Should You Buy A Used Car For Sale By Owner?

At some point, buying a new or used car becomes a necessity for all of us. As with anything of substantial value, it is best to avoid any possibility of impulse buying. Impulse buying simply means buying without proper forethought and reacting rather than following a well thought out plan. Impulse buying often leads to regret or remorse on the part of the buyer, especially when buying a used car.Some of the best deals for used cars can be had when purchasing from a private owner, although there are more dangers associated with private sales since there are no guarantees that are usually found when buying from a car dealership. There are some important facts that should be considered before buying an owner used car.
First, seldom does anyone sell a car unless the car has something mechanically wrong with it unless the car is older and trade-in value has diminished so much that selling it as the owner would bring a higher price than as a trade-in. It must also be noted that when buying form an owner, you will purchase the car as is, including all of the problems that the previous owner had, which now become your problems.
If the car does have mechanical problems, will the seller-owner be forthright and honest enough to let you know what the problems are before completion of the sell? This fact must be considered above all else since it could lead to extensive repairs and maintenance.
Still, there are cars that you can purchase from the owner that are in great condition. The seller may want to sell the car as a for sale by owner transaction because he believes he can receive a higher price than as a trade-in on a newer model.
Owners may also demand a price that is equal to what similar models are being sold for at the local car dealerships. Unfortunately, the owner cannot offer the level of guarantees and service that a local dealership can offer and will soon find that he must lower his price if he wishes to sell his car. Great deals can be found buying from private sellers as opposed to buying from a local car dealership. However, the chances of pitfalls and financial disaster in terms of repairs and maintenance are a great deal higher with a for sale by owner transaction. Caveat emptor - let the buyer beware is the order of the day, but excellent used cars can be found from owner/sellers.

by Woods Richard