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Wise Or Otherwise: Should You Buy Your Next Car From A Friend?
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Friendships are special bonds that are golden and are required by one and all. And, Friendship day is the perfect way to celebrate that bond. You may believe that buying a car from a friend may be easier than shopping from a dealership or a private seller. It is true that the entire process of buying a used car becomes simple if your friend possesses an automobile that matches your exact needs and budget. However, you need to ask yourself certain questions before purchasing your desired car from a friend.
Ask & Assemble Information before making the Car Purchase
The following questions will give you a clear idea that will assist you in knowing if buying your next car from a friend is a wise decision or not.
1. Don’t be shy. Ask: Is it a lemon?
Friendships and relationships can make certain things difficult to execute, for instance questioning the functionality of the car. However, you need to remember that you are investing a good sum of money, time and effort into buying the car. So, checking its viability is imperative. Test drive the car on your own, check all the technical features and ask expert advice from your local mechanic to know if the car is in good shape. You should ask for a vehicle history report that will give you the satisfactory answers and transparency regarding the functioning of your friend’s automobile. Running a history check does not mean you don’t trust your friend’s word but it surely protects you from buying a lemon. Therefore, once you get a positive response on the history report, you can proceed to purchase your friend’s vehicle.
2. Look Ahead, Inspect. Is the Title under your Friend’s Name?
Prior to your purchase, you need to do the ground work and get all the information about the car. Inspect and gain knowledge regarding the ownership of the vehicle. Make sure you know if the car has been completely paid off or if your friend still owes money to the lender. Carefully scrutinize the title of the automobile for outstanding liens. If the car has a salvaged title, it has sustained damages and might not be a wise purchase. Do not forget to check the title of the car before money exchanges hands.
3. Be Practical, Enquire: Is the Deal worth the Money?
Ascertaining the correct price for any purchase decision is an important task. A friend will not cheat you but it is best to know everything before purchasing your car. Shop around various dealerships and private sellers to know if you are getting the best price for your car. Obtaining the best car price from the dealership will give you a great leverage during negotiation process. Once you are completely satisfied with the price, make & model of the car, go ahead and make the purchase.
Be Wise & Purchase Right
Once you have everything in place, obtain your bill of sale and check for its accuracy. Being one step ahead and having clarity before you freeze the car buying deal will help you in making the right decision. Therefore, be wise and come prepared when you sign the deal with your friend to buy your next dream car.
Have you made a decision about buying a car from your friend? Give us the opportunity to take care of the financing part. Get in touch with us and obtain the best deals on private party auto loans. Enjoy subprime auto financing by applying now.
Williams Orchard as a professional writer shares his experience of auto finance and insurance through his articles. His articles are widely appreciated by people for explicit writing and detailed information that is easily understandable to all.
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