Buying a car from a private seller can result in landing a great car for a much better price than would be offered by a dealer. A private seller does not have overhead and payroll costs associated with dealerships and may simply be looking for a sale price that will pay off his current loan balance. Buying from a private seller can, however, be tricky. Asking the right questions can ensure that the buyer receives a deal that he can live with.
Can I Have the VIN Number?
Asking for the car's VIN number will allow the prospective buyer to purchase a vehicle history report from a number of companies that details any accidents the auto has been involved in or any damage done to the car. The buyer will find out if the car has been damaged in a flood or totaled in an accident. The report will also show whether the car has a salvage title, which means that the car was reported as a complete loss by an insurance company. Buyers can also see if the mileage on the car is correct, or if the odometer has been rolled back to make it appear it has fewer miles.
Do You Have Maintenance Records?
Since many used cars do not come with the warranty that a new car does, the buyer should also ask for maintenance records. The maintenance records will show that the car has had the oil changed on a regular basis, has had the manufacturer's recommended maintenance performed in a timely manner and will show if there have been any major problems that the buyer needs to know about. If looking at a late model car that still has a warranty left, also find out if the warranty can be transferred to a new owner. If it cannot, negotiate with the seller to lower the asking price in order to cover the purchase of an extended warranty.
Why Are You Selling the Car?
In a lot of cases, the seller is looking to purchase something new or just doesn't need the car anymore. Asking why she is selling should not be a problem, and if the seller hesitates to answer, it may be a red flag. If there is a problem with the car that needs to be repaired, not only should the seller explain this, but it should also be reflected in the asking price. Trust your instincts when purchasing from a private party. If you sense they are hiding something, don't be afraid to walk away from the purchase.
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