Low-Risk Strategies for Buying a Used Car
Someone challenged me to write about how to buy a used car. The simple answer to that is to find a car you are interested in, approach the seller, give him money and drive the car home. But that would be cheating my challenger.
The topic should really be “low-risk strategies for buying a used car”. Although that title sounds more like a management text-book than it does a blog post, I think it more accurately describes the essence of my challenger’s challenge.
So what are the low-risk strategies you can use when buying a used car? The answer is that there aren’t any. You just have to take your best shot. Sometimes you will be lucky and find a good car, and other times you will end up buying a vacuum cleaner that sucks your money right out of your pocket. But there are things that you can do to minimize the risk of buying a four-wheeled-dud.
The first thing to do is to really ask yourself if you want to buy a used car or not. The high risk of wasting thousands on a lemon might be enough to push you to buy a new car instead. But new-car salesmen are just as bad as used-car salesmen. Certainly, the car itself will probably go okay, but new-car dealers will relentlessly push the buyer into buying all the extras. This often leaves the buyer with less in the bank account but some nice, fancy gadgets in the car that won’t ever be used (passenger-side airbags? Feh!). So when you are weighing the pros and cons of buying a used car versus buying a new car, just figure that you are going to get royally worked over no matter what you do. It’s easier when you learn to accept that fact at face value.
Never buy a car from a friend. That is my next piece of advice. You may have ridden in the car many times, or you may even have driven it from time to time. Over the years your friend may have described to you his dealings with car mechanics. He may have spun adventurous tales of danger and excitement, like the time when his car broke down on a busy six-lane highway and he had to cross to the other side to get to a phone booth, but was attacked by an angry chicken. You may think you know this car. But you don’t. For in the deep recesses of your friend’s mind is the thought that one day he might sell the car to you. So, whether he realizes it or not, he won’t tell you the full story behind the breakdown (he didn’t get a flat tire, the rear axle sheared itself off the chassis). He may not do it consciously, but your friend is holding back. I would believe the part about the chicken, but a flat tire? Come on.
Know to ask the right questions and then doubt every answer you get. “Has this car ever been involved in an accident” is a great question. Assume that the answer is “yes”, but you are more likely to hear, “I was once driving south on a vacation with my family, when the car in front of us spun out of control. Thankfully this car has great brakes so I managed to stop on time. The driver of the other car was okay, but his car had to be towed to the next town. Luckily my car is very powerful, so I attached the tow-rope and hauled it 100 miles down the road, in the snow, barefoot”.
Another classic question is, “When was the car last serviced?” The true answer is probably that Cousin Angelo came down last weekend and helped to get the car going by repeatedly whacking the starter-motor with a monkey-wrench. However, the answer that you will probably get is, “I service the car regularly. Unfortunately the service log-book was destroyed when I drove my car at high-speed through the collapsing wall of a burning building to save a trapped fireman, a small child and her teddy bear. I managed to save them and the car emerged unscathed, but on the way out of the burning building the fireman flipped through the log book, commenting on how I only used authorized mechanics, when a huge bird of prey swooped down, grabbed the log book and then dropped it into the fiery depths of the second floor, never to be seen again”.
So buying a car is a tricky sort of a business, new or used. If I were you, I’d just take the bus.
The topic should really be “low-risk strategies for buying a used car”. Although that title sounds more like a management text-book than it does a blog post, I think it more accurately describes the essence of my challenger’s challenge.
So what are the low-risk strategies you can use when buying a used car? The answer is that there aren’t any. You just have to take your best shot. Sometimes you will be lucky and find a good car, and other times you will end up buying a vacuum cleaner that sucks your money right out of your pocket. But there are things that you can do to minimize the risk of buying a four-wheeled-dud.
The first thing to do is to really ask yourself if you want to buy a used car or not. The high risk of wasting thousands on a lemon might be enough to push you to buy a new car instead. But new-car salesmen are just as bad as used-car salesmen. Certainly, the car itself will probably go okay, but new-car dealers will relentlessly push the buyer into buying all the extras. This often leaves the buyer with less in the bank account but some nice, fancy gadgets in the car that won’t ever be used (passenger-side airbags? Feh!). So when you are weighing the pros and cons of buying a used car versus buying a new car, just figure that you are going to get royally worked over no matter what you do. It’s easier when you learn to accept that fact at face value.
Never buy a car from a friend. That is my next piece of advice. You may have ridden in the car many times, or you may even have driven it from time to time. Over the years your friend may have described to you his dealings with car mechanics. He may have spun adventurous tales of danger and excitement, like the time when his car broke down on a busy six-lane highway and he had to cross to the other side to get to a phone booth, but was attacked by an angry chicken. You may think you know this car. But you don’t. For in the deep recesses of your friend’s mind is the thought that one day he might sell the car to you. So, whether he realizes it or not, he won’t tell you the full story behind the breakdown (he didn’t get a flat tire, the rear axle sheared itself off the chassis). He may not do it consciously, but your friend is holding back. I would believe the part about the chicken, but a flat tire? Come on.
Know to ask the right questions and then doubt every answer you get. “Has this car ever been involved in an accident” is a great question. Assume that the answer is “yes”, but you are more likely to hear, “I was once driving south on a vacation with my family, when the car in front of us spun out of control. Thankfully this car has great brakes so I managed to stop on time. The driver of the other car was okay, but his car had to be towed to the next town. Luckily my car is very powerful, so I attached the tow-rope and hauled it 100 miles down the road, in the snow, barefoot”.
Another classic question is, “When was the car last serviced?” The true answer is probably that Cousin Angelo came down last weekend and helped to get the car going by repeatedly whacking the starter-motor with a monkey-wrench. However, the answer that you will probably get is, “I service the car regularly. Unfortunately the service log-book was destroyed when I drove my car at high-speed through the collapsing wall of a burning building to save a trapped fireman, a small child and her teddy bear. I managed to save them and the car emerged unscathed, but on the way out of the burning building the fireman flipped through the log book, commenting on how I only used authorized mechanics, when a huge bird of prey swooped down, grabbed the log book and then dropped it into the fiery depths of the second floor, never to be seen again”.
So buying a car is a tricky sort of a business, new or used. If I were you, I’d just take the bus.
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