A recent study shows that in a slow economy, people are more likely to buy a used car to save money. But, can they spot a deal from a dud? If a recent "Truth About Used Cars Challenge" is any indication, most people can't.
Consumers at a shopping mall were challenged to examine four pre-owned vehicles and select the safe, reliable vehicle they would put their money on. The catch? Three of the cars had serious accident histories, including one that had been completely totaled in a crash. The results of the challenge were startling. Despite rigorous scrutiny, most of the shoppers still couldn't pick out the good from the bad.
These consumers were just playing a game, but millions of Americans in the market for a quality used car aren't so lucky. Unscrupulous sellers rebuild wrecks, dry out and clean water-damaged cars, and roll back odometers so that the vehicles look fine to the average buyer. When they fail to disclose these questionable pasts, it's the buyers who lose.
So, what can consumers do to protect themselves? Experts say there are three things you can do to help guarantee you end up with a quality vehicle:
- Have the car inspected by a mechanic.
- Take it for a thorough test drive.
- Get a vehicle history report.
By going online, consumers can obtain a CARFAX Vehicle History Report, which can tell them everything about the car including accident and flood damage, actual mileage and details about previous ownership.
