Tips For Buying a Used Car in Portland

by Your Portland Financial Advisor on 03/14/2009

 When shopping for a used vehicle, take precautions to ensure you make a good purchase.

Researching the vehicle before you buy can save you money in the end.

Talk to the car dealer.  Some newer-used vehicles have warranties remaining on them. 

No one knows a vehicle like its driver, and the last owner can be a wealth of knowledge.  Ask your salesperson about the number of previous owners and to provide the name of the last owner.  Give that person a call and ask about the vehicle’s past performance, repairs made and the reason for selling.

Local Portland, Oregon mechanics can also be a useful resource.  They can check for wear and tear not visible to the naked, untrained eye.  The brake pedals are indicators of the history of the car.  If the pedals are worn, the car has been around the block a few times.  Also take the time to check the tires – see how old they are, if they were regularly rotated or if they need replacing.

If you don’t feel comfortable inspecting the car, many auto body shops and mechanics perform pre-purchase inspections, checking for problems before you buy the vehicle. Also, consider checking with Carfax or a similar organization for information on the vehicle title and whether the vehicle has been in any accidents.

Just as important as researching a vehicle’s background is determining whether it is safe and whether you can afford to insure it properly. Check with the vehicle manufacturer for recall information and determine whether the needed repairs were completed.

Look for functioning air bags, anti-lock brakes and working seatbelts.  The federal government’s Insurance Institute for Highway Safety tests vehicles and assigns them crash test ratings.  Research the crash test rating for the vehicle in which you are interested. 

To find out what the insurance premium for the vehicle would be, call your financial representative and ask for a premium comparison for different vehicles.   You may want to ask about the make, model and year of several vehicles and how those factors impact the insurance premium.

Looking for and buying a used vehicle can be exciting.  Taking the time to check out the safety, history and past performance of the vehicle helps ensure a sound purchase.

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