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Every year there are many more used cars sold than new cars, but when the financial going gets tough, the tough really get going -- to used-car lots.
Even in a bad year, as many as 40 million used cars will change hands in the United States, compared with the estimated 7.67 million new cars sold in 2006.
But many of those buyers haven't a clue about how to tell a good used car from one that likely will become an albatross not too many miles down the road.
While the first and best advice is to only buy a used vehicle from a reputable dealer or from someone who can prove that they've owned the vehicle since new, that isn't always possible.
And one thing is true in the used car market: There are a lot of people out there who will try to trick you.
A friend of mine recently went shopping for a used car for her daughter and discovered a very clean-looking Toyota Corolla had actually been pieced together from three different wrecks.
So here are some things you can use to evaluate the condition of that low-mileage gem you've discovered:
- Get a CarFax report. This service and others like it have done more to arm consumers with useful information about used cars -- whether they've been wrecked or had other problems -- than any single innovation in the last decade. But be warned that CarFax doesn't catch all vehicles that have been damaged. If no insurance claim was filed, it's possible a car could have been in a wreck and it won't show in the report.
- Beware of cars with out-of-state titles. One of the biggest frauds in the used car market is the "washing'' of titles to remove the salvage designation that indicates a vehicle was totaled by an insurance company and then rebuilt or refurbished. If you're in California and you're looking at a car with an Alabama title, ask a lot of questions and try to get the name of the previous owner if it's not the seller.
- If you're looking at a 4-year-old Ford, for example, copy the vehicle identification number and take it to a Ford dealer and ask if they will run the service record through their computer. Some dealers will do this as a courtesy or charge a fee, but the result should be a record of warranty work done on that vehicle. Recently I did this and discovered the car's transmission was replaced under warranty. That didn't make it a lemon, but it was an added bit of knowledge that the vehicle hadn't been "trouble free'' as the seller represented.
- Beware of cars with no records of oil changes and other routine service. Most of us throw that receipt for the oil change in our glove box and it's still there when we sell. No receipts could indicate a poorly maintained vehicle or a vehicle that has a suspect past.
- Look for evidence of major body or paint work. Stand at the back or front of the car and look down the side of the car for any ripples in the bodywork. Also, check door jambs and other areas for signs that the car's color has been changed or there's been recent spray painting.
- Pull up some of the carpeting and look for sediment or signs of mildew. Given all the hurricanes recently, it's a safe bet that a lot of used cars on the market have suffered water damage, which will lead to rust and electrical issues very quickly.
- Here's an oldie but goodie: Check for excessive wear in the rubber brake pedal pad. That may indicate that there are more miles on the vehicle than what is on the odometer.
Lastly, if a deal on a used car seems too good to be true, it probably is. Even in a bad economy, no one is going to give away a car that's worth $6,000 for $3,000.
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