I know a lot of people who are not interested in used cars. They want the smell of a new car, the factory warranty, to be the first person on the block with that model. These are all valid reasons, but there is a flip side to the story: The value drops dramatically once you're off the dealer's lot, you are roped into monthly payments for the next half decade, you get to deal with that first door ding on your baby (or the stress of parking miles away and worrying that nothing will happen), you need to carry more insurance ...
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I know a lot of people who are not interested in used cars. They want the smell of a new car, the factory warranty, to be the first person on the block with that model. These are all valid reasons, but there is a flip side to the story: The value drops dramatically once you're off the dealer's lot, you are roped into monthly payments for the next half decade, you get to deal with that first door ding on your baby (or the stress of parking miles away and worrying that nothing will happen), you need to carry more insurance since the bank owns the car itself and wants it covered (as opposed to just carrying liability coverage), and the "new car smell" is actually a bunch of unhealthy chemicals used in manufacturing the interior parts of your car. A used car if purchased wisely, maintained correctly, and driven carefully, can be very reliable transportation, retain it's value for many years, and in many cases be sold for a profit! I have 40 cases to prove it! However, an unwary buyer can really wind up getting taken advantage of. It takes no effort at all to pay too much for a used car, to overlook body damage, to miss needed repairs that can run into several thousands of dollars, or to buy a car that wasn't even that person's to sell in the first place! You can learn a lot about a car from the current owner, but you need to take out your magnifying glass and put on your trench coat (do some detective work) because not everyone selling a car is completely honest. As a matter of fact, I would say less than half the people you meet selling cars will tell you the whole truth about it. Still, with the tips in this book, and a little "smart" work, as opposed to driving all over town chasing cars that sound good in the ad, you can find the car of your dreams for less than you thought it would cost, and be happy knowing that you paid the right price - and can sell it later and recoup your full investment (or more)!
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