Buying Used Car Buy Owner Tips

used cars

“Used Car Buy Owner.” We’ve all seen this phrase before. Whether you’ve seen it posted on the side of the road or in your local classifieds, there is always someone trying to sell a used car buy owner. But why is that? Why aren’t people trading in their vehicles? The answer is clear.

Because of the way traditional dealers operate, many people feel that they can get more money for their car by selling it privately as opposed to trading it in, however, it is not as easy as it sounds. There are tons of hidden costs that private sellers incur when they sell their vehicles privately. Costs of advertisements, detailing the vehicle, and even state taxes are just some of the few. So how does this relate to you?

used cars

These people want to sell their cars and they want to sell them FAST. Here we will examine some of the ways you can take advantage of the seller’s eagerness to sell and how you can secure the best deal possible.

Know what the car is worth.

Just as you would at a dealer, you need to implement the same strategy when buying a used car for sale buy owner. It is vital that you know what the used car buy owner your buying is worth before you buy it. Use our guidelines for determining used car values and find out what you should really pay for the car.

Use your negotiating skills.

Remember, these people are extremely motivated to sell their car. This is a used car buy owner, not used car buy dealer.They have probably already bought their new car or are in the process of doing so; they can’t do it without YOU. Once you have determined the car’s worth, find a price that you are comfortable paying and start negotiating BELOW THAT PRICE. You will find that often times, despite their discomfort, sellers will be willing to negotiate. Much like you, they have established a comfort zone. You just need to find it.

Money Saving TIP! A wise man once told me, “Money talks!” When paying for a vehicle with cash, bring less than the final price when you close the sale.

For instance, you’ve set the final price at $5000, so the next day, you come back with $4800 cash and exclaim, “This is all I have!”

Nine times out of ten, they will take it. If not, you know you’ve got the extra $200, but if they do, take the money and run.

Seal the deal!

So you’ve found the right car, you know what it is worth, and you’re paying the right price. So what’s left? You’re almost done buying your used car buy owner. Make sure you tie up all the loose ends.

  • Ask the seller for a Bill of Sale. A Bill of Sale will allow you to define all the contingencies of the sale. You will be able to determine whether the seller is offering a warranty, all of the seller’s contact/personal information, and all of the vehicle’s information.
  • Ask for service reports. Ask the seller to provide you with any service history that they have available. Be courteous to their privacy and reject any personal information such as social security numbers and credit card numbers, but try to obtain as much information you can about the vehicle.

What You Need to Know About Car Dealer Scams

scam car

For years, dealers have been taking advantage of their customers. Dealer scams are designed to exploit weaknesses in their prospective customer’s morale and ability to make a purchase.

Dealers use all sorts of tricks to get their customers to buy a car. Whether they mess with your financing or try to fool you on your car’s trade in value, dealer’s and their trickery will truly make your car buying experience a living nightmare. With our help, you’ll be able to spot a scam through all the smoke and mirrors and be able to take advantage of some loop holes with their proposed “special offers”. Here we will examine some of the more popular tricks dealers pull on their customers.

scam car
“X” may not always mark the spot.

One very popular scam used by many traditional car dealers is know as “spotting”. Many dealers will take advantage of clauses in the contractual agreements you sign, thus giving them the ability to make changes at will. With this scam in particular, the dealer makes a few “changes” on your loan agreement. Example:

You buy a car and are given great loan terms for financing; let’s say 60 months at 4.95% interest. You take the car, and about two weeks later, the dealer calls you saying that there was a “problem” with the lender and that you have to take a loan for 66 months at 9.95% in order to keep the car.

Unfortunately, this happens to people very often, as they feel forced to keep the car. They’ve already gotten rid of their old car and have grown used to the new one. Don’t let this happen to you. Check out our keys to financing and get your own secure auto loan.

Benefits of Selling Your Used Car to a Dealer

used-car-dealA lot of people opt for second-hand vehicles, not only because these are cheaper but because these save them from the large depreciation of brand new vehicles.

Now if you are planning to sell your vehicle, you are given two options – first, sell it to a private party and second, negotiate with a dealer. Both have its share of advantages and disadvantages, but what really is the best option that you should look at if you want a hassle-free transaction? Well, if you are too busy to meet all the prospective buyers, you can look for a dealer who will serve as a middleman, thus, you won’t have to finalize the transaction by yourself. They’ll take your used car, and ensure it finds a good home

So what exactly are the benefits you may be able to acquire if you will transact with a dealer?

  1. You are safe.

We all know how some opportunistic people take advantage of such deals. Many have fallen on the trap – their vehicles were stolen or they have gotten the lowest possible price that they should have because they were tricked.  You will be safe from these mishaps by contacting a dealer.

  1. Save time.

If you are too busy with other important stuff, like probably work or school, meeting a prospective buyer is quite time consuming and might be hard to squeeze on your schedule. But when you let a dealer handle the transaction, you have nothing to worry about but to wait for your money once the transaction has been finalized.

  1. Instant Money.

Finding the right client may not happen sooner than expected. Because of that, if you need funds immediately, you won’t be able to acquire any. Unless you speak with a dealer who can buy your car right away.

These are just among the many benefits that you may be able to get if you will trust a reputable dealer. However, you have to understand that finding the perfect dealer should be intrinsically done. It is not as easy as it sounds. You need to make sure that your chosen dealer has ample experience and can provide you the best price and package. This will help you maximize the value of your vehicle, even if you will be opting for a dealer’s assistance.

Do not be blinded about other people’s idea of just selling your vehicle to a private party. If you are unsure about how to maximize what you can get from the deal, speak with someone who has been doing it for years. This will give you a much solid protection against those who target new sellers.