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“The Credit Union has something for everyone, from someone who is financially savvy to a person who just needs basic services.”


– Amy C.
Member Since 2010

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Private Party Purchase Tips
Private Party Purchase Tips

When purchasing a used vehicle from a private party, make sure you get a reliable vehicle at a fair price by following these tips:

 

Secure Your Financing
Before you start shopping for a used car, get pre-approved for a SchoolsFirst FCU Auto Loan. If you settle your financing before you start shopping, you’ll start out ahead of the game.

 

Know What Questions to Ask
An informed buyer is a smart buyer, so don’t be afraid to ask questions. Start with these basics:

  • How long have you owned the car?
  • Why are you selling it?
  • Can I review the vehicle’s repair and maintenance records? (If a seller says he doesn’t have the records, ask him for the name of the mechanic or shop that works on the car so that you can review the records there. If no records are available, walk away.)
  • How has the car been driven—around town, daily commute, long trips?
  • Is the seller a vehicle dealer? Is the title issued in their name? (If you suspect that a seller is not a private owner but an unlicensed dealer, be extremely skeptical. These individuals do not always comply with state or federal laws governing the sale of vehicles and often peddle cars with “shady” pasts and serious mechanical problems.)
  • If it seems like the price is too good to be true, ask if the car has a salvaged title, and immediately walk away if it does. Salvaged vehicles are often uninsurable and a risky venture since they have typically incurred major damage at some point.

 

Remember, if a seller refuses to answer your questions do not hesitate to walk away from the deal.

 

Do Your Homework
The seller wants to make the sale, so you might not get a straight answer to all your questions. To be safe, use these techniques to make sure you know the truth about the car you want to buy.

  • Have a reputable mechanic inspect your vehicle.
  • Obtain a Vehicle History Report at www.carfax.com. Type in the vehicle identification number (VIN) and, within minutes, you’ll know if the car has ever been reported stolen, been wrecked, had its odometer tampered with, had multiple owners, and much more. The minimal cost is a small price to pay for peace of mind.

 

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