Don’t get ripped off when buying a used car
Today, more and more people are choosing to sell their cars privately and many are making their used vehicle purchases online.
Today’s used car seller is your friend, your neighbour, a stranger from another state - even you!
With the internet, everyone can be a seller with a quick click of the mouse, which also means that fraud and deceit can be more common.
According to a study of Australian used car buyers compiled by Equifax Auto, 13% of buyers have made an unpleasant discovery about their car’s history after purchase. The report revealed common types of fraud involved selling vehicles that:
- were involved in undisclosed significant accidents requiring extensive repairs.
- had been written off and subsequently repaired.
- were poorly maintained, resulting in safety issues and subsequent repairs.
- outright didn’t exist or had been re-birthed.
- had fictitious Vehicle Identification Numbers (VINs).
- had VINs that didn’t match the car registration.
So how does one avoid these scam artists?
Fortunately, there are number of precautions that one can take to avoid getting ripped off when purchasing a used car:
Inspect the vehicle in person – First and foremost, make sure you check out the vehicle yourself before buying, preferably in daylight so any faults are more visible. Make a note of the VIN on the Car Registration and check that number matches the VIN on the car. (The VIN is usually located on the driver side of the dashboard or along the frame of the driver side door, in the engine bay and on the registration papers).
Get a REVs check and vehicle history check - With the correct VIN, buyers can check the vehicle against the Register of Encumbered Vehicles (REVs) in their state to find out if the car is carrying any debt. Equifax Auto, for example, provides an extensive car check that includes a REVs check and full vehicle history check such as whether the car has been written-off or stolen, what its current valuation is, known odometer readings, safety and emission ratings as well as encumbrances in other states. It’ll be worth the little bit of money (usually less than $50) to give yourself that peace of mind.
When buying a used vehicle, the overarching rule is – buyer beware. If you suspect that the vehicle you’re interested in purchasing has something peculiar in its car history that doesn’t add up, or it is a deal too good to be true, it probably is and you’re probably better off looking for something else. By being smart about used car shopping, you can be sure your next car is not a lemon.