Before you buy a used car, there are several things you will need to check first. Nobody wants to end up spending hundreds or even thousands of dollars unnecessarily. As such, when you find a car that you want, you need to check the following five things before you sign any contracts.
Look Over Your Contract Carefully
Never trust that your salesman will tell you everything included in your contract. It is essential that you read the entire contract before you sign it including all of the small print. Unscrupulous salesmen are fully aware that most people do not read small print.
As such, they often include several hidden charges. You will also want to make sure that you do not leave any blank spaces after you fill out your contract. Dishonest salespersons could fill these out after you complete the sale. Make sure that you put a slash or write NA on any blank spaces.
Find Out What Extras Are Included
Of course, you will want to find out what extras will be included in the car you purchase. Some of these you may want; however, some you may not want or need. Extras can include such things as extended warranties, fabric protectors, rust proofing, car alarms, paint sealant and window etching.
Extras can add hundreds or thousands of dollars to the price of cars. While some of these extras may be things you like, others may simply seem unnecessary to you. If you do not want all of the extras included in your car, have them taken off or look for another car.
Do Not Overpay For Administration Fees
The government has required that car dealers add administration fees to the sales of their vehicles. These fees cover such services as duplicate titles, 30 day tags, vehicle ID verifications, title addendums and more. A reasonable administrative fee, as of 2013, is around $150.
Unfortunately, some salesmen have a tendency to charge much higher fees in an effort to get higher profits. In fact, some dealers have been known to charge as much as $500 or more in administrative fees. With that said, always check how much you are being charged for these fees and refuse to overpay.
Check Your Car Transfer Disclosure Statement
Whenever you buy a car, you should receive what is called a car transfer disclosure statement. This is a document that details the sale of the car in question. It should include the negotiated price of the car, the trade difference if applicable, the price of any extras, and the grand total.
This document should go into detail about all of the charges pertaining to the car and any extras included in the price. You will be asked to sign or initial this paper as proof that you understand each item. Make sure you look this paper over carefully and ask any questions you may have.
Consider Additional Costs
Whenever you purchase a car, there are more costs than just the purchase price and dealer’s fees. You will also have to pay such things as car registration, tags, vehicle taxes, auto insurance, maintenance and fuel. While a used car may cost less than a new one initially, there may be more maintenance and fuel costs involved.
On the other hand, car insurance and taxes are typically cheaper for older cars than they are for new ones. When you go to a car dealership, make sure you are prepared. You can protect yourself from paying too much for your car if you simply know what to check for before signing any paperwork.
Paula Trimble has purchased many used cars in the past and knows the importance of what should be looked over before you commit to a purchase. When it comes to quality service, Paula always recommends Menzies Chrysler 1602 Champlain Avenue Whitby, ON L1N 6A7 (905) 683-4100. Menzies provide the best quality new, pre-owned and used cars Oshawa and Whitby can buy! Visit us today to find out why!