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Buying used car from pvt seller vs dealer?


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In the past 6 years we have purchased 2 cars, both from dealers. We also purchased the extended warranty, and even though they were newer models both developed issues that paid for the warranty (not to mention the slightly higher dealer prices).

 

Perhaps we are unlucky, but the things we buy from individuals often don't seem to work out that well.

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Be sure to have a mechanic inspect the car before you buy. Definitely worth the money. Also check Consumer Reports and avoid any cars on their do not buy list.

 

We've had luck from private sellers and I don't think I'd buy a used car from a dealer.

 

Good luck!

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With a dealer you're likely to pay quite a bit more but MIGHT have some recourse if it turns out to be a piece of junk.

 

With a private seller you can negotiate yourself some wiggle room in the price (to provide a cushion in case it's junk) but the vehicle is "as is" and that's that.

 

We buy ours at auctions and assume $2,000 worth of work that needs to be done. We just presume it'll need a new engine or transmission and bid accordingly. At the auction you can bring a mechanic, and you can sit in the vehicle and start it but aren't allowed to drive it anywhere.

 

We've always wound up with a reliable vehicle and haven't yet exceeded that $2,000 buffer.

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If you buy privately, do your research. Do a carfax, have a mechanic look at the vehicle and point out any concerns, and so on. We have had good luck both private and dealer - the private is usually cheaper though. Unless you are paying cash, the dealer is often an easier way to get credit than arranging for credit somewhere else for the privately owned car.

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thanks....we have our credit lined up so that isn't an issue.

 

DH isn't a mechanic by trade but by necessity...LOL....he fixes ours when they break....so he has a pretty good knowledge of cars and knows what to look for...

 

the one at the dealer does come with 90 day/5000 mile warranty and of course the other one doesn't. The one by pvt seller is a better deal..IMHO...although 2 years older, it is less $$$, it comes with less frills (which means less $$$$ for repairs IMO) and has better mileage. We have only talked to the seller on the phone but DH is leaving work shortly to go see it and check it out.

 

The guy did talk about trading it but the trade in value he said they offered isn't much less than what he is asking....it also doesn't match up with edmunds.com for the FMV.

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If it were me I'd go with the private sale and talk him down if possible to provide that buffer.

 

But then lots of folks don't do what I do, so...j

 

eta, I'd also pay that loan off ASAP, assuming the insurance in your state requires you have comp & collision on a car if there's a loan against it.

Edited by bbkaren
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Make sure you get the original title signed over to you. I sold a car privately.... funny, it was in the driveway with a sign and the mail lady bought it while I had the flu. I chose to close at the bank teller (they paid cash). I literally drove the car to the bank, sold it, and called dh to come get me. I did have a dealer tag (I put the date of sale on it, it was good for 30 days, I don't think you can drive w/o a tag). My dh already signed the title, I signed it at the bank and turned it over. Its been awhile, but I think I got the information on DMV website (??).

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Just google "auto auction" and your local area...we go to one in Whitehall, PA (Allentown Auto Auction) and they have an auction every Tuesday, if I recall correctly.

 

They have a huge parking lot full of vehicles. It really is a lot of fun. lol

 

We normally will bid on cars up to about $1,000 and then bring them home and get whatever needs done, done.

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