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CHECK |
Flood File
Flood damaged cars are often moved to other states and sold
to unsuspecting buyers. Don’t get caught buying one of
these waterlogged vehicles - order a full AutoCheck
Report. |
Nowadays, vehicle
owners and drivers growing knowledge on car lead to better maintenance.
Some enthusiast pople can do "do-it-yourself" maintenance
and car care (wash, detailing, polishing, and waxing). In addition,
improved maintenance, factory warranty program, extended warranty
from a third party, and improvement in the car's design and quality
give people more confidence on buying used cars.
Many buyers
are taking advantage of the used car programs offered by the new
car makers. For example, Ford
Motor Co.'s red carpet program, allow consumers to buy an off-lease,
nearly new Ford Explorer for substantially less than a brand new
one. The used car went through an extensive inspection program.
Worn brakes were replaced, dings and dents were fixed, and then
the entire vehicles was covered by a like new vehicle warranty.
Ford is just one of a growing list of automakers offering a certified
used car program. Though the various offerings are essentially similar,
the details
vary between makers.
To qualify under
some programs, a car must have no more than 36,000 miles on the
odometer. Extended warranties vary widely, but are typically 12
to 36 months, though in some cases, that can be added on top of
the time reamaining on the original warranty. And some manufacturers
may also make special low interest financing available as an enticement.
Whatever the
individual details, the bottom line is that used cars customers
can now get the level of comfort and protection normally provided
only by the purchase of a new vehicle. According to the J.D.
Power's 2003 Used vehicle Sales and Certification Study reveals
that 38 percent of those buying a car or truck from a franchised
dealership opted for a vehicle covered by one of these programs.
The covered vehicles carry a premium an average of $1,000 for a
mainstream brand, $3,000 more for a luxury nameplate. Consumer rate
the warranties that come with certified pre-owned vehicles as the
most valuable feature of the programs, and they are willing more
for the added peace of mind.
Although the
programs seem perfect for consumers, one thing to remember is that
these auto dealership are in the business to make money. These dealer
are not required to give notification to potential customer about
the previous history of the car if the previous owners failed to
notify them. We know this from our own experience. We bought a used
1993 Mercedes Benz S-class from a local dealership in 1997. The
car had a Starmark
certification from Mercedes
Benz. Unfortunately, one of our employee had an accident after
one month, the auto body shop checked the car and found out that
the car had a previous bodywork done on the car and sustained frame
damage (bent frame). Well, we decided to run a AutoCheck vehicle history
report and found out that the car was indeed in a major accident
before. The car was repaired flawlesly by the previous auto body
shop that it can only be detected from the underbody and by a professsional
auto body repairer. Well, we learned our lesson not to trust any
dealership no matter how big and reputable they are because probably
they did not even run the AutoCheck vehicle history report.
Caveat
Emptor - "Let the buyer beware!"
Fortunately,
consumers now can access the AutoCheck
vehicle history report instantly online.
As with any
other major purchase, it's important to read the fine print carefully
with a certified used-car purchase. While the certified preowned
programs cover far more than the traditional "as is" warranty
offered on most used cars, they don't always duplicate the new vehicle's
complete, bumper to bumper coverage. So it is important to realize
that certified pre-owned programs are not a universal panacea. And
remember that as with any used car, there is no way to absolutely
ensure you're taking home the proverbial cream puff.
Tips:
Extended warranty offered by car manufacturer is not always the
best solution, there are third party extended warranty providers
that offered better coverage at much cheaper price. For consumers
who want to save money on extended warranty or learn about auto
warranty, you can read auto
warranty tips.
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