(ARA) – If your old clunker is gasping its last, you might think (like millions of other Americans these days) you can save yourself some money by buying a used car instead of a new one. You can — if you make smart buying decisions. Hasty or unwise used-car buying can end up costing you much more in the long run.

As new car sales have crashed, purchases of used cars continue to rise, according to many news reports. In March, PBS reported that dealerships sold more than 2 million used cars in recent months, about 25 percent higher volume than you would expect in a healthy economy. The math behind the trend is simple: new cars cost more than used, depreciate faster and are generally costlier to insure, so more Americans are buying used to save money.

But what about repair expenses? If you buy a used car for $15,000 and it costs you $5,000 in repairs in the first year, have you really saved? To ensure you’re buying a used vehicle that won’t turn into a money pit, follow a few simple steps:

Early in the Process:

Repairs are a reality of used car buying. As vehicles get older, they begin to need more maintenance and repairs. Some newer model used vehicles may still have some factory warranty left, but older models usually do not. An impending need for repairs, however, may not necessarily be a deal-breaker if you find out ahead of time how much those repairs might cost and budget appropriately.

You probably already have a few makes and models in mind. Before you settle on one, compare the cost of the parts needed for the most common repairs and maintenance. One model may have a sales price that’s $5,000 less than another you’re considering, but if the cost of parts is 20 or 30 percent higher than parts for another vehicle, the higher priced model might actually be a better deal.

Turn to resources like RockAuto.com to compare parts prices. The site’s Repair Index automatically pulls prices from the company’s vast auto parts catalog based on year, make, model and type of part. It’s a quick, easy way to compare parts costs for different models and the results can be surprising.

For example, you might think a Chevy Metro is an economical car, but parts for one can be expensive, according to RockAuto, which sells parts for an average 20 to 60 percent less than other parts dealers. The bulk of the company’s business is selling parts direct to consumers, so it’s possible to save even more money by buying parts directly and doing repairs yourself. Visit www.RockAuto.com to learn more.

Next, check the repair history for a particular make and model from a credible source like Consumer Reports. The independent ratings organization maintains a huge database of information on virtually every make and model vehicle available in America. Actual owners and drivers contribute the information based on their experiences with a particular vehicle.

Once You’ve Narrowed it Down

When you find a vehicle you’re interested in, check the repair history and maintenance for that specific car. Pull a vehicle history report from a third-party source like CarFax, which will generally list major (reported) maintenance and accidents. The report can also help you spot discrepancies in odometer readings, if the vehicle has been used in an area prone to flooding, or if it’s been rebuilt after being in an accident so severe it was declared a total loss.

Never buy a used car until you’ve had it checked by your own mechanic – not even from a dealership that offers “certification” on its used vehicles. If a seller isn’t willing to let you take the vehicle to your mechanic, walk away.

Finally, consult your insurance agent to see how much it will cost to insure the vehicle. A used car that actually increases your annual premium may not be the great deal you thought it was.

Courtesy of ARAcontent

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By Diana Robinson

(NC)-Thinking of buying a used vehicle, but you’re not sure what you should be looking for? Keep these tips in mind as you search for your next dream vehicle.

1. Consider carefully where you buy the vehicle.

There are many places to purchase a used vehicle today. A reputable car dealership, a manufacturer’s certified pre-owned lot, a newspaper ad, an online ad, a private individual – there are many options, but you may be more comfortable dealing with one option over another.

2. Check that the paperwork seems to be in order.

Does the Vehicle Identification Number on the dash match the one on the door and the registration records? Are the Vehicle Registration forms the original ones and not copies? If the seller is a private individual, ask them to show photo ID to verify the name is the same as on the vehicle’s paperwork.

3. Ask to see all repair receipts for the vehicle.

Review all records to identify any potential future problems and to ensure the car has been properly maintained. Keep in mind that stolen vehicles generally don’t come with repair records.

4. Ask to see or purchase a vehicle history report.

A vehicle history report will tell you the car’s complete history. This information can be the most important you will receive in your decision making process, giving you complete peace of mind about the vehicle you are buying or saving you thousands of dollars in unexpected repair costs down the road. CarProof Vehicle History Reports is a Canadian company that offers the most comprehensive report available. More information is available online at www.carproof.com.

5. Look carefully at the vehicle in the daylight.

Does the vehicle look like it’s been properly maintained? Is there any visible damage? Is the paint an even colour all over the vehicle? Is there extreme wear and tear anywhere or does anything seem brand new?

6. Take the vehicle for a test drive.

Forget how fast it goes, how does it really feel as you are driving it? Does it pull to one side? Does it seem to smoke or do the brakes squeal? All these could mean expensive repairs.

7. Check the odometer.

Does the number of kilometres seem appropriate for the age and reported use of the vehicle? The average is 16,000-20,000 kms a year. Does the rest of the vehicle show more wear and tear than expected for its age?

8. Ask for a written statement about any accidents the vehicle has been in.

A recent survey conducted for CarProof Vehicle History Reports found that the biggest concern for 64 per cent of Canadians when buying a used vehicle was that it may have been damaged in an accident.

9. Get the car checked by a mechanic before the sale is finalized.

A qualified mechanic will be able to detect if the vehicle has hidden repairs, includes welds that were not done at the factory. They will also be able to determine if the vehicle is in proper working condition.

10. If something about the deal seems too good to be true, it probably is.

The car could have been rebuilt after being declared a complete write-off after an accident, or it could be stolen. Walk away if you are not completely comfortable making the purchase.

Credit: www.newscanada.com

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Approximately 25 per cent of all vehicles have some sort of accident claims recorded against them. It’s important to ask a seller if a vehicle has been in an accident and to get a written report of the vehicle’s accident history. This will ensure you are fully aware of potential problems that could arise. For instance, if it is a serious enough accident or if the repairs are not completed as required by the manufacturer, the warranty may be voided. Ask the seller to provide a vehicle history report if you want complete and full disclosure about accident claims, but make sure it provides accident claims information.

Credit: www.newscanada.com

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