Buy Used Cars Online
Buying a used car can be a challenge when you're doing it in person; buying one online can add a whole new layer of worry. However, by following the same common sense guidelines you would for an offline purchase, plus a few that are specific to the online experience, you can put that worry to bed -- knowledge is your friend and ally.
Obviously, you will want to ask the seller common questions regarding the history of the vehicle. A VIN should be provided, and you would do well to have a check performed by Carfax or Experian Automotive to glean what information you can regarding the vehicle's history.
If they are not provided in the auction listing, ask to see pictures of the engine compartment, drive wheel wells (ie. if the car is front-wheel drive, as for the front wheel wells) and the interior of the trunk, or the spare tire compartment if it is housed beneath the trunk. What you are looking for in these pictures is rust, waterlines or other evidence of damage commonly caused by flooding and long-term neglect.
It's nice to get a vehicle that has been spruced up a bit, but important to maintani a reasonable degree of skepticism. Very few people replace the carpet in a car or give it a new paint job without having had some kind of reason to do so. While there is nothing strictly speaking wrong with having such work done, ask the seller why the work was done -- it's important to get a clear picture of what lead to the repairs, mainly for the purpose of forseeing other work which might potentially need doing (related to whatever led to the carpet/paint/etc. work.)
Extended Warranties and Service Contracts
Conventional consumer wisdom has generally held that extendend and supplementary warranties were a waste of money. However, with the surge in popularity of the car lease in the 1990s, the face of the used car market changed, as low-mileage, reasonably clean and well-kept cars became more and more commonly available as those leases ran out and the cars were placed on the aftermarket. It is not uncommong to find used cars that are still covered by their original warranties, and not a bad idea to price an extended warranty or service contract (which covers the routine maintenance such as oil changes, tune ups, and so on) for your used car purchase. Avail yourself of online resources like Edmunds.com which can provide you with insights into potential mid-range maintenance and care costs for almost any used vehicle, based on reported averages, when you are determining whether or not a used car extended warranty is right for you.
Financing a Used Car Online
There are many options for financing a used car purchase that you make locally, from your own bank to dealer referrals and in-house dealer financing; local and online loan companies, your in-laws (good luck with that!) and more. Online, it can be more difficult to secure unconditional approval on an auto loan, since the due diligence on the vehicle is more difficult to perform than a local one. However, many companies exist who can help put your loan application in front of the broadest number of decision makers, offering you the opportunity to secure the best available terms for your purchase. As with any other financial decision, it pays to shop around for used auto financing terms.
