January 18, 2008, Newsletter Issue #26: Look for the Buyer's Guide on a Used Car

Tip of the Week

If you are ready to buy a used car, there are some things to look for when you visit the dealer.

Look for a Buyer’s Guide on the Car You Are Considering.
The guide is a requirement of the Federal Trade Commission (FTC). It is designed as a protection against used car fraud.

The guide should be clearly posted on the vehicle. If it isn’t, ask the dealer to provide it for your review. According to the FTC, the Buyer’s Guide includes useful information such as:

How the car is being sold (as is or under warranty).How much you can expect the dealer to contribute to repair costs if the car is still under warranty. The guide also offers useful advice. Buyers should:

Obtain written documentation of any promises or agreements.Retain a copy of the Buyer’s Guide for future reference.Have the used car inspected by a qualified mechanic before purchase.The Buyer’s Guide may include a signature line, which the seller uses as proof of the buyer’s receipt of the document. As always, be sure you read every word before you sign. Finally, (listed on the back) the Buyer’s Guide should include:

The name and address of the dealership.The name and address of appropriate contacts if you think you are the victim of a car dealer scam.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.