When people think of buying a vehicle, they often imagine going to various car dealerships and looking at long lines of options before arriving at a decision. But you have more choices when purchasing a used car. Many individuals opt to go with a private seller. There are various pros and cons to each choice. But no matter what, you need to know what you’re getting into before jumping into a private sale.
Here are eight tips for buying a car from a private dealer.
Assess the Value of the Vehicle
You need to do some research before you purchase a used car—but especially one from a private seller. A lot of things go into determining the resale value of a vehicle, such as make and model, mileage, features, and overall wear.
You should get a comprehensive estimate of how much comparable vehicles go for in private party and trade-in sales. Knowing both of these numbers can help you get the best price. You can use a service such as Kelley Blue Book in order to get accurate estimates.
Meet in a Safe, Public Place
You’re meeting up with a stranger. Don’t go to their home. You don’t know this person, so you don’t know their true motivations. They’re selling you a car so it’s easy for them to meet you anywhere. Decide on a neutral location that’s in a relatively well trafficked. This is safest for both parties. If they refuse, this should be a warning sign.
Drive the Vehicle a Healthy Amount
You might feel nervous to test drive a vehicle when the owner is in the passenger’s seat. However, you’re doing yourself a disservice by not really testing out the car.
Give it some gas. Make sure the brakes are functioning properly. Put all the windows up and down. Try out the radio. If it seems like some of the details are off, that might mean there are deeper underlying issues with the vehicle. You should also walk away from any vehicles that smell like smoke. This isn’t just an annoyance; it can actually damage electrical components.
Have a Set Budget
You can’t go into the car-buying process without strict guidelines on how much you’re going to spend. Without a hard budget, you’re going to end up going for something that isn’t affordable for you.
Additionally, you’ll struggle to get a private car loan if you’re trying to purchase a vehicle that’s not within your means.
Is the Seller Rated Somehow?
In today’s world, it’s easier than ever to find private sellers who have some form of customer rating score. Sites such as eBay show all reviews associated with a particular seller. It’s not necessarily the wrong decision to buy from a private seller with no vetting, but it’s certainly more of a risk. Finding someone who has a proven track record of accuracy and honesty increases the likelihood that you’ll actually get a solid vehicle.
Do More Than Kick the Tires
You’re asking for trouble if you go into a private sale without fully inspecting the vehicle. Ideally, you’ll have a mechanic look everything over before you make a purchase. However, there are a few things you can look at yourself even if you’re not an expert on cars. Here are a few questions to ask yourself when checking the condition of a used car:
- Do any check engine lights come on when you start the vehicle?
- Do all the doors open correctly?
- Do the air conditioner and heater work?
- Do all the windows go up and down properly?
- Does the vehicle make any strange noises when you drive it?
- Are there any rust spots?
- Does the steering wheel stay put when you let go, or does it veer to the right or left?
- Are the windows fogging on the inside? (possible water damage)
Look Up the History of the Vehicle
Everyone who buys a used car should get a verified vehicle history report. CARFAX is one of the most popular and trusted options for this. The report will tell you any accidents or other major events that have happened to the vehicle. In most cases, you’ll want to avoid a car that has too many strikes on its vehicle history report.
Try to Negotiate a Bit
Buying a car from a private party can be nice because the seller is often motivated and will work with the price more than a dealership. Try to negotiate down a bit when you’re buying from a private seller. The worst thing they can do is refuse, or counter, your offer. It’s no loss to you and is fairly standard operating procedure in this type of sale.
Buying a vehicle from a private seller is a bit different than going to a dealership. It’s important you understand the variances before you commit to anything.
