Used Car Finance

The VIN

The vehicle identification number is the key to unlocking the mysterious past of any used car. Armed with this number that is unique to every vehicle, anyone can discover how many previous owners have sat behind the wheel, and whether the automobile has been in any serious accidents.

The VIN is invaluable to any persons buying a used car, because it will reveal a potentially checked past.  If the car has gone through an abnormal amount of owners, it’s a red flag.  What is wrong with the car that made all of the previous drivers want to get rid of it, in favor of different or better transportation?  You may never know the answer; but, you might want to consider selecting a different used car.  

In addition to ownership, the VIN will reveal the most vital information available on any vehicle.   You will be able to find out if it has ever been in an accident.  Sitting on a dealership lot, or in the driveway of a private owner, the automobile may look great; but looks can be deceiving.  Although a little fender bender may not be a big deal, a major collision may have compromised the potential safety of the car.

For example, if the frame of a vehicle has been damaged beyond the point of fixing it like new, it may not provide a normal level of protection¸ if you should ever be involved in another accident.  Thus, you are more likely to be seriously injured in this car, than in a vehicle with a stronger frame.  Also, if your car is permanently out of alignment, it can cause unnecessary wear and tear on the tires.  Over time, this can become an expensive problem that also compromises safety on the road.

The Blue Book

In order to determine the value of a trade-in, car dealerships possess a blue book that lists the value of any given vehicle, based upon the make, model, and year. Any additional depreciated assessed, due to abnormal wear and tear, is a matter of educated guesswork.

However, if a used car appears to be in good condition for its age, you don’t have to be a car salesman to find out if the seller is asking for a fair price, or hoping to gain a little extra profit off you desire for that car and your lack of knowledge regarding its true value.

To find out the average price of a used car, all you need to know is the make, model, and year of manufacture.  Today, you don’t need a dealer to show you his/her little blue book.  Thanks to the information super highway, you can get the same information from the Internet in a couple of minutes.  With this knowledge, you have the power to make a better deal for your chosen used car.  If the seller won’t budge on the price, you can always take your business elsewhere.

Under the Hood

Even if the VIN doesn’t show that the automobile has a checkered history, and the Blue Book shows that the seller is asking a fair price, you still cannot be sure that you are getting a good deal when buying a used car.  You definitely need to check under the hood.  

If you are a professional mechanic, or love to restore old cars as a hobby, checking out the inner workings of an automobile isn’t a problem.  But, a lot of drivers know where to put the gas and the importance of regularly changing the oil.  Beyond that¸ they are clueless.

If you fall into the clueless category, you should have an independent mechanic look at the car, before making your final purchase. He/she will be able to tell you if there are any unrevealed problems with the vehicle, and how expensive it will be to fix, once you own the car.
 
Many sellers count on buyers remaining clueless.  Even if they don’t outright lie to you, they will without questionable information about the car, unless you ask. They are hoping their problem will soon become yours.

In short, before shopping for transportation, there is some important information about buying a used car that you need to know. You should always check the car’s history, know its true value, and make sure there are no hidden problems that will require costly repairs in the near future.  If you know what to look for, it will be easier to recognize a good deal, when you see one.