Car loan: 5 scams to avoid when buying a used car

Stolen cars, flawless occasions, significant discount in the event of a quick decision, blurred photos of the model on sale, incomplete announcements…

The victims of fraud when buying a used car are legion. Be vigilant when making your decision!

1. Vigilance with counter fraud

1. Vigilance with counter fraud

600,000 people a year would be victims of meter fraud: technical solutions to counter this are difficult to apply for an individual.

The best thing is to give up the purchase in case of suspicion: correlation age of the car, displayed mileage, condition of the vehicle in relation to the kilometers traveled, etc.

2. Watch out for stolen cars

2. Watch out for stolen cars

The certificate of administrative status of the vehicle preserves a priori the purchase of a stolen car.

Note, however, that the buyer of second-hand goods has 2 years to report a non-conformity revealed within 6 months of purchase: the make-up of the serial number is considered to be such.

And there was a car theft every 5 minutes in 2016 …

3. Outsmart the DOL

3. Outsmart the DOL

DOL is a mechanical defect known to the seller, but hidden from the buyer. In addition to your own observation and your test of the car, the maintenance book and the repair invoices guarantee the general condition of your purchase.

This does not prevent, before signing the check, from verifying the accuracy of the documents. Do they correspond well with the vehicle model and its registration?

4. Secure payment with or without a car loan

4. Secure payment with or without a car loan

After having subscribed or not a car loan, never partially or completely pay a seller whose coordinates and identity you do not know.

Do not pay money abroad. The safest solution lies in full payment at the seller’s home, mandatory administrative documents in hand signed by the parties.

5. Check the price of the vehicle

5. Check the price of the vehicle

Do not buy too much a “passion” car. Check with a professional, on the argus, by online estimate, the true value of the car.

Remember that it will have to be sold one day. The cost-revenue differential is key to answering the question: did I get a good deal?

Find your consumer loan at the best rate, it’s easy and free!