Tips on buying a used car

Ok... this is probably something that a lot of people know already.

But as a summary review for myself and people who are considering buying a used car, allow me to go over them.

So you can't afford a new car don't want to spend too much money on a car?

On average new cars lose 25% - 60% of its value in the first 3 years
(Consumer Reports, http://editorial.autos.msn.com/article.aspx?cp-documentid=435466)

If you don't need the newest coolest car on the block, buying used is certainly a good way to go :D

There are, of course, many things to watch out for. 

You should pay attention to two main points:

1. the history of the car

2. the current condition the car

History:

Always get a Carproof report for a car you're interested in.

This thin pile of paper reveals accident records, lien status, and even possibility odometer changes.

If the seller refuses to show you a Carproof, there's a high chance you're being screwed over.

Current Condition:

Well this covers whatever may be left out by the Carproof.

What if an accident was not reported? What if the transmission is not fried but is on its way? What if the owner took out the radiator and you're too noob to know not a car expert?

Answer:  ALWAYS get a certified mechanic to check for you. And no, telling the 16 year old kid at your local Asian carshop does not count. A good idea is to ask BCAA or service department at a dealership to do a complete safety evaluation on the car.

Buying a used car is a lot of work. Plus, most of the time you don't get to have your favourite colour, model, or equipments. But hey, it's a sacrifice you'll have to make for avoiding those hefty depreciation :) and who knows, maybe you'll make a friend or two in the process.

Personally, I still shy away from buying a used car.

There's always this chance that the previous owner likes driving naked.