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BUYING A USED CAR:
Is that Private Deal Really Cheaper?
Buying a car, whether new or used, is a major financial undertaking.
We hope the following information will help you make an informed decision.
Convenience:
| Buying privately takes a lot of leg-work. If the vendor
is truly a private dealer, selling a personal car, you have only that car
to look at. You can spend a lot of time and gas searching. |
There are a lot of options to consider. If you don't find the car
you want, the dealership will find it for you. |
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Financing:
| Buyer must pay whole amount or finance through
a financial institution. Financial institution will probably want collateral. |
Dealership can finance and will use the car you
are buying as collateral, leaving your line of credit open for other uses.
Interest rates are comparable to bank rates. |
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Liens:
| A lien search is the responsibility of the buyer. When
you arrange financing, the bank will do a lien search and you will be charged
for it. Keep in mind liens take from one to ten days to show up in the
central registry. If a lien does show up after you have purchased the car,
it is your responsibility to deal with it. |
All cars sold by a dealership have had liens searches done. Should
a lien show up after the purchase, the dealership assumes the responsibility
of either paying it off or refunding the buyer's money in return for the
car in question. All dealerships are bonded and assume full responsibility
for any outstanding liens should they slip through the system. Note: It
sometimes happens that a car from the U.S. or another province will have
a lien on it which has not shown up by the time the car is purchased. |
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Safety Certificate:
| Some used cars are required to have a safety certificate
when registered. Many private vendors have the car safety checked and will
provide that certificate with the car. If a safety certificate is not supplied
you can make that a part of your negotiation, or, you can get one yourself.
The safety certificate insures there are no leaks in the exhaust system,
the floor of the car has no holes, the brakes work, all lights work and
the steering is in good working condition. |
Used cars are put through the standard safety check and are also
checked for mechanical problems such as belts, ignition, transmission and
any other items that could affect the operation of the car. Repairs are
made where necessary to insure the car is in good running order. |
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Warranty:
| Unless the car is relatively new and has low mileage
and therefore has remaining factory warranty that can be transferred to
a new owner, there is no warranty option from a private individual. |
If the car is within six model years and has less than 125,000 kms.,
there is usually a basic warranty available. |
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After Sale Service:
| Your responsibility. |
The dealership builds its business on return business. They have
excellent service departments and if you talk to the sales rep who sold
you your car, he or she might be able to arrange a loaner while your car
is in the shop. |
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Buyer Protection:
If you know the individual from whom you are buying
the car, you have a good idea of whether that person is trustworthy. You
probably know a good deal of the car's history as well and can make an
informed buying decision.
If however the person is a stranger to you, trust your instincts.
If you have a bad experience, you will probably have to hire a lawyer to
straighten out any grievances. |
If you are unfamiliar with the dealership, you can call the Better
Business Bureau or the Department of Consumer and Corporate Affairs. Ask
friends about their dealings with a particular dealership. While not all
dealerships are created alike, there is a standard of ethics to which most
adhere.
Dealerships can't afford to lose customers or have their reputations
compromised by negative word-of-mouth. Every customer is a potential repeat
customer and a lead to new business.
If you feel you've been treated unfairly, you can go to the Better
Business Bureau or the Department of Consumer and Corporate Affairs to
lodge a complaint. |
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Note:
The much maligned used car car sales person spends a good percentage
of time looking after customers. Their customers are their bread and butter
and they will go to great lengths, sometimes even taking on the boss, to
see that the customer is satisfied. The worst thing that can happen to
a sales rep is to have a customer walk away unhappy, because not only will
that customer be lost to the sales rep but any referral business that may
have been provided will also be lost.
Is it cheaper to buy from a private seller? Many times it is, in
the short run, if you really know what you're doing and are prepared to
take any after sale risks.
But is it cheaper in the long run? Not unless you are a good mechanic.
If you are an average consumer, stick with the professionals. They know
their business and yours is important to them.
And here's the biggest reason of all to consider dealing with and
buying from the pros... If something does go wrong... you know exactly
where to find them.
You can e-mail us by choosing one of the
following options:
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