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Buying a vehicle can be exciting if you know the processes involved. However, your newly purchased vehicle can turn out to be a nightmare if you fail to do your homework well. Then it is important to do some research before purchasing any vehicle. In addition to the price and vehicle type, also consider other factors like reliability and safety of the vehicle before purchase. Below are some tips you can use when buying a new or used vehicle.
New Vehicle Sales
First, you need to research your vehicle before you purchase it. Decide what type of vehicle you want. Look for more information from the internet and read varieties of buyer’s guides and magazines. Use the Kelley Blue Book website to determine the best value for the vehicle you are purchasing. Determine whether you can afford the vehicle. If you intend to finance the vehicle through a loan, inquire from your bank or financing institution if they are ready to finance you. Dealers are very tricky people, so don’t succumb to their tricks. You have to be objective on what you want.
You can purchase a used vehicle from a private seller or from a dealer. There are several tips that you can use when buying a used car regardless of whom you purchase it from. First, do your homework well before making a purchase. Use the Kelley Blue Book website to determine the best value for the vehicle you are purchasing. Second, be sure you can afford the vehicle. If you intend to finance the vehicle through a loan, inquire from your bank or financing institution to confirm whether they are ready to finance you. Then, you have to be objective on what you want. Dealers are very tricky people, so be sure not to succumb to their tricks. Last but not least, insist on written agreement.
Used Vehicle Documentation
If you are a buyer, you must obtain the vehicle title from the seller. The title must be signed over to you, and you must also sign it after confirming the information. You also need to obtain a notarized bill of sale from the seller. If you don’t have a form to complete as a bill of sale, you can use Form 722-1(Declaration of Vehicle Purchase Price). This form must also be notarized.
Selling or buying a Vehicle without Paperwork
You cannot buy or purchase a vehicle without a title. The law advises against it. If you are a buyer, you need a title in order to register and title your newly purchased vehicle. Without a title, you will not be allowed to register or title the vehicle in your name. So, ask the seller to apply for a duplicate title and sign it over to you if the title is damaged or missing. Registration papers are not needed when registering or titling your newly purchased vehicle. So, it is okay if the seller fails to provide registration papers at the time of sale.
Oklahoma is one of the states that are constantly hit by floodwaters of hurricanes. Therefore, the supply of flood-damaged cars in Oklahoma is very high. Many of these vehicles were completely damaged by floodwaters and therefore labeled “totaled” by the insurance companies. However, the fact that these vehicles have been labeled as “totaled” has not stopped unscrupulous dealers from selling them. They normally clean up their titles and put them on the market for sale. So these vehicles may look okay on the look, but their on-board electronics and computer may be destroyed compromising some car operations such as engine’s ignition, timing, the fuel mixture, steering, braking, the transmission, lights, and other essential operations. Failure of these features can render a vehicle uncontrollable leading to accidents. You have to protect yourself from such vehicles. Since their titles have been recycled, you may not know whether these vehicles have ever been damaged by floodwater. So, you need to order the history report of any used car that you plan to purchase. This is the only way you can protect yourself from Flood-damaged vehicles.