I started writing so as to inform the public on how to buy new or used cars. I also wanted the public to know new vs. used or when to lease. First of all, stay away from lease. I have been in the automobile industry for over 20 years in retail and wholesale for the past 10 years and I am still puzzled why people choose to lease a car for three years and still owe the same amount to buy the car when the lease expires.
IE, David takes a three year lease on a car and puts $2500 down with payments of $250.00 a month which equals $9250.00. Ok you with me so far? David likes the car and decides he wants to buy at lease end and the dealership tells him he can buy the car for $17,000.00 with used miles and all! Keep in mind that this is a normal transaction at most Dealerships. So if David decides to complete this purchase, it will cost him $26,000.00 for a three year old used car which more than likely three years ago cost $14,000.00.
I have come to the conclusion that most people lease cars because they can`t afford to buy or they have way more money than I do! This is just one article in many to keep the public informed on smart car buying. Besides, the industry has been very good to me. How else could I afford to live in a Million Dollar House and drive nice cars.
Here are a few suggestions you should follow when purchasing a car.Know the car’s market value
Be suspicious of a vehicle priced significantly below market value. If it sounds too good to be true, it probably is.
Obtain a vehicle history report
A vehicle history report can provide useful information, such as who holds the title to the car and whether the car has been in an accident reported to authorities. You’ll also find out whether the car was ever reported stolen, salvaged or damaged.
Inspect the car
Schedule an inspection with a professional mechanic or an inspection service if the car is not in your area. An early inspection can help you identify problems. However, keep in mind that an inspection isn’t a warranty and won’t guarantee a car is free from defects or that inspectors have identified all existing problems.
Confirm contact information
Before you send payment, verify the seller’s street address and phone number- an email address is not enough. ZIP codes, area codes and addresses should match up. Be wary if the seller is located overseas.
Get a detailed receipt
Ask the seller for a receipt that states whether the vehicle is being sold with a warranty or “as is.”
Get title to the vehicle
Make sure you know what’s required in your state to transfer title to the vehicle you’re buying.
Your coments are most welcome.
copyright@2006/03/05 by David Bowie
David Bowie has been a Reconditioning Manager the worlds largest wholesale Auto Auction for the past 10 years. He also found the need to educate the public in car buying . David Bowie opened his buy now Auction House Feb.2006 located at http://www.davidbowiesnightlife.com
