In recent years, more and more car buyers are considering pre-owned vehicles as the world continues to confront supply shortages related to the COVID-19pandemic. Certified preowned dealerships may be the first place used car buyers go when looking to replace their current vehicles, but they might be able to find even better deals if they look at the private seller market.
Buying vehicles from private sellers was once relatively common but has fallen out of favor over the last few decades. In fact, the insurance comparison site The Zebra reports that roughly 61 percent of car buyers prefer to buy from a dealership. But that doesn’t mean buyers can’t still find great cars on the private seller market, especially if they keep a few strategies in mind as they begin their vehicle search.
• Get as much paperwork as possible. Many vehicle owners prioritize record-keeping,saving maintenance receipts for everything fromstandard oil changes to more significant repairs. When buying from private sellers, buyers should not hesitate to request a vehicle history report as well as all documentation of maintenance that has been performed on the car since sellers have owned it. Consideritaredflag if sellers do not have any paperwork or refuse to provide it.
• Be patient. Patience is a buyer’s ally when shopping for a pre-owned vehicle. Certified pre-owned vehicles at a local dealership have already been vetted and met certain standards to earn that designation, but buyers must do their own vetting when buying from private sellers. That requires patience as buyers peruse vehicle history reports provided by the seller (or gather them on their own) and don’t rush to buy cars that could ultimately prove to be lemons if they’re not vetted properly.
• Insist that a mechanic be allowed to examine the car. One of the biggest risks of buying from private sellers is that such vehicles are rarely under warranty when put up for sale, and sellers likely won’t guarantee parts. That underscores the importance of having a vehicle thoroughly examined by a certified mechanic before buying it. Private sellers should have no issue allowing this, especially when buyers pay for the inspections. If sellers are unwilling to let mechanics inspect the car, look elsewhere for your next car or truck.
• Confirm the number of owners. There’s no magic number of owners a vehicle can have before it’s considered too risky to buy, butthemoreowners a car has had, the less likely buyers will learn its full history. In addition, if sellers were not the first owners, they won’t know how the car was treated or driven prior to them buying it. That’s another potential red flag to consider before buying a car that has had more than one owner.
The private seller market can be a great place to find areliablepre-owned vehicle. But caution and patience is of the utmost importance when buying vehicles from private sellers.