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What You Should Know When You Buy A Used Car
by Fraser Wheelock
http://www.fwcar.com

My dad used to refer to buying a used car as 'buying
someone else's headaches'. There's a good deal of truth to
his statement. When you buy a used car, you're purchasing
a car that has been used, and quite possibly abused, by
one or more owners. It may have mechanical problems, or
just be showing its age.

While each state has its own unique set of guidelines and
rules, there are some laws that apply across the board.
Those guidelines include rules about warranties and
disclosures that the dealer must make, as well as those
that he is not required to offer. Before you sign on the
dotted line to buy a car, you should:

Disclosures
Any used car dealer that sells more than six vehicles per
year is bound by law to make particular disclosures. These
include all major mechanical systems; any problems that may
be specific to the make and model of the vehicle; any
recalls by the manufacturer; whether the car is being sold
with a warranty or as is.

Another thing that you should know when considering a used
car purchase is the payment options available to you. The
basics are simple: are you paying the full price for the
car on purchase, or will you finance all or part of it?

You have a right to a clear statement of the price of the
car. If you are financing all or part of the vehicle's
price, you should receive a statement that breaks down the
cost into purchase price and finance charges to help you
make your decision.

Dealer Financing
Dealer financing takes a number of forms. Some dealers,
especially those who cater to lower income markets with
poor or little credit may actually provide their own
financing on the lot. The 'buy here pay here' dealers can
be a convenient option when your credit isn't good enough
to get a regular loan, but you need the car now. Be aware
that you're very likely to pay a far higher interest rate
than with a conventional loan. If you have no other options
though, it can put you behind the wheel when you need the
car.

You have a right to know the specific coverages that your
warranty gives you, and to have that warranty in writing.
A verbal warranty is virtually unenforceable, since there
is no way to prove objectively what was actually agreed
upon. If your dealer makes promises to repair problems
beyond the written warranty noted in the Buyer's Guide for
your car, make sure that the Buyer's Guide is modified to
reflect those promises.

Private sellers do not need to post a Buyers Guide, nor do
dealers who sell less than six cars per year. The Buyers
Guide should tell you if there is a warranty and what kind
of warranty it is. If you negotiate with a dealer for
coverage not listed on the Buyers' Guide, make sure that he
adds a note to the Buyers' Guide. In the event that the
contract you sign and the Buyers' Guide differ, the
conditions set out in the Buyers' Guide take precedence.

4. Understand the laws of your state regarding warranties.
If a used car is offered for sale 'As Is', the appropriate
box must be checked on the Buyers Guide. Connecticut,
Kansas, Maine, Maryland, Massachusetts, Minnesota,
Mississippi, New Jersey, New York, Rhode Island, Vermont,
West Virginia and the District of Columbia don't allow
As Is sales of used cars. At least three other states
require other specific disclosures. To find out what
warranties and disclosures apply to used car sales in your
state, contact your state Attorney General.

By knowing your rights and taking steps to protect them
when buying a used car, you can avoid buying 'someone
else's headache' and end up with a gem instead of a lemon.

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