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Consumer Guide: Buying A Used Car

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From 8 On Your Side of News Channel 8

Published: April 2, 2008

Each year Americans spend over 85 billion dollars to buy more than 17 million used cars. Only about one-half of all used cars sold by dealers come with a written warranty. The other half are sold "as-is" without a WRITTEN warranty. This means that if you have a problem with the car after you buy it, you must pay for the repairs yourself. The dealer has no obligation for the car once the sale is complete. If you are buying a used car, the Federal Trade Commission Used Car Rule may help you. This rule requires all used car dealers to place a large sticker called a "Buyers Guide" in the window of each used vehicle they offer for sale. The "Buyers Guide" should state:

1. Whether the vehicle comes with a warranty and, if so, what specific warranty protection the dealer will provide; or

2. Whether the vehicle comes with no warranty (as is) or with implied warranties only.

The "Buyer Guide" must reflect any changes in warranty coverage that you may have negotiated with the dealer. It also becomes part of your sales contract. Dealers are required to post the "Buyers Guide" on all used vehicles, including autos, light-duty vans, and light duty trucks.

Before you buy a used car, it is a good idea to ask if you may have the car inspected by your mechanic. This way you will have a chance to drive the car and find out about the mechanical condition of the car BEFORE you purchase it.

If after checking the car you are still interested in purchasing it, then you are ready to:

1. READ the entire contract.

2. ASK questions if you do not understand.

3. Get the answers in WRITING. Oral agreements are binding, but hard to prove.

REMEMBER: Buying a car can be exciting and rewarding. Take your time in selecting one that fits your needs.

Provided by "8 On Your Side" with help from the Federal Trade Commission

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