The Hidden Risks Lurking in Your Used Car Purchase — And How to Avoid Them
Purchasing an older model is another rationalization for stretching every buck, bypassing depreciations, and achieving bang for your buck. But hindering the way of the new car’s sparkling finishes and bargain price is the dirty underbelly of the used car that will cost you your arm and leg. Where you purchase – dealer, private sale, or off the net – keep your wits about you for what is likely to be lurking under the bonnet and how to protect yourself.
1. Uninsured Flooding or Accidental Damage
One of the biggest inherent risks of purchasing used is pre-purchase damage — i.e., from wrecks or floods. Some car lots would go to any lengths to conceal the history of a damaged car from appearing on by practicing cosmetic repair so that they never even think about the underlying damages. Flood cars, for instance, may look like new but have sub-continuous underlying electrical malfunctions, mold, and rust.
How to avoid it: Always request a full car history report from sites such as CARFAX or AutoCheck. The reports expose hidden wrecks, flood titles, insurance claims, etc. Furthermore, have the car inspected by a professional mechanic before buying to determine if it is water-damaged or sloppily repaired.
2. Odometer Fraud
It is illegal to odometer-back an automobile to conceal that it has fewer miles, but it is being practiced. Individuals and dealerships use dated electronic odometers to fake it with ease, and thus otherwise low-mileage vehicle can’ve accumulated tens of thousands more miles than the odometer shows.
How to avoid it: Check odometer reading against vehicle reading on the history report. Look for wear on seats, steering wheel, and pedals; on a “low-mileage” vehicle, be careful. Your mechanic may also compare if mileage appears correct for what the car is like.
3. Title Washing
A. A. wrecked. car. by. an. insurance. company. could. in. some. instances. be. titled. a. salvage. vehicle. Scammers complete this title with nothing by titling the vehicle in title-for-title states, which will not indicate that it was crashed.
How to avoid it: Again, there has to be a complete vehicle history report. It will indicate where the vehicle was originally registered and whether it was branded salvage or rebuilt or not. Avoid cars that were making frequent trips in and out of states within a short time period.
4. Outstanding Liens
If you owe the lender on the vehicle, the title can be liened. What this really means is that you will not even have the vehicle when you buy it — and the vehicle will be taken away from you.
How to avoid it: Check title for cleanliness prior to purchase. Get papers to ensure lien was satisfied. Title status can be purchased online or from your state DMV in most states.
5. Failure to Keep
Used vehicles will be rolling off lots with holes in them as their calling card — perhaps but not so much for the same reasons that oil never had a hope of being replaced on a regular basis, or transmission fluid never had its flush. Holes somewhere down the line are going to be paying the price for mechanical failures that won’t be having their mug shot on a short test drive.
How to avoid: Ask service record. Serviced car will be serviced for brake service, for oil change, for tire rotation, etc. If they have no record, take worst case and bargain for that or go.
6. Stolen Cars
Even they used to sell hot stolen cars at the black market as second hand vehicles, though it is not a trend. If you purchase a vehicle unknowingly and you even don’t realize that the vehicle is stolen, then the police will confiscate the car from you and you won’t even recover your money.
HOW TO PREVENT VIN comparison on all vehicle parts and title and repair history Free search on NICB or National Insurance Crime Bureau website if stolen or otherwise.
7. Curbstoning
Curbstoners deceive the fictitious private sellers dealers selling automobiles that have adverse or unlawful backgrounds. Curbstoners get rid of the automobiles fast without selling the customers the most essential facts and do not adhere to conditions of licensed dealers required by law.
How to avoid it: Avoid multi-car dealerships or no fixed address dealerships. Make sure that you get to see what ID name is on the seller’s title, and do not buy from a dealer who will not allow you to get up close and personal with the car.
Tips to Stay Safe When Buying a Used Car
Dealing with franchised used car dealers or certified pre-owned dealers. Avoid dodgy Internet ads that are brief on details.
Mechanic inspection: Have it inspected by a mechanic for free and possibly save you thousands of dollars with defects beyond naked eye.
Don’t rush: If owner or too good to be true is pushing you along the road to sign on the line, don’t.
Sign it all: Seal the deal with legitimate `bill of sale`, clean title, and signed agreement.
Final Thoughts
It needn’t be a whim-purchase completely-just a shot. Although finding secrets, doing ownership verification and finding the history of car, you aren’t surprised and drive off without any problem. Remember sweat and effort of detective purchase on your acquisition of classic cars tenfold trouble-free possession and reliability.