Cars in the High-Value Range
By now, you already have the bluebook value of the vehicle based on mileage and options, as well as a general idea of its value range.
If a vehicle checks out after a complete inspection and needs little maintenance or repairs, chances are that it has been well cared for and should be worth the high value range given in the bluebook. If the seller is asking a price in the high bluebook value range, and you have seen the same models advertised around this range, you should be in the ballpark. Personally, we would rather spend a little more for a well-maintained vehicle than a little less for one that has been neglected or minimally maintained.
Cars in the Mid-Value Range
If the vehicle needs a certain amount of repairs but checks out positively overall, total up the cost of the repairs and subtract this from the selling price. If you are able to deal and get the vehicle back into good condition and still be in the bluebook value range, then this vehicle can turn out to be a winner.
Cars Not Worth the Price
If after your inspection process is complete you realize that the vehicle is a can of worms with repair costs that are more than it is worth, forget it and be thankful that you saved yourself a lot of grief and money. Remember, the cost of the inspection was minor compared with what you would have spent later in repairs. See thee process as a learning experience and try again.
Smog
If you decide to make the purchase, one important thing to remember is that in some states, including California, you will need to get a smog certificate. So before you complete the transaction make sure that the vehicle will pass a smog test.
Before you go for the smog test, make sure that you have the vehicle title in hand. If the title is held by a different party, such as a bank or a leasing company, straighten it out before going to have the test done. When in doubt, ask the Department of Motor Vehicles (DMV).
Vehicles that have been totaled, repaired, and put back on the street should have Salvaged Vehicle printed on the title. However, this is not true in all states. In California (and possible other states – check if you are outside California) you can contact the local DMV office and obtain information about the vehicle you are considering purchasing, including the names of previous owners, the mileage at the last time the car was sold and if the vehicle has ever been totaled or sold as salvage. If you follow these guidelines to evaluate a vehicle you are interested in, you will have a good idea of its condition, safety, and value. This knowledge will help you determine what the overall condition of the car is and what repairs may be needed, and it will also allow you to better negotiate a fair price.
|
