Reliable transportation is always important to people that have to get to and from work everyday. Normally, talking about new vehicles and how to purchase them would be the subject. That would have been true before 2008.
It has been a year since the “cash for clunkers” program and the economy is tedeous at best even though car dealerships are constantly advertising. The car market is about new cars, but the average consumer is about buying a vehicle that he or she can afford. This means that they are looking for what is known as “cash cars” or cars with very low payments $300 or less. The cars, and trucks that are in demand now are $10,000 or less, but the really hot cars are the “Cash Cars”. These are cars and trucks that are less than $5000 dollars that most people can save up money and purchase, without financing.
Money talks is the rule of the game, but because of the cash for clunkers program last year finding a decent “cash car” can be a daunting task. So here is a few tips on what to look for when you are out looking to spend your hard earned money. Since most people use the internet to look for cars we’re going to use ads from one of the hottest sights for the cheap or should I say frugile buyer. The sight is called Craigslist.org, everybody uses this sight to advertise there cars including local dealerships. There are two examples below read it carefully. One is by a private party the other is by a dealership can you tell which is which. Keep in mind that all contact information has been removed.
These are actual internet ads from Craigslist.org
1995 Toyota Camry – $2500 (N.Dallas)
Date: 2010-08-11, 1:30PM CDT
1995 toyota camry for sale for $2500 or best offer. No problems with the car, AC and heater work very well, no mechanical problems. Call
2005 Toyota Camry LE -$3300(Dallas)
Date: 2010-08-11, 10:30AM CDT
* Moon Roof
* F&R Side Air Bags
* AM/FM Stereo
* Dual Power Seats
* Power Steering
* Dual Air Bags
* Xenon Headlamps
* Power Door Locks
* Tilt Wheel
* Cruise Control
* Side Air Bags
* Bose Premium Sound
* Air Conditioning
* Power Windows
* CD (Multi Disc)
* Alloy Wheels
* MP3 (Single Disc)
* MP3 (Multi Disc)
As the ads are laid out they ask you for a price and what equipment ison the vehicles, but ver crucial information is missing. First is the mileage, how many miles are on the car. This information is vital to making an informed decision. How did the seller come up with their asking price. Second problem there is no VIN (Vehicle Identification Number)information. More scams are run this way by showing a car and when you show up it isn’t what you called about. If you do decide to check out this car the first thing you should ask is “what is the VIN number ?” once you got that go to Carfax.com or call your local DMV to verify that the person you are purchasing the vehicle is the person you are dealling with.a smart idea is to go to a notary public and have them sign over the title there before you give them your money. Plus get a copy of their ID, for your records just in case there are some very good scam artists out there.I would do the transfer of title at the DMV to be safe.
To answer the question are these good deals? Well lets see, the prices below are for the cars at trade-in value because this roughly what they could get for these cars
they are asking $3300 for their vehicle as you can see below they can get more than that, then the next question you should be asking is what is wrong with this vehicle if they are asking half of the going price. This ad was posted by a dealer
BLUE BOOK® TRADE-IN VALUE
Using Perfect Miles for the year(normal driving 12K/yr.)
This vehicle looks good for being 15 years old (always get current pictures of the vehicle you are interested in, the date on the time stamp helps) but that’s where the the good stops. Below is the actual value of the vehicle the seller is asking at least a $1000 dollars more than it is worth. The price is just for starters, this car will be a nightmare for anybody that buys it. The main reason would be the miles, the next reason would be parts were are you going to get parts for a 15 year old car that are not going be from a junkyard. This car is a accident waiting to happen, there is no way this vehicle is going to be a safe vehicle just from the pictures you can tell it wasn’t treated very well, definitely pass on it,keep your money, keep looking.
BLUE BOOK® TRADE-IN VALUE
Using Perfect Miles for the year(12k/yr * 15 Years)