Buying a used car is usually a straightforward process. When you decide what model you’d like to buy, you go check it out and negotiate on the price. But did you know that there are some used car buying myths that people believe as the truth
It never ceases to amaze me how people make catastrophic errors because their “mates” advised them how to do something! If you’re new to the used car buying world, you will doubtless be wondering what is myth and what is fact.
Keep reading to learn more about the top used car buying myths of 2015. Once you’ve read this article, you will be better prepared for the process!
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Myth: It’s better to buy a car from a private seller
If you replace the word “better” for “cheaper” you will be stating a fact rather than a myth. Dealers will always charge more than a private seller. That’s because they have business overheads to cover like insurance, repairs and so forth.
Also, buying from a private seller doesn’t give you the same amount of legal cover that purchasing from a dealer does.
Used car dealers like Hilton Garage have a legal obligation to give you an accurate description of any car they sell. They must also ensure that the cars they sell are roadworthy and won’t blow up a mile down the road!
You will also get a receipt for your purchase from a car dealer. A private seller isn’t obligated to do this.
Myth: You own the car once you leave a deposit on it
The seller still has ownership of the car until you pay for it in full. They could also sell the car to someone else if they get offered a higher price. In those cases, they must give you back your deposit for obvious reasons.
With deposits, the idea is that the seller removes the car from sale and keeps it aside for you until you pay the rest of the balance. They can give you a receipt for your deposit. But they can’t give you the car until you pay for it 100%!
Myth: Buying from a private seller in a public location is a good idea
If a seller suggests you meet at a public place so that you can purchase the car, walk away! On first reflection, it might seem like a kind suggestion by the seller. However, did you know it’s a tactic used by people selling stolen or “cloned” vehicles?
The sad truth is scores of unsuspecting motorists got caught out by such a scam. They often end up losing their money, and have their car seized from them by the police. When you’re interested in a car from a private seller, always arrange to meet them at their home.
If you have safety concerns, you could always take a friend with you and let a relative know where you’re going and who you are going to see. Avoid car sellers that refuse to meet you at their homes.