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The Perils Of Buying And Financing A Used Car
By: Peter Garant
Whenever a person buys or leases a car, he seeks ways to finance this move. Most
auto financing involves a car loan, which entails a detailed check on his credit
history and a tough interview about car finance. When he undergoes all these to
buy a used car, it is only fair that he also performs his own investigations
about the car he is going to buy. In fact, he should never consider buying a
used car, which history has not been checked. If he does, he may just end up
paying for a piece of junk.
A used car must be checked for its title, registration, odometer, and the
problems that it had weathered before it reached your eyes. A “title check” will
determine if the car is salvaged, flooded or rebuilt. For example, many cars
were destroyed during the 9 -11 World Trade tragedy. Many cars, too, were
damaged during the hurricanes and floods. These cars were salvaged by
enterprising people. The cars will be rebuilt and sold again at car auctions. A
title check will also discover if the used car has lemon history.
A “registration check” will determine if the used car has been used as a fleet
car, or as a taxi, or even as a police car. If the used car has been utilized in
any of these, then it is safe to say that within a given period of time, this
particular used car has covered more miles than the average privately used car.
A registration check will also reveal if the used car was ever rented or leased.
The car’s odometer is an instrument used to measure the distance traveled by a
vehicle. An “odometer check” will show if the odometer has been broken or fraud.
It will also show if it has been rolled back or rolled over. If the odometer has
been tampered, this does not bode well for the next owner of the used car. The
car may be older than what the dealer is telling you. Or it may have mileage
problems.
A “problem check” will determine if the used car has sustained fire damage or an
explosion. It will also show if it has been involved in a major accident. The
fire or accident may have inflicted a still undetected damage on the used car.
It is also quite creepy to use a car that has cradled dead bodies before. A
problem check will reveal if the car has been stolen. A car that has been stolen
may no longer have all its original parts.
A used car may give you more problems than you can manage. But not all used cars
are damaged, leased or stolen. This is why there are still many people who take
out car loans to buy a used car. To be safe, the potential buyer must order a
vehicle history report.
About the Author:
Peter Garant is writing articles about bad credit for his credit repair kits
blog and articles about car financing for his family finance site.
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