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Part 2 of our Buying Guide for Used Cars...
Welcome to part two of the only buying guide for used cars you will ever need. In this part we will look at the different places where you can buy used cars and what you should expect. Having narrowed down your choice of used cars to one or two, its time to start actively looking. Before you decide where to buy, remember one thing: it's not where you buy the car that is important, it’s the car itself. You could buy a fantastic car from a private seller or a troublesome car from a dealer. It is possible to buy a good car from any of the sources available if you know what to look for. This buying guide for used cars guide is designed to help you buy a good used car and get a good deal wherever you decide to buy from.
There are many used car supermarkets around and they can be a good place to find really cheap used cars. These guys buy big, sell cheap and turnover a huge amount of stock. This does mean however that they cannot afford to be as fussy about what cars they stock as an approved dealer. They will have professional buyers who will have to keep stock levels replenished in line with their weekly sales. Most of their cars will come from large re marketing auctions and will range from late plate, low mileage to 5-year-old high mileage cars and everything in between. You will find ex-rental cars, ex-fleet or lease cars and end of line surplus dealer stock. Prices will be cheap but not very flexible The amount of stock they deal with means the quality will vary more than the approved dealer. Cars are prepared to a lower standard and scuffs, chips, marks and scratches will be commonplace and their repair may be used as bargaining tools to close the deal. The cars will still be subject to inspections and as with the dealer you should ask what level of inspection is carried out and ask to see the inspection sheet. Find out what warranty is included and the level of cover provided. Since the introduction of new regulations, most insurance backed warranty products are now very good but they still offer various level of protection. Find out what level you will be provided with. Read our warranty guide for more information. There are some real bargains to be found in car supermarkets. You might have to look a little harder but keenly priced cars in excellent condition with full service history can be found. Don’t be put off by high mileage ex-fleet cars or low mileage ex-rentals, if you know what to look for these options can provide real bargains. Read our used car checklist for more information.
The local trader will operate from a small forecourt and prices should be competitive. It’s harder than ever for the small trader to survive in the motor trade so the emphasis should be on good friendly service and value for money. The small forecourt was once the domain of the shady car dealer and although there are still some unscrupulous dealers around, they don’t generally last long in today’s climate. Buyers are more informed than ever and local traders rely on reputation to survive. Most local traders will stock popular makes and models aimed at the family market and avoid the more unusual cars that may be harder to sell. They will rely on repeat business and will resell the good part exchanges as well. Other small traders survive by specializing in a particular type of car such as sports and performance or Japanese imports. It can be an advantage buying from a small trader, as you may know their reputation already. If you are recommended to them they will want to look after you and justify that reputation.
There are still traders who work successfully from home and because of their low overheads and competition from the bigger dealers they should offer good deals. A good home trader will have enough motor trade experience to buy only the best stock in order to minimize preparation time and costs. Many people are worried about buying from home traders yet are happy to buy from private sellers. This makes no sense at all as the buyer has no comeback whatsoever from a private seller. However, the trader still has legal obligations and will have to operate within the guidelines of the sale of goods act. For this reason unscrupulous traders will often pose as private sellers to avoid any comeback. As with the local trader, the home trader may rely on word of mouth reputation and will often start by finding cars for family and friends. Many local traders operating from small forecourts would have started out this way. Buying in this way can get you a real bargain and most traders will expect you to haggle. If you are apprehensive about buying from a home trader then arrange an independent inspection of the vehicle. This can avoid hassle later on if there are major faults with the car. Most home traders will price their vehicles without warranties and some will offer them at extra cost. This is because of new FSA regulations that prevent many smaller dealers from selling insurance products. You can however buy a warranty direct from the warranty company yourself.
This is one of the more risky way of buying a used car and not always the cheapest. Many private sellers overvalue their own cars and expect top price so make sure you don’t pay too much. Watch out for traders posing as private sellers. They could be selling on the side illegally or trying to shift a dodgy car. A private seller may also be selling because they know there is a problem with their car. Unless you are very confident and mechanically minded your self, always arrange an independent inspection when buying privately. You can get a real bargain from a private seller. There are hundreds of reasons why people need to sell their cars and some sellers will be more flexible than others. Don’t be afraid to ask as many question as possible and try to ascertain a true picture of the owner’s circumstances and reasons for selling.
Buying at auction is not for the faint-hearted. There are many pitfalls that most people will not be aware of until its too late. Even the experienced motor traders and professional buyers get caught out sometimes. How to buy a car at auction is explained by expert motor trade buyers in our trade secrets section. It reveals some amazing auction secrets and information not usually available to the public. It is invaluable to anyone looking to buy at auction or starting out in the motor trade.
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