Important Things To Consider When Buying A Used Car or Certified Pre-Owned Vehicle
The market for used vehicles has never been stronger. With thinning budgets, diminishing cash flow and high prices, the last thing we want to do is spring for a brand new set of wheels. But buying a certified used vehicle comes with its own set of unique risks and problems. Los Angeles Times Staff Writer Ken Bensinger’s article “Seven steps to buying a used car” ()
tells you, step by step, the ways you can avoid buying a lemon – whether you purchase the vehicle from a dealer, online or from a private owner.
According to the article, in 2007 alone Americans bought 41.4 million used vehicles compared to 16 million new vehicles. Consumers now also have a wide variety of choices – from certified pre-owned vehicles to no-haggle deals on eBay. And yet, there is always the possibility that you could end up with a lemon. Bensinger lists the important decisions you must make and things you must watch out for before making a decision on a used car.
A common misconception among used cars buyers is that they’ll be fine if they buy a certified pre-owned vehicle. Last year alone, 1.6 million of these certified pre-owned vehicles were sold in the United States. A CPO vehicle costs about $1,700 more than a regular used car because of the inspections and warranties that go into them. But here’s what every used car buyer needs to remember – shelling out that extra cash and buying a CPO does not mean you won’t get stuck with a lemon.
