9 Myths When Buying a Used Car

Not many of us are lucky enough to be able to buy a brand-new car – and even if we could, most of us are too sensible to write off 50% of its value in the first three years.

This leaves us to buy from the sharks’ pool that is the second-hand car market. Few places are more dangerous, uncharted and likely to leave you penniless and heartbroken.

Fear not, though because we are here to help, based on years of buying dodgy cars, dealing with rogue garages and shifty salesmen.

We can’t promise that our guide will absolutely guarantee that you won’t buy a lemon – but it will reduce the likelihood.

Myth 1:

Once I’ve paid for the car and collected it then it belongs to me. After all, if my name is on the logbook then it’s mine, isn’t it?

Hmm, not always. The person who has their name on the logbook (or the ‘registered keeper’) isn’t necessarily the same as the legal owner of the car. If the car is stolen or still on finance, it still belongs to the original keeper or the finance company in law. An HPI check (or similar) could help prevent a whole world of pain.

This means that they car can be taken off you and you will need to sue the person who sold it to you to get your money back. You do know that this will be next to impossible, don’t you?

Myth 2:

If you ask your wife/husband for permission to buy a new toy and they reply: “Do what the f*ck you want” this constitutes their permission and allows you to buy it with a clear conscience.

It doesn’t. No, honestly, it just doesn’t.

Myth 3:

If a car is advertised for £10,000, but is really worth much more, this proves that there are some real bargains still out there, doesn’t it? After all, the recession is biting hard for some people.

If something looks too good to be true then it usually is and the car is probably stolen or cloned. A common trick is to advertise the car as an older model than it actually is, so it will look in great condition for the year.

You need to see the logbook, and copies of bills with their name and address on would be nice too. If in doubt ask to see something with their name and address on, alongside a photograph. A driving licence would work and while you’re at it a quick snapshot using your phone’s camera would be good too, just in case…

Myth 4:

All cars are the same these days; there isn’t much to chose between them for reliability.

Sadly, this just isn’t true. Reliability is hugely variable when you are looking at second-hand cars between 3 and 8 years old, which is the age that most of us buy them. If you buy a Land Rover, for example, it is six times more likely to break down than a Honda.

If you can’t be bothered to read the list then all you need to do is to remember to buy a Japanese or Korean car if reliability if your thing.

Here is the complete list of car manufacturers and their reliability:

Position	Manufacturer	Position	Manufacturer
1	Honda	18	MINI
2	Toyota	19	Peugeot
3	Suzuki	20	Volkswagen
4	Lexus	21	Rover
5	Mitsubishi	22	Volvo
6	Mazda	23	BMW
7	Subaru	24	SEAT
8	Hyundai	25	Jaguar
9	Kia	26	Audi
10	Nissan	27	Vauxhall
11	Skoda	28	Mercedes-Benz
12	Smart	29	MG
13	Daewoo	30	Chrysler
14	Ford	31	Jeep
15	Citroen	32	SAAB
16	Porsche	33	Renault
17	Fiat	34	Alfa Romeo
		35	Land Rover

 

Myth 5:

I know that buying a second-hand car from a dealer is more expensive than buying from a private seller but they give you a warranty, which will give me peace of mind.

Very true – but a warranty from a dealer won’t necessarily give you the peace of mind that you might imagine.

A lot of dealers will throw in a free insurance-backed warranty, so if you have a problem you’ve got to negotiate with the warranty company instead of the guy that sold the car. Most warranties are pretty short (three months is common) and only cover selected components failing rather than wearing out, which can be a hotly contested distinction.

You might also face a dealer who just refuses to help if you have a problem, and whilst you might have a solid case in law, are you going to sue him to get your money?

If you buy privately you will pay less than buying from a dealer and can use some of the money that you have saved to buy a third-party, independent car warranty. You’ll have the same level of protection (maybe better…) as you would if you had bought the car from a garage and will have saved money into the bargain. Companies that have a good reputation include Warranty Wise and Warranty Direct.

Myth 6:

A car’s fuel consumption is the most important thing to consider when choosing which car to buy.

Well, it might be, if you’re single and trying to pull an eco-bird. If you’re not then the fuel consumption is just one of the considerations though. Are you really going to notice an extra tenner a week at the pumps? I’ll bet that depreciation is going to make you squeal far more loudly so it might be worth having a closer look at which cars retain their value the best. Doing so could even support a ‘man-maths’ argument for a classic car with a nice big petrol-guzzling engine.

Be cautious if you’re thinking of buying a second-hand diesel car too. They can offer great fuel economy, performance and handling but they might just be a money pit. A three or four-year old car with 50-60,000 miles on the clock could leave you with a £1,500 bill if the dual-mass flywheel, diesel pump or diesel particulate filter (DPF) fail. I’m not saying that you should avoid them but a smaller-engined petrol car will offer similar performance and economy and might be more reliable.

Useful sites that will help you make a sensible and informed choice include WhatCar and Which. Ones that won’t help you at all and should be avoided include eBay and PistonHeads.

Myth 7:

A seller has offered to meet me at a motorway service station. That’s a good sign, isn’t it? Nice people sell nice cars.

Everyone who sells a car is a lying toe-rag. (Not necessarily true, but if you work on this principle then you won’t go wrong.) So do you really think that a lying toe-rag is going to be kind enough to meet you halfway unless they’re hiding something?

Never meet anyone anywhere other than at the address where the car is registered. And even then try and get inside to make sure that they do actually live there and aren’t just camping out on the drive of an empty house. I have a weak bladder that has been emptied in the house of every single car that I’ve bought.

Myth 8:

I’ve got a great trade-in price, so I’m going with dealer X; dealer Y offered me £500 less. It’s always best to go with the guys who offer the best price for my old car, isn’t it?

Forget all about the trade-in price. What you need to concentrate on is the ‘price to change’. Confused? Well, take the cost of the car that you want to buy and take off the price that you can get for your old car by selling it privately/trading it in. That’s the ‘price to change’.

You can see that it doesn’t matter how much the dealer offers for your car if your part-exchange it, what counts is the total amount of money that you need to find. Some dealers will offer you a great trade-in price but won’t discount the price of the new car at all.

Myth 9:

They can’t find the receipt but have old me that they’ve just had the car serviced. Receipts don’t really matter, do they?

See myth number 7 above. They’re lying. OK, you can check the cleanliness of the engine oil and see for yourself if a new air filter has been fitted but, as general rule, if they can’t prove it then it ain’t true.

What are your top second-hand car buying tips? We’d love to hear from you!