Negotiating the Deal
Whether you buy from a private owner, or a used car dealership, negotiating is part of the buying process. Most people – dealers included – ask more than what they expect to get for the car in the hopes that someone will come along and pay the listed price, or to allow themselves room to negotiate if needs be. Expect to negotiate for 10 to 25 percent less than the listed price of the car if you can, and even more than that if you are buying from a car dealership who will take in your used car as a trade in vehicle.
Legal Aspects and Returns
The big question that most people ask when considering buying a used car is whether they can return it if it breaks down. This is a complicated question which depends upon a few different things. The first thing that you need to understand is that if you buy a car from a private owner, you are not afforded the protection under the law that dealerships must adhere to. However, even if you buy a car from a dealership they may have no obligation to ensure the car will work after you take it off the lot either. This all depends on what is called a used car buyer’s guide, and it will generally be posted in the window of every used car on the lot.
For instance, the dealer may mark the car “As Is” which means that if you buy the car, and it breaks down one block from the car dealership – you may be out of luck. It is vital that you have As Is cars checked by a third party mechanic before you buy. The Buyer’s Guide will show any contractual provisions that the dealer is offering with the car, and any warranties that you get when buying the vehicle. It is important to note that in some states there is what is called a recision period, in which the dealership must take a return if requested within three days of the sale date. However, each state varies and your best bet is to thoroughly research the laws regarding returns on used vehicles in your area.
Warranties & Service Agreements
On some vehicles, you may have warranties and service agreements that come with the car, depending upon how new the car is and the dealership that you are going with. These warranties and agreements should be listed on the buyers guide. Never, ever take a dealer’s word for something. Make them list it on the contract before you buy or they have no legal obligation to honor it. Although used car dealers had a reputation for being crooked in decades past, today, most are pretty honest. However, you should always protect yourself by getting everything in writing. That includes promises from a private seller as well.