Top 10 Used Car Buying Myths, Mistakes, and Pitfalls

Any one of the following “Top 10” items can cause a financial nightmare when purchasing a used vehicle. Be sure you know and understand how the used car industry works before you buy any used vehicle from an individual, dealer or a certified pre-owned.

#1)  Pre-Purchase Inspections 
The #1 reason vehicles with existing problems are purchased is the buyers' inability to determine the current condition before purchase. Pre-purchase inspections (PPI) requires testing and evaluating of every mechanical, electrical, body and frame system of the used vehicle. However, there is no pre-purchase inspections standards and there are significant differences between Automotive Technicians performing PPI. Today’s vehicles are so complex that most Automotive Technicians become ASE Certified in just a couple of 8 general automotive testing areas. However, only an ASE Master Certified Technician is qualified to properly test and evaluate all 8 mechanical and electrical automotive areas. In addition, used car buyers will need an independent Body & Frame Specialist to uncover any previous accident and/or frame damage.

#2)  Carfax or Other Vehicle History reports 
A vehicle history report cannot inform the used car buyer of any existing or potential mechanical or electrical problems, or the quality of any previous repairs, including any accident repairs.  Vehicle history reports do not report all accidents.  Carfax & AutoCheck have admitted that there are thousands of accidents each day that never get reported to their database.  Only a Body & Frame inspection performed by a Body & Frame Specialists can determine if the vehicle was in an accident, the extent of the damage, and the quality of any repairs. Please read the “7 problems” with vehicle history reports that Carfax or AutoCheck don’t tell their customers

#3)  Certified Vehicles 
There is no quality standard or inspection standard for "Certified" or “Certified Pre-Owned” vehicles.  Any certifications, inspection standards, and warranties vary greatly from dealer to dealer.  As with any warranty, used car buyers must know what systems are covered, and NOT COVERED before purchase.  A professional pre-purchase inspection is still required to determine any existing problems that are not covered under the limited warranty and any problems missed by the dealer’s cursory inspection.

#4)  Used Car Values 
There are many web sites and publications that give used car values.  Normally, these pricing guides and web sites calculate used car prices based upon current sales plus additions and deductions for items including optional equipment and excessive miles. However, these web sites and publications cannot give accurate deductions for the true mechanical condition of the vehicle.  Only a professional pre-purchase inspection can discover any needed repairs, abuse, and previous accident damages.  The true value of a used vehicle is the book value minus any needed repairs, abuse, or previous accident damage

#5)  Frame Damaged and Flooded Vehicles 
It is estimated that 1 in 14 vehicles on the road today are rebuilt from salvage and that 40% of all frame repairs are substandard.  Used car buyers will need a professional pre-purchase inspection by a Body & Frame Specialist to determine the extent of any accident damages, and the quality of any repairs. Many frame damage and flooded vehicles have clean titles and were never reported to the DMV, Carfax or AutoCheck

#6)  Odometer Fraud 
It is estimated that 1 in 4 used vehicles have odometer discrepancies. A professional inspection should determine if the wear and tear on the vehicle is consistent with the odometer reading. Vehicles with altered miles or abnormal wear and tear will be worth much less than the book value.

#7)  "AS -IS" Document 
Buyers are required to sign the "AS-IS" document when purchasing a vehicle from a used car dealer. The “AS-IS” document has 2 check boxes, “AS-IS No Warranty” and “Warranty”. If the warranty box is checked on the document, be sure you understand what is covered and for what length of time .You always have the right to have the vehicle professionally inspected to determine the true condition before purchase. Buyers usually have little or no rights after the sale.

#8)  Automatic Warranty 
Many used car buyers have a belief there is some sort of automatic warranty when purchasing from a used car dealer. However, dealers (and individuals) are not required to give any type of used car warranty. Any warranty must be in writing to be enforceable and most warranties are limited to certain parts or systems of the vehicle.  Used car buyers must understand what components and/or systems are covered, AND NOT COVERED, and for what length of time.  Most are very limited warranties covering just the drive train and not the majority of the mechanical and electrical systems. Warranties do not cover any problems caused by previous accident damage.
  Note: A used vehicle might have some remaining factory warranty. This is different from a warranty given by a used car dealer.  Vehicles with remaining factory warranty should be inspected for previous accident damage and abuse by the former owner(s), which may void the remaining factory warranty

#9)  Take Back Period 
Many used car buyers still believe there is an automatic 3-day take back period, or they can take it back if they have not made the first payment.  There is no such law or protection.

#10)  Used Car Lemon Law 
There is no Lemon Law for used vehicles in most States. Buyers assume that since there is a new car Lemon Law protecting consumers, that there must be a used car Lemon Law. It is the buyers’ responsibly to determine the true condition of the vehicle before purchase.

http://usedcarinspections.org/top10.htm

Some tips to extend the life of your car

7. Choose a good car insurer

Sometimes, no matter how careful you are, disaster inevitably strikes — typically in the form of an accident. Make sure that your car will be repaired to the best possible standard by finding an insurer that will pay for parts from the original manufacturer and guarantee the repairs it authorizes.

8. Keep an auto log

Keep a pad and pencil in the glove compartment and use them to record your gas fill-ups and mileage. If you notice that your gas mileage worsens, mention it to your service man. It may be an early warning sign that something is wrong with your car.

9. Preserve your car during long-term storage

If you are not going to use your car for more than a month, store it properly to prevent unnecessary damage and repairs upon your return.

• Fill the gas tank to help prevent condensation from accumulating in the gas tank. Add a fuel stabilizer and drive the car around a bit to distribute the additive to engine parts.
• Wash and wax the car thoroughly to protect the finish.
• Place a vapor barrier on your garage floor. A 4-mil polyethylene drop cloth will do.
• Disengage the parking brake to help avoid brake corrosion.
• Put the car on jack stands to take the weight of the vehicle off the wheels and tires.
• Disconnect and remove the battery to keep it from draining. Place the battery on a trickletype charger. Or periodically drain the battery, using a small light bulb, and then recharge it with a low-volt charger.
• Plug the tailpipe with a rag to prevent moist air from infiltrating into it.

http://www.rd.com/advice/saving-money/74-car-care-tips-to-keep-your-automobile-in-topnotch-condition/

Why Winter is a Smart Time to Buy a New Car

When the snow flies, buying a new car might be the last thing a lot of people are thinking about doing; but, this is the number one reason why you should hit the dealers and look for a new ride. Buying a new car in the winter has a number of benefits – and with saving money at the top of the list, there is no reason to wait until spring to shop.

Winter Car Shopping Could Save You a Lot of Money

As with most things, there is an off season for purchases and winter is commonly a time when fewer cars are purchased; especially certain types of cars. Sports cars, convertibles and other cars that are considered summertime vehicles will often sell for less during this season because fewer people are in the market to buy them. Even family cars can sell for better prices in the winter since fewer people are shopping.

Early in the winter season, dealers are often trying to clear last year’s models off the lot. New models tend to arrive during the late summer and early fall, and whatever is left of the previous year’s models will go for a discounted price as the weather turns to winter. Dealers will be more willing to strike a bargain to move an older model.

Minimize Your Time in the Cold: Get Online

With fewer people shopping for a car in the winter, you can browse in peace and take plenty of time comparing models and test driving. To make your time out car shopping even easier, narrow down the list of cars you would like to look at – using websites such as wheels.ca, carguidecanada.ca or autocatch.com. You can research models and see what is available in your area. When you arrive at the dealer, you will already know what you want to test drive. To find other ways you could save, check out leasebusters.com, where you can look at cars whose owners are seeking a lease transfer or want to sell a car and transfer the payments on their loan.

You can also get car insurance quotes online to compare the insurance rates on the cars you are considering; this will help you to know what the cost owning each of the cars you are considering will really be.

Before you arrive on a dealer’s lot, you can be armed with knowledge about car insurance rates for the cars you want to look at and a good idea of what that car is selling for elsewhere; this gives you negotiating power. In the winter months, with fewer cars selling, you will find dealers much more willing to work on a great price.

Winter Ready Right Off the Lot

You may save money on your insurance premium if your car is equipped with winter tires – be sure to check with your insurance provider. Also, consider having winter tires put on your new car when you purchase it to qualify for a discount. You might even save on the tires if you purchase them through the dealer as part of the new car package.

Before driving your new car home make sure you have the right antifreeze; if the car has been on the lot a while it might not have been winterized. Ask the dealer to take care of winterizing the vehicle properly before you head home. Since you are already in a good position to negotiate, having things like this thrown in as part of the bargain is more likely in the winter.

Winter car buying has a lot of perks; more room to negotiate, less competition for the cars and fewer crowds at the dealerships. And the down side of car shopping in the winter – time spent in the cold looking at car after car – can be minimized with preparation done right at home from your computer. By comparing prices and models and getting car insurance quotes online before you head out you can spend less time in the cold and focus in on the right car for you. In the end, you could wind up with a much better deal than at any other time of year, making winter car shopping a smart choice all around.

http://www.insurancehotline.com/winter-is-a-smart-time-to-buy-a-new-car/#

Five Financing Tips for U sed Car Buyers

While the great recession continues its slow way to recovering a bright spot for consumers is that lenders are beginning to lend money for car buyers. While the American made new car market especially is growing, many folks have been scared by economic hard times and have damaged credit ratings. For them, it is probably easier to buy a used car.

Sure, the interest rates will be a bit higher, but the amount of the loan will be lower, so on balance, you can afford and finance a nice used car. It is important though to bear in mind that financing a used car through an auto dealership (used or new car dealer that sells used cars too) is far easier than trying to finance a car that you buy privately.

If it has been a while since you have made a major purpose remember to use credit wisely.

Tip 1: Set a budget before you visit a dealership. Most personal financial experts think that the maximum monthly expense for a car should be 18 percent or less of your take home pay. That should include not just your car payment, but gas and insurance too.

Tip 2: Do a credit check. You are entitled to a free annual credit report from each of the following credit bureaus:

• Experian
• Transunion
• Equifax

If there are any discrepancies in your credit reports fix them, if you owe any money pay the debt and then design a strategy for dealing with the lender over any negative information in your report.

Tip 3: Get a pre-approved loan. This allows you to focus on your negotiation for the car without the distraction and anxiety of knowing that you also have to negotiate a loan. As a buyer, you know in advance, what you can afford – and with a preapproved loan in your pocket, should the dealer offer to finance you know at once if the rate is good. Car buyers who will be borrowers with poor credit can avoid rejection by shopping for a loan before they go car buying from a sub-prime lender. These lenders are now getting back into the auto-financing arena. Search online for the best rates.

Tip 4: Make a 20 percent down payment.  A down payment of 20 percent will keep creditworthy buyers safe from becoming upside-down on their car debt. This occurs when you owe more on the car than the car is worth. Subprime buyers will have to put down 20 percent in order to maximize the likelihood of obtaining financing.

Tip 5: Perceptive buyers will save for the down payment. Getting a personal loan to make the down payment means higher monthly costs. If you have trouble qualifying for a loan but are sure that payments will not be a problem then having a qualified co-buyer can enhance your chances of being financed and the rate may be a bit lower.

A few words of caution: never leave cash deposit on a used car, if you decide against buying you may not get it back. Always get a Carfax report and have the car checked out by a qualified mechanic before you purchase.

http://www.primerates.com/five-financing-tips-for-used-car-buyers/

Myth: Engine oil should be changed every 3,000 miles

Despite what oil companies and quick-lube shops often claim, it's usually not necessary. Stick to the service intervals in your car's owner's manual. Under normal driving conditions, most vehicles are designed to go 7,500 miles or more between oil changes. Changing oil more often doesn't hurt the engine, but it can cost you a lot of extra money. Automakers often recommend 3,000-mile intervals for severe driving conditions, such as constant stop-and-go driving, frequent trailer-towing, mountainous terrain, or dusty conditions.

2005 BMW X3 3.0i in Watauga TX from Jeno Autoplex Inc.

Stock : D06906 VIN : WBXPA93485WD06906 SALES PRICE : $14,995 Exterior : Blue Water Metallic - (Silver)   Interior : Terracotta Leather Mileage : 81,472 Fuel : Gasoline MPG : 17 City / 25 HWY Transmission : Automatic Drive Type : All Wheel Drive Engine : 3L Straight 6 Cylinders : 6 Horsepower : 225 @ 5900

Car Maintenance Mistakes

Compared to the family trucksters of a generation ago, modern cars require about as much maintenance as a toaster. This is a real liberation from the oil, lube and tune merry-go-round that ruled not so long ago.

Curiously, many people haven't adjusted their thinking to keep pace with new car maintenance schedules. The preoccupied still run their daily drivers without service until the dash warning lights burn out, while over-achievers fret about running synthetic oil more than 2,500 miles without a change.

Although maintenance intervals are now more widely spaced, even the newest cars require scheduled service to live long, productive lives. Whether yours is the latest model or you paid it off years ago, the trick is giving your car the maintenance it was designed to receive.

Surprisingly, the answer to what maintenance is required is hiding no farther away than the glove box. Every car is supplied with a maintenance schedule — in the owner's manual or in a separate maintenance log book — that details that vehicle's needs.


Proper Tire Inflation and Rotation

Tires leak naturally and need the occasional check. Figuratively speaking, underinflated tires suck up gasoline. Under- or overinflated tires wear out sooner, and deliver the same emergency maneuver handling as marshmallows. You probably aren't going to check tire pressures monthly, but how about twice a year?

Furthermore, front and rear tires wear differently and should be rotated to even that wear. Your owner's manual will have a recommendation on both pressure and rotation periods.


Tune-Up Anachronism

There are no more "tune-ups." Valves no longer need adjusting, ignition timing is computer controlled and there are no carburetors to fiddle with. About all that's left of the old tune-up drill are the spark plugs. These are often good for 100,000 miles, so don't change parts just to change parts. Instead, save up for those big 60,000- and 120,000-mile services when the timing belt, spark plug wires and coolant are due for replacement.


Oil Change Timing

Oil changes every 3,000 miles used to be required jobs, just like cleaning the accumulated fuzz from record player needles or defrosting freezers. Today, advances in engine design and lubricants make oil changes something to be done when the schedule calls for it, not when granddad says it's time. Some cars call for 5,000-mile change intervals, some up to 15,000-mile stints. Others have a variable timer. Follow the schedule and use the oil called for by the manufacturer.


Tired Tires

Tires wear out, but they also time out. The tire industry says tires are toast after five years, but they're selling tires. It all depends on heat, sunlight and ozone conditions. There's little argument from any pundits that after seven years those black donuts are dried and better off holding down a farmer's tarp than carrying your family around. If you're not sure how old your tires are, a tire shop can read the date code stamped into the sidewall.