Buying a repossessed car can save you a fantastic amount of cash. On the other hand, unlike new cars, repossessed cars sometimes have operational problems that will not be immediately apparent. Sellers of repossessed cars sometimes attempt to hide these problems to be able to make a sale or convince you to pay for an increased price. Therefore, it is essential to take caution once you shop for just a repossessed car. Listed here are some tips you may use to protect yourself from scams along with other potential problems and be aware should any issues arise, you’ve got consumer protection rights under applicable laws.
1. Watch out for Warranties
Many repossessed car dealers will encourage you to purchase an extended warranty within the vehicle you buy. On the other hand, purchasing a warranty from the dealer often costs more as compared to it may be worth. Before you decide to agree for an extended warranty, shop around and make certain that the dealer’s price is fair.
2. Always Put it in Writing
If you ever intend to buy a repossessed car, don’t make any agreements unless you along with the dealer have both authorized applicable paperwork. Without an ironclad document backing up the arrangement, the dealer can change the terms at any time.
3. Ask for Identification
Some scammers might be attempting to sell cars that don’t belong to them. To protect yourself, you must always ask to find out identification whenever you purchase a repossessed car from the private seller. Before you decide to pay, make certain that the name within the seller’s ID matches the name within the title.
4. Find out about the Vehicle
Prior to deciding to buy a car, research its history. Websites like Auto Check or Carfax can provide specifics of a vehicle given its identification number. Valuable information may are the car’s actual mileage, major accidents, the quantity of owners and whether or not the vehicle includes a salvage title. Consumer protection law will not allow any changes towards the vehicle’s odometer in the process.
5. Take it for the Test Drive
When determining how well a car runs, don’t take the dealer’s word for it. Ask to push the car a reasonable distance before you decide to agree to purchase it. While driving the vehicle, look for signs of potential issues like brake failure or poor maneuverability.
6. Seek Legal Advice
In case you think you could happen to be the victim of the scam, seek the advice of a consumer protection attorney. Certain consumer protection laws exist to avoid consumers from losing money being a result of the bad transaction. One example is, if your seller violates a contract that you both sign, a consumer protection attorney may help you recover your losses. Consumer protection attorneys could also be in a position to help you if a seller refuses to honor a warranty, sells a car that will not belong to him or lies about a vehicle’s condition.