When you buy a used car, you have the opportunity to save some money. However, the process of buying and selling a second hand vehicle can be complicated and can leave you with little protection. There is risk in every transaction and there is no way to avoid it. The guidelines that follow are intended to help protect yourself against fraud when buying or selling used cars in sewell or online.
Research the Car Seller’s Past
Be sure to research a car seller carefully before you purchase from him. Learn about his history and all lawsuits filed against him. Check the court records of his last five purchases and any litigation between him and another car buyer, then compare if there are any outstanding employees in his company that he has been sued for under-age driving or fraudulent use of a credit card. Also check out the name of any other vehicle dealerships that he has sued for similar reasons. You should never feel comfortable buying from someone with a history of questionable dealings with other buyers.
Protect Yourself from Fraud
When you buy a used vehicle, always make sure that the debtor is properly identified. You should be aware of the name or company and where to find them. If the person is using a different name or no name at all, be careful, because this is often a tactic used by car dealers to bypass fraud laws.
Get a Loan Beforehand
If you are buying a used car privately and not through an authorized dealer, you may have to have someone co-sign on a loan with you to use as collateral for the purchase. This will ensure that if the debt goes unpaid (or even if it’s paid) that your co-signer will be responsible for making sure you get your money back.
Check the Car’s History
You can check a car’s history by going online to CarProof.com to review the VIN number and Vehicle Identification Number, title, ownership and accident history. There is also information about recalls, recalls and technical service bulletins for the car being researched. Always check for any recall notices involving your new vehicle and make sure you keep them up to date with service bulletins that may alleviate maintenance problems for your vehicle in the future.
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