Buying a car is a big deal so it’s important to have checklist and all of the proper paperwork information prior to shopping.
This article will help you locate the information you need to cover yourself whether you are purchasing new from a dealership or used from a private party.
Protect yourself
The following are several tips the DMV offers to car buyers for protecting themselves during the car purchasing process:
Know that there is no ‘cooling off’ period when you purchase a vehicle from a dealership.
Be aware of the laws regarding new and used car purchases.
Research the vehicle you want to buy so you have a clear idea of average pricing.
Read your purchase contract until you understand it, before you sign it.
Read your warranty until you are satisfied you understand it.
Compare interest rates, shopping can surprise you.
Be aware of the DMV registration fees you will be expected to pay.
Be aware that on vehicle documents if the word ‘or’ appears between the names of two co-owners that gives one the right to sell the vehicle without consulting the other.
Conversely, putting ‘and’ (or a /) between the names of both owners indicates the necessity for both parties to sign off on the sale of the vehicle.
Last, if you are going to buy a vehicle out of state, be sure you know about any
restrictions first.
Purchasing a car from a private party
Obviously there are big differences in the way you must handle a transaction with a private seller as opposed to a dealership purchase. Read more
