Top 10 Used Car Buying Myths, Mistakes, and Pitfalls

#2)  Carfax or Other Vehicle History reports
A vehicle history report cannot inform the used car buyer of any existing or potential mechanical or electrical problems, or the quality of any previous repairs, including any accident repairs.  Vehicle history reports do not report all accidents.  Carfax & AutoCheck have admitted that there are thousands of accidents each day that never get reported to their database.  Only a Body & Frame inspection performed by a Body & Frame Specialists can determine if the vehicle was in an accident, the extent of the damage, and the quality of any repairs. Please read the “7 problems” with vehicle history reports that Carfax or AutoCheck don’t tell their customers

#3)  Certified Vehicles
There is no quality standard or inspection standard for "Certified" or “Certified Pre-Owned” vehicles.  Any certifications, inspection standards, and warranties vary greatly from dealer to dealer.  As with any warranty, used car buyers must know what systems are covered, and NOT COVERED before purchase.  A professional pre-purchase inspection is still required to determine any existing problems that are not covered under the limited warranty and any problems missed by the dealer’s cursory inspection.

#4)  Used Car Values
There are many web sites and publications that give used car values.  Normally, these pricing guides and web sites calculate used car prices based upon current sales plus additions and deductions for items including optional equipment and excessive miles. However, these web sites and publications cannot give accurate deductions for the true mechanical condition of the vehicle.  Only a professional pre-purchase inspection can discover any needed repairs, abuse, and previous accident damages.  The true value of a used vehicle is the book value minus any needed repairs, abuse, or previous accident damage

#5)  Frame Damaged and Flooded Vehicles
It is estimated that 1 in 14 vehicles on the road today are rebuilt from salvage and that 40% of all frame repairs are substandard.  Used car buyers will need a professional pre-purchase inspection by a Body & Frame Specialist to determine the extent of any accident damages, and the quality of any repairs. Many frame damage and flooded vehicles have clean titles and were never reported to the DMV, Carfax or AutoCheck

#6)  Odometer Fraud
It is estimated that 1 in 4 used vehicles have odometer discrepancies. A professional inspection should determine if the wear and tear on the vehicle is consistent with the odometer reading. Vehicles with altered miles or abnormal wear and tear will be worth much less than the book value.

#7)  "AS -IS" Document
Buyers are required to sign the "AS-IS" document when purchasing a vehicle from a used car dealer. The “AS-IS” document has 2 check boxes, “AS-IS No Warranty” and “Warranty”. If the warranty box is checked on the document, be sure you understand what is covered and for what length of time .You always have the right to have the vehicle professionally inspected to determine the true condition before purchase. Buyers usually have little or no rights after the sale.

#8)  Automatic Warranty
Many used car buyers have a belief there is some sort of automatic warranty when purchasing from a used car dealer. However, dealers (and individuals) are not required to give any type of used car warranty. Any warranty must be in writing to be enforceable and most warranties are limited to certain parts or systems of the vehicle.  Used car buyers must understand what components and/or systems are covered, AND NOT COVERED, and for what length of time.  Most are very limited warranties covering just the drive train and not the majority of the mechanical and electrical systems. Warranties do not cover any problems caused by previous accident damage.
  Note: A used vehicle might have some remaining factory warranty. This is different from a warranty given by a used car dealer.  Vehicles with remaining factory warranty should be inspected for previous accident damage and abuse by the former owner(s), which may void the remaining factory warranty

#9)  Take Back Period
Many used car buyers still believe there is an automatic 3-day take back period, or they can take it back if they have not made the first payment.  There is no such law or protection.

#10)  Used Car Lemon Law
There is no Lemon Law for used vehicles in most States. Buyers assume that since there is a new car Lemon Law protecting consumers, that there must be a used car Lemon Law. It is the buyers’ responsibly to determine the true condition of the vehicle before purchase.