Top 10 Buying Myths, Misconceptions and
Mistakes
We have been performing
pre-purchase inspections on used
vehicles for over 20 years. We see the same mistakes being made over and but by
different buyers. Here are the top 10 myths,
misconceptions and mistakes many buyers make when they purchase a used vehicle:
1: "AS -IS" Document
Buyers are required to sign the AS-IS document when purchasing a used vehicle.
You have the right to have the vehicle professionally inspected to determine the
true condition before purchase. Buyers have little or no rights after the
sale. Click here for more information on the AS-IS
document.
2: Take Back Period
Many buyers believe that there is a 3-day take back period, or they can take it
back if they have not made the first payment. There is are no Law stating
the buyer can get their money back if the buyer is not satisfied after
the purchase.
3: Used Car Lemon
Law
There is no Lemon Law for used vehicles in Texas.
Buyers assume that since there is a new car Lemon Law protecting
consumers, that there must be a
used car Lemon Law. However, most States do not have lemon laws for used
vehicles.
4: Automatic
Warranty
Many people believe there is a
warrantee that automatically comes with a used car. Dealers are not required to
give any type of warranty when they sell a used vehicle. Any warranty
given by the dealer must be in writing to be enforceable. If you get a warranty, make sure you
understand what is covered and for what length of time. Many dealer warrantees
become nightmares once the buyer tries to use them. Note: Some used
vehicles might have some factory
warranty still remaining. This is different from the warrantee given by a
dealer. Click here for more information on
manufacture's warrantees.
5: Used Car Values
There are web sites that will give approximate values on used vehicles. Normally there are
price additions and deductions for optional equipment and excessive miles,
etc... However, there are no deductions for actual mechanical condition of the
vehicle. If a
pre-purchase inspection discovers repairs needed, the cost of the repairs should
be deducted from the book value. Click
here for determining the value of a used vehicle.
6: Vehicle History reports
Vehicle history reports will not tell the buyer the actual condition of
the vehicle. History reports will not tell if there are existing problems
with the vehicle or the quality of any repairs made to the vehicle. Vehicle
history companies admit that they have very little accident history and repair
history. Click here for more limitations to history
reports and how to find the true condition before purchase.
7: Frame Damaged and Flooded
Vehicles
Its estimated that 1 in 14 vehicles on the road today are rebuilt from salvage,
and many have clean titles or go unreported, and that 40% of all frame repairs are substandard.
Many buyers purchase these vehicles without knowing of previous damage.
Previously frame damaged or flooded vehicles can have safety and reliability
problems. Click here for more information about frame
and flood damage vehicles.
8: Certified Vehicles
There is no standard criteria for a "Certified" vehicle. Every dealer has its
own certification standards which vary greatly from dealer to dealer. Most of
the time, buyers are just paying for a limited warrantee. Click
here for more information about certified vehicles.
9: Odometer Fraud
Its estimated that 1 in 4 used vehicles have odometer discrepancies. Buyers are
paying more than the vehicle is worth. Click here for
more information about odometer fraud.
10: Pre-Purchase Inspections
All Automotive Technicians are not created equal. Most Technicians are only certified
in a few automotive systems. Buyers need every mechanical and electrical system
tested and evaluated before purchased. Only an ASE Master Certified Technician is qualified to
inspect the entire vehicle. Click here for more
information about what information buyers need from a pre-purchase inspection.
Are You Buying a Vehicle With Past or Current Problems?
Know the True Condition by Scheduling Auto P. I.'s
600-Point Inspection™.
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