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The following excerpts have been provided to give you an insight into the contents of the guide. Some automotive dealers advertise "no-haggle prices," "factory certified" used cars, and better warranties. Consider the dealer’s reputation when you evaluate these ads. Dealers are not required by law to give used car buyers a three-day right to cancel. The right to return the car in a few days for a refund exists only if the dealer grants this privilege to buyers. Dealers may describe the right to cancel as a "cooling-off" period, a money-back guarantee, or a "no questions asked" return policy. Before you purchase from a dealer, ask about the dealer's return policy, get it in writing and read it carefully. The Federal Trade Commission's Used Car Rule requires dealers to post a Buyers Guide in every used car they offer for sale. This includes light-duty vans, light-duty trucks, demonstrators, and program cars. Demonstrators are new cars that have not been owned, leased, or used as rentals, but have been driven by dealer staff. In other words a demonstrator has never been titled. Program cars are low-mileage, current-model-year vehicles returned from short-term leases or rentals. Buyers Guides do not have to be posted on motorcycles and most recreational vehicles. Anyone who sells less than six cars a year doesn't have to post a Buyers Guide on their used vehicle they are selling. Determining the valuation of used vehicle is not a simple matter. The condition of a used vehicle is subjective as well as the buying public's enthusiasm for given makes or models. A model might become a hot item for a period, then become an unfavorable item later. Every month an updated issue of the NADA book (used car guide book) comes out in print. Usually, you can look at the current month's NADA book at your bank or credit union. It's good idea to have any used vehicle inspected by an independent mechanic before you buy it. An inspection is a good idea even if the car has been "certified" and inspected by the dealer and is being sold with a warranty or service contract. A mechanical inspection is different from a safety inspection. Safety inspections usually focus on conditions that make a car unsafe to drive. They are not designed to determine the overall reliability or mechanical condition of a vehicle. The Buyers Guide lists an auto's 14 major systems and some serious problems that may occur in each. This list may help you and your mechanic evaluate the mechanical condition of the vehicle. The list also may help you compare warranties offered on different cars or by different dealers. |