When Buying A Used Car from Its Owner, Beware of the Owner
Bearing Offers!
Getting started with used cars does not require a mortgage or a
student loan, but it is not free either. Buying used cars costs
money. That is why it is extremely important to know all the
possible factors that might lead the buyer into buying a used
car that is suspect.
In reality, it is easy for the buyer to get carried away by
convincing sales pitches, special offers, fantastic deals,
magnificent bundles, freebies, and the like. However, it would
take a really smart buyer to get the best deal when it comes to
used cars.
Hence, it is equally important to know the basic factors that
need to be considered before the buyer decides on a particular
used car, especially if the car will be bought directly from the
owner.
Here are some tips that might help those who are planning to buy
a used car from its owner.
1. When buying cars from the owner, the buyer should ask the
seller for the "vehicle registration document" or the so-called
V5. Through this document, the buyer will be able to know the
full details of the car's ownership like the name of the owner,
the address, and other identity details.
2. If in case the V5 is with the Driver and Vehicle Licensing
Agency or the DVLA, as told by the owner, the buyer should
verify the reason. If it is due to recording purposes where the
change of ownership shall be recorded, the seller should have a
green slip that is to be presented to the buyer in exchange of
the V5.
3. It is best for the buyer to ask the seller to see the
insurance policy for the vehicle. If the seller cannot produce
the document, it would be better not to buy the used car because
there is a high probability that he is not the real owner or
that there is something fraudulent with the transaction.
4. It is important to check if the identification details
stipulated in the V5 is the same as that written in the driver's
license. The address and the name should be the same on the two
most important documents. Other wise, it would be better not to
pursue on buying the car if there is doubt on the details.
These things should never be taken for granted because if any of
the conditions mentioned is present, there is a great chance
that the car is stolen. Therefore, it's better not to take any
risk.
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