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USED CAR SALES - Consumer Information
Buying a used vehicle can have its advantages. It allows many individuals the opportunity to own a vehicle, to purchase an additional vehicle, or to purchase a type of vehicle that they could not afford to buy new. However, before buying a used car you need to take the time to do your homework and,
Ask yourself these questions when purchasing a used vehicle:
- What type of vehicle will best suit my needs? A sedan, coupe, SUV, station wagon, or van?
- How much can you afford to spend? Stick with that figure - Do not be pressured into spending more!
- What is the cost to operate the vehicle? Include insurance, fuel, maintenance, and repairs.
- How much will it cost to finance the vehicle? If you intend to finance your purchase, remember that the cost of financing will depend on your credit worthiness, the amount of your down payment, the interest rate, and the length of the loan.
- What options do I need or want and how much will that add to the cost of the purchase price?
- Does the vehicle come with a warranty or do I want to purchase an extended warranty (service contract)?
- Can I change my mind within three (3) days after I buy the vehicle? NO! There is no 3-day cooling-off period for motor vehicle sales.
Tips for getting the best deal
- See that the Federal Trade Commission's Buyer's Guide is posted on the vehicle as required by law. The Buyer's Guide will state whether the vehicle comes with a warranty or that the vehicle is sold as is and what percentage of the repair costs a dealer will pay under the warranty if one is provided. Remember, that a vehicle sold as is does not come with any warranty regardless of the condition of the vehicle. When you buy a used car from a dealer, get the original Buyers Guide that was posted in the vehicle, or a copy. The Guide must reflect any negotiated changes in warranty coverage. It also becomes part of your sales contract and overrides any contrary provisions. Keep the Buyers Guide for reference after the sale. FTC at www.ftc.gov
- Shop around by checking out new car dealer's used cars, independent used car lots, and vehicle sales by private owners. However, be careful when dealing with an unfamiliar individual or business. You can call the Florida Division of Motor Vehicles at 954-797-8436 to make sure the dealer is licensed.
- Always inspect and test the drive vehicle. If possible, have the vehicle checked out by a certified mechanic or someone you trust. Ask the seller for the vehicle's maintenance records.
- Find out as much as possible about the vehicle's history including the vehicle's title history or whether the vehicle has been in an accident. You can contact the Florida Division of Motor Vehicle or use the services of Carfax at www.carfax.com
- Be prepared to negotiate the price including add-on such as service contracts and financing and never discuss a trade-in until you have negotiated the best possible price of the vehicle you are considering purchasing and only after you have researched the value of your trade-in.
- Get information on the car model and year including options and price by using the available resources such as publications at the library, comparing newspaper advertisements, and the Internet, i.e., www.kbb.com and/or www.edmunds.com.
- There is no “lemon law” for used car purchases in Florida .
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