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What You Should Know When You Buy A Used Car
by Fraser Wheelock
http://www.fwcar.com

Buying a used car is always a gamble, but knowing your
rights and the seller's responsibilities can help you find
a good deal. The so-called Lemon Laws enacted in various
states hold dealers who sell used cars to certain standards
and guidelines of business behavior. If you're looking for
a used car, it's to your benefit to know what rights the
law in your state gives you.

Until 1975, consumers had little recourse if they purchased
a 'lemon'. There were no laws governing what warranties and
disclosures a dealer had to make when selling a car. With
the passing of the Magnuson-Moss Warranty Act, consumers
gained a powerful tool to help them be certain that the car
they were buying would actually run once they drove it off
the lot.

1. Know your payment options.
Basically, you have two choices: pay the entire amount in
full, or finance the total amount over time. You can apply
for a car loan from a bank, but dealers offer a wide
variety of loan options. Unless you have your heart set on
one particular vehicle, shop around for the best price at
the right terms for your pocket. Before you close the deal,
make sure that you know:

Another thing that you should know when considering a used
car purchase is the payment options available to you. The
basics are simple: are you paying the full price for the
car on purchase, or will you finance all or part of it?

2. Check the dealer's return policy.
Contrary to popular opinion, there is no 'cooling-off
period' required by law in used car sales. Even so, many
used car dealers do have a return policy that allows you
to return a used car purchased from them within a few days
if you change your mind. Check with the dealer on his
return policy rather than assuming.

You have a right to know the dealer's return policy. There
is a popular misconception that used cars are subject to a
three day 'cooling off period' during which time you may
cancel a sale without penalty. This applies only to mail
order goods and purchases made over the phone in most
states. Be sure that you know the dealer's return policy
before you leave the lot with your new car.

- whether the car is being sold 'as is'
- if there is a warranty on the car
- what, if any, percentage of repair costs the dealer pays
- a reminder that spoken promises are not enforceable
- the major mechanical and electrical systems on the car
- problems that you should look out for
- a reminder to ask to have the car inspected by an
independent inspector

Know what you're buying.
Under the law, any car dealer who sells more than six cars
per year must place a Buyer's Guild in each vehicle for
sale. The Buyer's Guide will list the price of the car, the
warranties with which it is sold, any mechanical problems
that it has if it is sold 'as is', and information designed
to help the consumer avoid being cheated.

4. Understand the laws of your state regarding warranties.
If a used car is offered for sale 'As Is', the appropriate
box must be checked on the Buyers Guide. Connecticut,
Kansas, Maine, Maryland, Massachusetts, Minnesota,
Mississippi, New Jersey, New York, Rhode Island, Vermont,
West Virginia and the District of Columbia don't allow
As Is sales of used cars. At least three other states
require other specific disclosures. To find out what
warranties and disclosures apply to used car sales in your
state, contact your state Attorney General.

You have a right to have any car that you are considering
purchasing inspected by an independent inspector at your
own expense. If the dealer does not want the car to leave
his lot, you have the right to bring your own mechanic onto
the lot to examine the car you are considering.

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