Friday, November 9, 2012

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

Friday, November 2, 2012

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.