Be vigilant and be always on the alert. Especially if you are buying a vehicle. Be sure to scrutinize every aspect of the vehicle that you are eyeing. Of course, you would want to buy a vehicle that is in good condition and would give you the satisfaction you are looking for. And yes, you also have to be on the lookout for you may be purchasing a hot car.
The term “hot car” is usually used to refer to a vehicle that has been stolen. The common knowledge is that once a car gets stolen, it is taken to the chop shop and the parts are sold individually. You see, at present, some thieves do not simply chop up your vehicle. They have found that they can sell a car they stole without dissecting them into pieces. All they need to do is roll back the odometer and the car would look like good as new. Now, as a buyer, you surely would not want to have a stolen vehicle right in your hands.
If you find a vehicle that is sold for a much lower cost that you imagined it would be, ask yourself first the probably reasons why it is sold for such a low price. Cars that are usually sold with low prices when it could have been more have actually something wrong with it. Maybe it was stolen. Maybe it has been flood-damaged. Maybe it has already been in an accident. Auto body repair NJ
To make sure, you can also check the seller’s name as well as his address. Compare that piece of information with the title and the registration of the vehicle. Verify these pieces of information as well. The vehicle identification number (VIN) should also help. Dents, scratches or loose rivets on the plate would mean that it may have been tampered. Then, check the VIN with the number on the title given to you. The Department of Motor Vehicles may also help. You can ask them to run a title history just to be on the safe side.
Now, if you do encounter a stolen vehicle, be on the alert and report the matter immediately to the authorities.
Buying a car needs not just investment but deep thought. The market is overflowing with choices and temptations. Buyers need to think, what kind of car and can I afford it?
Think, what do I need transportation for right now and what will I need two years from now? Do I want a car as a status symbol or as something that makes my life easier? Will the car be a commuter vehicle, or to transport children? Would a van with cargo space and high clearance be more suitable for a growing family? Should the car be a two-wheel or four-wheel drive? What kind of terrain will I be driving in most of the time? Go through auto magazines as well as consumer reports to get a clear picture of the world of cars.
1. Work on your finances and determine what you need to spend each month on transportation. A car should not cost more than 10% of your net pay per month. If it is more, then consider leasing a car instead of buying one.
2. Before you finalize anything, find out what the target price is. Four figure discounts are available with almost every make.
3. Never sign an arbitration clause or blank financial forms. Try and get finance from a separate source, a bank or financial institution.
4. Haggling will get you a good deal apart from shopping around for finance. The market is competitive be sure to check dealer fiancé, high street, internet lenders, as well as other options.
5. Try and ensure a large down payment thereby reducing the loan to be paid. Work out your finances and choice of car such that the term of loan is for the shortest period.
6. Find out what buying incentives are on offer. These vary from audio systems to cash back offers, and 0% financing. Ask what extras and add ons will cost in addition to the price of the car.
7. Be sure to evaluate your old car independently if you are considering a trade in. Pay attention to ‘cost to change’, the difference between what the new car costs and what the old one is worth.
8. Find out about warranties, taxes, and insurance. These can eat into your budget.
9. Vet the contract well. Read the fine print. Make sure that paying off the loan before time will not carry any penalty.
10. Check out at least 3-4 dealers to gauge what the best offer is.
Test drive the vehicle before you finalize the deal and go through the car booklet page by page to understand all that the manufacturer needs to tell you. Be clear what is under warranty and what is not.
Never choose vehicle based on a picture or dream. It is not how you look in the car that’s important but how well the car will fulfill your needs. Be practical and sensible; do not buy a model because the dealership is offering a holiday for two or a low interest scheme. Identify a vehicle that suits your needs before subjecting yourself to an onslaught of marketing.