Keeping your peace of mind6 of 7It used to be that buying a used car was a roll of the dice. "Buying someone else's problems" was how some have described buying a used car. Today's consumer can minimize the risk and save money while avoiding hidden problems.Companies such as Carfax and AutoCheck produce vehicle history reports. Based on the car's vehicle identification number, or VIN, these reports provide an array of valuable information including verification of the mileage and whether the vehicle was ever declared a total loss by an insurance company.Nerad suggests consumers truly worried about a used car's potential hidden problems can also buy a certified pre-owned car. Certified pre-owned programs vary from manufacturer to manufacturer, but in essence, certified pre-owned cars are vehicles that meet a manufacturer's established standards and carry some form of guarantee against defects similar to a new-car warranty."(Certified pre-owned cars) provide the amenities of a new-car purchase -- warranties and preferred interest rates -- that used car buyers haven't had available before," Nerad says. Related Articles:Car buying hints for 2010Checklist for test-driveBrand-new or new-to-you?Negotiating a car's priceRelated Links:Save on next new carAuto loan calculatorLease or buy car?6 car-buying mistakes advertisement
It used to be that buying a used car was a roll of the dice. "Buying someone else's problems" was how some have described buying a used car. Today's consumer can minimize the risk and save money while avoiding hidden problems.
Companies such as Carfax and AutoCheck produce vehicle history reports. Based on the car's vehicle identification number, or VIN, these reports provide an array of valuable information including verification of the mileage and whether the vehicle was ever declared a total loss by an insurance company.
Nerad suggests consumers truly worried about a used car's potential hidden problems can also buy a certified pre-owned car. Certified pre-owned programs vary from manufacturer to manufacturer, but in essence, certified pre-owned cars are vehicles that meet a manufacturer's established standards and carry some form of guarantee against defects similar to a new-car warranty.
"(Certified pre-owned cars) provide the amenities of a new-car purchase -- warranties and preferred interest rates -- that used car buyers haven't had available before," Nerad says.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
A little research could save you BIG on interest.