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PrintBuying Used Vehicles
If you don't want to use a vehicle you already own for your business, there are numerous advantages to purchasing a used vehicle instead of a new one. The main advantage is this: as soon as you drive a new vehicle off of a dealer's lot, it immediately becomes worth much less than the price you paid for it. In fact, it is not unusual for a vehicle with just 10,000 miles on it to be worth several thousand dollars less than a new car of the same model.
We strongly discourage you from buying a brand new vehicle, especially if you are just starting out in business.
Here are some tips for purchasing used vehicles:
- When you find a vehicle that you are thinking about buying, research its value in a "blue book." Be wary if you are being charged significantly above book value. "Book value" is the amount that an auto dealer's guide says that a vehicle of a given make, model, and year is worth. Book values are usually compiled by polling a number of dealers to find out what prices they have been getting for vehicles they have recently sold.
- Have any vehicle inspected by a mechanic you trust before buying it.
- Use any "defects" that your mechanic finds in the vehicle to negotiate a lower price.
- Get any warranty information — especially guarantees that the vehicle will pass emission and safety inspections — up front and in writing. Most dealers are required to provide this under state and federal laws.
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