The average cost of a used car is over $33,000.
However, Americans also overpay by over $10,000 when they buy a used car.
You may get completely scammed when buying a used car and not even know it.
Used car dealerships exist to profit — end of sentence. If you know nothing about cars or don’t bring an experienced mechanic with you to vet a potential purchase, you could get ripped off.
One of the dirtiest tricks that used car dealerships employ is to buy damaged or salvaged vehicles dirt cheap or at police auctions. Some police and public auctions offer discounts for people who buy multiple vehicles at once.
The dealership will then have the cars repaired and aesthetically rehabbed as cheaply as possible. They will function long enough to fool you to buy it and get it off the lot.
Meanwhile, the car dealership profits by selling defective vehicles at an inflated price.
Here are several ways to catch a car dealer trying to cheat you red-handed.
Seatbelt Mold Check Test
Over 400,000 cars on the road have been damaged in floods. Flood-damaged cars are slowly corroding and apart from the inside.
And many Americans have no idea that the car they just bought has unseen flood damage.
The easiest way to check if the car you want to buy has flood damage is to pull the seat belt out as far as it will go. The unseen part of the seat belt that is nearest to the interior base of the vehicle may have mold on it.
Why would an aesthetically pleasing car have mold at the very base of the seat belt strap?
The only way that this hack won’t work is if the dealership was smart enough to replace the seat belt.
Seat belt and Manufacture Label Cross Reference
If a car dealer buys salvaged and damaged vehicles to cheaply repair, they should be smart enough to replace the seat belts.
And that act can expose them.
Pull the seat belt strap out of its opening as far as possible. There should be a label that certifies the manufacture date of the seat belt in the vehicle. The seat belt date on the vehicle may not be the same as the manufacture date of the vehicle, usually located within the door jam or on the VIN.
But if the manufacture label date of the seat belt is multiple years before or after the car manufacture date, then the vehicle could be a salvage put together with new parts like a Frankenstein monster.
Underside Inspection
When buying a used car, most people look everywhere except under the car.
If you are not a gearhead, hire a mechanic to come along with you for vetting.
A cheaply put-together salvage is more obvious to discern from under the car. A good mechanic can easily and quickly spot cheap repairs and components holding the underside together.
These are just a few tips to keep you from getting scammed while looking for your next car. Good luck and happy car shopping.
Read More
4 METHODS RETAILERS USE TO SCAM YOU INTO PAYING MORE
CAN ZERO-BASED BUDGETING HELP MAXIMIZE YOUR SALARY?
WHY FREE TRIAL OFFERS ARE USUALLY A SCAM
7 REASONS YOU SHOULDN’T BUY YOUR KID A CAR
Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.