it, and check that they are the owner, or that they have the owner's permission to sell.
• Examine the service history, and note the locations of the garages who have carried out work. Does this match the rest of the car's history? Also, check invoices to see if any other work has been carried out.
Sunday, March 22, 2009
Wednesday, March 4, 2009
How to Avoid Car Trade-In Scams
Unfortunately, many car dealers still use trade-in scams to maximize their profits on each deal. By being aware of the more common of these scams, you can save yourself thousands of dollars, or help yourself simply avoid unscrupulous car dealers altogether.
Step1
Avoid car trade-in scams where the dealer says he will pay off your current lease or loan, no matter how much you owe. Remember that a lease or a loan is a financial contract, and there is no trick to eliminating one when buying a new car. Since this supposed "deal" will only end with you making even higher monthly payments on your new car, it's best to simply wait until your car is paid for, or your lease has expired.
Step2
Watch out for car dealers who conveniently forget to pay off your trade-in after the deal is complete. Many new car buyers are shocked when they receive notices for a collection agency a few months down the road because the dealer never handled the transaction as promised. Again, you can avoid this trade-in scam by ensuring that you get all pay-off documentation in writing, or simply wait until you vehicle is paid off before you trade it in for a new car.
Step3
Have your trade-in inspected by an independent mechanic in order to avoid car dealers who report "all sorts of problems" with the vehicle. By providing independent and recent documentation, you can effectively refute a dealership mechanic who claims your brake pads are almost gone, or that your engine may need a complete overhaul before it can be resold.
Step4
Obtain a copy your current credit report to avoid trade-in scams where the dealer tells you that you are ineligible for lower interest rates due to questionable credit scores. This scam is actually quite common, but it is easily discouraged once you produce a real credit report. Remember, no car salesman should ever know more about your credit score and financial history than you do.
Step5
Leave the dealership whenever you feel that you might be the victim of a scam. Don't try to beat the dealership at the game, since the salespeople have more experience at this than you. Simply walk away, and find a reputable dealer who will appreciate your business.
Source: http://www.ehow.com/
Step1
Avoid car trade-in scams where the dealer says he will pay off your current lease or loan, no matter how much you owe. Remember that a lease or a loan is a financial contract, and there is no trick to eliminating one when buying a new car. Since this supposed "deal" will only end with you making even higher monthly payments on your new car, it's best to simply wait until your car is paid for, or your lease has expired.
Step2
Watch out for car dealers who conveniently forget to pay off your trade-in after the deal is complete. Many new car buyers are shocked when they receive notices for a collection agency a few months down the road because the dealer never handled the transaction as promised. Again, you can avoid this trade-in scam by ensuring that you get all pay-off documentation in writing, or simply wait until you vehicle is paid off before you trade it in for a new car.
Step3
Have your trade-in inspected by an independent mechanic in order to avoid car dealers who report "all sorts of problems" with the vehicle. By providing independent and recent documentation, you can effectively refute a dealership mechanic who claims your brake pads are almost gone, or that your engine may need a complete overhaul before it can be resold.
Step4
Obtain a copy your current credit report to avoid trade-in scams where the dealer tells you that you are ineligible for lower interest rates due to questionable credit scores. This scam is actually quite common, but it is easily discouraged once you produce a real credit report. Remember, no car salesman should ever know more about your credit score and financial history than you do.
Step5
Leave the dealership whenever you feel that you might be the victim of a scam. Don't try to beat the dealership at the game, since the salespeople have more experience at this than you. Simply walk away, and find a reputable dealer who will appreciate your business.
Source: http://www.ehow.com/
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