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Buying Tips
Buying the right vehicle!
- You may be tempted to first find the vehicle you want, but does it fit your needs and meet budget? Use the Internet, buying guides, and consumer publications in your research.
- Ask yourself these simple questions:
What the vehicle will be used for?
Is the vehicle for city or highway driving?
How many people will I transport?
Is travel and fuel cost important?
Are safety features important?
How important is the vehicle style?
Buy or lease?
How much can I afford?
- When you buy a pre-owned vehicle it may still be protected by the manufactures warranty. Car dealerships offer certified used vehicles, which include warranties and maintenance programs.
- With manufactures warranties, certified pre-owned vehicles have most of the advantages of new cars, but you will save on average 25% on the price.
- With manufactures warranties, certified pre-owned vehicles have most of the advantages of new cars, but you will save on average 25% on the price.
- Another good reason to buy used is that insurance rates cost less.
- The cost of a vehicle is based on the make, model, year, kilometers, reliability, performance, condition and demand. The higher the demand, the higher the cost.
- With the Vehicle History Report, you can buy a used vehicle with more confidence. This report traces the history of the vehicle using the Vehicle Information Number (VIN). Most reports show registered owners, vehicle description, imported or not? Accident claims? Odometer reading (last reported) and if it has a salvage title (declared a total loss by an insurance company). Existing liens, in some provinces if the lien is not paid, the secured party (debt holder) can repossess the vehicle from the person who owes the money or from the buyer of the vehicle.
Are you ready?
- You should have a good idea of the vehicle you need, the price and how much you can
afford. Compare different models in the same class, ie, Dodge Caravan verses a Honda
Odyssey, or a Toyota Sienna. These minivans were build for the same market, but have
different feature packages at lower prices. - Narrow your search using the vehicle sale price not the monthly payments. Any monthly payments can be made to look affordable if you extend the term, but the cost of your loan will be much higher. Focus on the total amount financed rather than on a monthly payment. A car loan should not be any more than 36 to 48 months.
- Shop for financing rates before making any final decisions. You can finance through a bank, online lender, credit union or at a dealership. Know the difference between buying and leasing. Guide
Understand the general terminology of loans, ie fixed and variable rates. Know how finance rates are determined. Vehicle financing companies use different factors to determine the finance rate they'll offer you. A few financing factors are: your credit history, price of the vehicle, down payment, and term length. By being informed ahead of time, it gives you buying power. Finance - Your credit history affects the finance rate. It's a good idea to know what is on your credit report before you visit dealers. This gives you a chance to correct any errors on your report.
- Search for recall notices for the vehicle you are interested in. View manufactures website.
- Have questions ready for the dealer or private seller. i.e:
Are you the first owner?
How long have you owned it?
Why are you selling?
Are their any liens on the vehicle?
Is it a trade in? Lease returned?
Has it been in an accident?
Have any major parts been replaced?
Do you have the receipts for repairs and maintenance?
Are any repairs needed?
Are their any warranties left or is it "As-Is"?
Overall running condition?
Is there anything else I need to know?
- Visit your government service website, and know the requirements on buying and selling a used vehicle in your province. Research
Viewing the car!
- If you are setting up an appointment, try to set it up in the day time, hopefully not raining and give yourself lots of time. Keep a written record of your findings. ie: name, vehicle type, price, odometer reading, condition of vehicle, comments from the seller, etc. Carry this folder when car searching. Interview the seller on the phone before setting up an appointment. Compare the phone interview answers to the in-person interview answers.
- Do a thorough examination of the vehicle, interior and exterior.
- Here are samples of some exterior points to check for:
Check the vehicles' body and engine for rust, holes and damage.
Look for waves, ripples, roughness, different shades of paint, usually in open doors, trunk, hood or overspray on moldings, rubber window seals. This could mean bodywork has been done and the vehicle has been repaired.
Check for wear on tires. Bald tires need to be replaced. A bald spot is caused by an imbalance of the wheels or a suspension problem.
Check for proper fluid level, color and odor.
Check for cracks or wear on belts and hoses.
Check for oil leaks, coolant and radiator leaks.
Check for windshield cracks or chips.
- Here are samples of some interior points to check for:
Check for cleanliness.
Check comfort and safety for you and your passengers.
Wear and tare on upholstery, and carpets.
Check electrical features. ie, head lights, rear lights, signal lights, power windows, automatic doors, windshield wipers, entertainment system (radio, CD player, DVD player).
Check the heater and air condition.
- Be cautious of buying a vehicle that has had major repairs, ie: engine overhauls, transmission rebuilds, valve jobs.
Drive Test!
- The test drive should help you evaluate the condition of the steering, brakes, shocks, alignments and overall driving feel of the vehicle.
- Turn OFF the music to listen to any funny sounds, rattles and squeaks coming from the vehicle and inquire on what they are.
- Start the engine when the car is completely cold. Some cars have start up problems.
- Drive at different speeds and on different road conditions. Go on the highway and where you are planing to use the car, ie; steep hills.
- Accelerate from a stop, does the vehicle accelerate smoothly or revs between shifts?
- Check for the exhaust. Is it pumping out black or blue smoke. This could mean major engine work.
- Test the brakes. Check for smooth stopping which is good, squeaking or grinding indicate brake repairs
- Check the temperature gage. Is the vehicle getting hot too soon?
- Check for steering and alignment. Does the vehicle pull to one side? This could mean alignment, tires or suspension problems.
After the Test Drive!
- Were statements made by the seller during the phone interview or in-person conflict with your finding.
- Check AGAIN for engine leaks, smoke or any odor.
- Request to view maintenance records and ownership from the dealer or private seller.
- Request to take the vehicle to your mechanic or to a diagnostic center for a check-up before buying.
- Request for the Used Vehicle Information Package from the seller, (government services offices) required by some provinces.
- If you are considering purchasing this vehicle obtain a Vehicle History Report at this stage.
Negotiating!
- Decide before negotiating the highest price you are willing to pay.
- You may want to make a list of all defects and issues you found with the vehicle and use these in negotiating your lower offer.
- Make an opening offer that is lower than the asking price (the average asking price is usually 15% higher, depending on the vehicle and condition). Allow yourself room to comfortably negotiate the asking price based on the reaction of the seller.
- Don't be distracted or discouraged by a negative reaction. If this happens bring out any issues or report findings you found with the vehicle to justify your current offer or a new offer.
- When a price is reached take your time to read the purchase and or financing agreement in detail, and clarify any points you are not comfortable with.
- If you suspect a scam or fraud, check these links or call your local authority. Who should I contact? What should I do?
* Statements, tips or any suggestions are provided as information only. You should not act or rely on it without seeking the advice of a professional advisor. While Autodeal and Metria Corporation considers the information provided to be reliable it makes no representations nor warrants that the information contained is complete, timely, or accurate. Autodeal and Metria Corporation is not liable for any errors or omissions which may be contained in the information and accepts no liability whatsoever for any loss arising from any use of or reliance on this information.
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