Buying Of Used Cars In The U.S.A And Role Of Federal Commission
Federal Commission makes people aware of the information they should search about before buying used cars. It recommends the consumer to get the information about the dealer’s reputation from whom he or she is buying the car through his personal and reliable sources that may be family members, friends, and colleagues or through local consumer protection agency to know the repute of the car dealer.
Consumers can also try to locate a salesman, which is a reputable one. A good salesman will try to find a good car for the consumer. Due to the lesser frequency of these cars trading margins can be higher during used cars purchase and sale process. Other than the salesperson, the methods used most popularly for buying used cars can be the following. Through auction, rental car dealers, private party, a dealer in used cars, and new car dealer deal in buying and selling these cars.
The Federal Commission requires posting of buyers guide in each used car the dealer sells. It should include
1. Vehicle sold on as it is basis or has got a warranty
2. If repairs required how much of the repairs will be paid by the dealer
3. Oral promises are difficult to enforce by law
4. All promises made should be brought in writing
5. Buyers guide should be kept by the dealer even after the sale
6. The different kinds of mechanical and electrical systems in the car should work and the potential owner should know the problems in the car.
7. Consumer should exercise the right of independent inspection of the car before buying it