Second hand cars can offer extraordinary value, and for some of us there is little option other than to buy a used car. Buying that clunker on a student budget can be a risky affair, but even prestige models with low miles and apparently in great condition can end up costing you more than you saved.
The biggest risk you take when you buy a second hand car is also one of the easiest to avoid. A stolen car won’t have its status written all over it, but there are easy methods to check whether the car you are buying has been reported as having been stolen, been involved in an accident or is on the authorities’ books for another reason.
What is more difficult to guard against is impending mechanical failure. Even the savviest of second hand car buyers sometimes end up with an expensive repair bill that they did not expect. One way of avoiding this situation is to buy a used car from a manufacturer’s dealer. Approved used cars are no longer limited to prestige models – even budget car manufacturers now have a used car area on their dealership forecourts. The benefit of approved used cars is twofold: cars sold as approved used cars are thoroughly examined for mechanical defects, and they are usually protected with a two year or longer warranty.
If you are not buying from an approved dealer, or are buying from private seller, it may be a good idea to take a friend or family member with you that is familiar with buying cars and who knows what to look out for.