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The profile will help you find the car you really want. But you still have to follow some basic do's and don'ts in order to get that dream car into your garage:
DO
Turn into an automotive "private eye", with the Internet as your information-gathering tool. Check current trade-in and market values, as well as recalls on that model year. Read reviews, and study reliability information and safety ratings. There are a number of quality websites that offer this information at no charge. If everything checks out, take your research to the next step: investigate the specific car you plan to purchase, and order a specific used vehicle history report. Consider the rate of ownership change. Ideally, a 2 year-old-car should have one owner, and a five-year-old car shouldn't have more than two owners. Multiple owners may be a warning sign. Also, remember to ask the owner or dealer to provide service records. Note: dealerships will only have service records for vehicles they service in-house. If they do have records, however, chances are that they'll be well organized and complete.
DO
Study pricing. Often, a significant price fluctuation - a 2002 Ford Explorer for $2000 less than market, for example - will indicate a great buy - or a lemon in waiting.
DO
Shop options. As vehicles age, the options price gap narrows. Loaded used cars cost more, but deliver desirable options for much less than original cost. Well-optioned, deluxe models are easier to resell than base models of the same vehicle.
DO
Get everything in writing: Especially price, terms, repairs, and/or trade-ins. This should be written into the sales agreement.
DO
Know the difference between age and depreciation: With late-model used vehicles, the previous owner has absorbed a big chunk of the vehicle's total depreciation. Try to buy before the depreciation curve levels off and while the car is as new as possible. This generally falls in the two-to-four year old range, although it varies by make and model. Study prices versus vehicle age to determine that ideal window.
DO
Investigate the lease and rental market: There are many excellent lease return cars on the market, especially cars driven by an individual for personal use, or in a company. Motor pool cars (e.g. utility company vehicles), less so. Maintenance schedules are excellent on rental cars, but drivers do abuse them.
DO
Protect your investment: The remainder of the original manufacturer's warranty can usually be transferred. Seriously consider purchasing an extended warranty (3 months,/3,000 miles) free, and low-cost protection beyond that. When shopping any warranty, check the fine print, watching for excessive deductibles. And be sure the automaker recognizes the warranty - if not, you may as well use your warranty as a floor mat.
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