Your research is done, you've checked your credit report, secured your financing and are ready to
buy a used car. So, what do you need to take with you to the dealer to make sure your
purchase goes as smoothly as possible?
This handy checklist will ensure you are prepared for your used car buying
transaction before you walk onto the car dealer's lot.
- Driver's license
Many a car buying transaction is delayed because the potential buyer forgot to take his license.
You will need your license to drive the vehicle and as proof of your identity.
- Check or cash
If your purchase requires a down payment or if you are paying cash for your car, you will need
means to pay for it. Make sure to take your checkbook with you.
- Proof of financing
If you have arranged financing for your car purchase, you will need either a check from the
loan company or proof of your financing. Even if the dealer offers you better financing, your
pre-arranged loan will give you a basis of comparison and something to use to negotiate better
terms.
- Pricing information
Take the emails you received when you negotiated your vehicle price by email ahead of time.
Settling on a price by phone or email is the best way to save time and to negotiate from a position
of strength. If you are unable to do that, make sure to take all the notes you made when you were
doing your pricing research.
- Car inspection checklist
When you buy a used car, it is critical to inspect the car thoroughly and to know as much as
possible about the vehicle before you agree to buy it. Ask the dealer to provide a CARFAX.com
vehicle history report on the car or visit their website to request one yourself. This report will
indicate accidents the car may have been involved in, the number of owners and the mileage to help
you check for rollback fraud. It is imperative to take a used car to a mechanic for inspection
before you buy it. Negotiate the deal, but make your purchase contingent upon approval by a
mechanic of your choosing. A mechanic can raise the car on a rack to quickly inspect for frame
damage and can run general diagnostics to ensure the car is in good working condition.
The dealer should let you take the car for a day for this purpose.
- Insurance
You need auto insurance as soon as you drive your car off of the lot.
Since car insurance rates and policies vary dramatically, it is important to do
your research ahead of time. Confirm with your agent that your policy will cover the car as soon as
you buy it. Avoid buying interim insurance through the dealership, since it is usually unnecessary
and costly. Online insurance companies such as 21st Century Auto, ComparisonMarket.com and
ElectricInsurance.com can help you get quotes and compare rates quickly and easily. If you are
financing your car, the lender will require that you have full insurance on the car; liability
insurance is not sufficient.
- Your trade-in
If you plan to trade-in your existing car, make sure you drive it to the dealer. Before you take
it, get it in the best possible shape by cleaning it out and making any inexpensive fixes.
Wash your car and clean your personal belongings out of the glove box, trunk and other storage
compartments. Take your research on the trade-in value for your car so you know if you are
being offered a fair deal. Always negotiate your car purchase deal before you discuss your
trade-in, so you know how much you are truly being offered for your car. If multiple dealers have
used cars you are interested in, your final purchase decision may come down to whoever offers the
most for your trade.
