Are you considering buying a pre-owned (“used”) car, truck, or SUV? This really is a smart move when you find the right vehicle at the right price. New cars are worth less money the moment you take ownership and drive them off the lot. Even though we love the smell and feel of a new car, let’s face it, buying them new is rarely a good investment.
Many pre-owned vehicles you see on dealer lots are trade-ins, leased vehicles or “program” vehicles (vehicles used in an advertisement). Occasionally you might find a “loaner” car, but more often you will find buybacks. Buybacks are new car sales that have fallen through for a variety of reasons.
When you consider that a pre-owned vehicle may have as few as 1,000 miles, purchasing these beauties makes perfect sense. Perfect sense, as long as you get a pre-owned vehicle inspection first.
What is a Pre-Owned Vehicle Inspection?
First, let’s talk about dealers. While dealers should do a thorough pre-owned inspection, to say that some of them “overlook” (don’t want to pay for repairs) certain items would be an understatement. Many dealers will have the meticulously detailed inside and out but ignore some repairs in hope that the beauty of that waxed hood will keep you from noticing.
A private owner sometimes has a pre-owned vehicle inspection done and happily gives you a copy, but do you know the name of the shop that did the inspection? Believe it or not, you can purchase pre-owned vehicle inspection forms online that look very, very real. Unfortunately, if you try to call or find this repair shop, they don’t exist. It would be worth your while to pay for an inspection out of your own pocket. Have the seller go with you. If they balk and refuse to let you do this, it’s time to walk away.
Thinking of taking your Uncle Joe along to check out the car? Trust us, unless Uncle Joe is an ASE certified mechanic, he can’t do the complete inspection the car deserves.
Even a Dealer Certified Pre-Owned Vehicle?
Certified pre-owned vehicles from the dealer seem like a sure thing, right? CPO’s, or certified pre-owned, are often the cream of the used car lot. They often have lower miles and have a clean history with no reported accidents. Nearly all dealers will extend the warranty on the vehicle. They will even offer extra perks, such as free roadside assistance for a year, free loaner vehicles while the car is in warranty, etc. These are some sweet perks, but remember nothing is free. CPO’s also cost more than other pre-owned cars.
Keep in mind that the car will still be covered by its original manufacturer’s warranty. Some of these warranties can be as long as 5 years/50,000 miles. This warranty goes with the car, not the buyer. So, you can still use it if the vehicle is within the specified range of that manufacturer.
Whether you choose to accept the dealer’s “certified” vehicle because it is still under warranty (so if anything IS wrong, you don’t have to pay) or if you ask to take the car for another inspection is up to you. This is a personal preference since some people don’t mind taking the car back to the dealer multiple times if it’s not coming out of their pocket. On the other hand, others want the peace of mind that comes with an additional pre-owned inspection.
Is that Carfax Program Worth the Money?
Probably. Especially if you are considering multiple cars. Use this service by entering the VIN (vehicle identification number: you can find it on a tag under the windshield) to discover who previously owned the vehicle, where it was sold, if it was involved in any major accidents, if it came from a car rental company, etc.
We aren’t pushing any of these services. There are plenty of them out there, but Carfax is probably the best known. Armed with this information, in addition to a vehicle inspection, can really pay off and potentially save you thousands.
One last thing we must mention: Consumer Reports has a list of what they consider to be the worst used car models that you should avoid. You can find that list here.
Why is a Pre-Owned Vehicle Inspection So Important?
We understand. No one wants to spend their money on something they can’t see the benefit of. However, no matter how beautiful and perfect that car might look on the inside, there could be a big problem lurking just under the surface. Think of an inspection as an inexpensive form of insurance. It will let you know everything that is wrong or going bad, so you don’t buy a lemon.
A pre-owned inspection will show you:
- If there is frame damage
- Flood or fire damage
- If there was sloppy or shoddy work done previously
- It reveals hidden problems with the engine and transmission
- Check out trouble codes that could indicate computer or electrical problems
- Confirm the overall condition level of the vehicle, including how much life is left on the brake pads and rotors, tire wear, belt wear, etc.
Of course, no one can predict the future. Even a pre-owned inspection might not reveal an electrical part that is about to fail, but at least the inspection will let you know exactly what you are buying; a peach or a lemon.
Remember that your magnificently beautiful car isn’t worth much if it’s always on the back of a tow truck! Contact the pros at My Mechanic if you’re considering an inspection. We will be happy to perform pre-purchase inspection, for less than $100, to make sure you are equipped with the knowledge needed to buy a safe and dependable vehicle.
