The used car market can be a tremendous source of value for budget-conscious motorists. Through it, you’ll be able to avoid much of the cost of depreciation, and thereby stretch your cash much further.
But the used car market can present a number of challenges. Sometimes, a deal that appears tempting at first glance can actually conceal a number of risks. Therefore, would-be buyers should make every effort to check the vehicle over before agreeing to the purchase.
Let’s take a look at a few of the more important checks.
Verify the logbook (V5C) and identity
Every vehicle sold in the UK should, in theory, come with a special logbook called a V5C. This document is issued by the DVLA and provides evidence of who the registered owner of the vehicle is. This information could be crucial if you come to resell the vehicle.
Ask to see the logbook, and establish that the serial number is genuine and that the seller is the rightful owner of the car.
Inspect full MOT and service records
Every vehicle older than three years is expected to undergo an annual series of safety tests. Make sure that you delve into the MOT history of the vehicle under consideration. If there are any recurring advisories, it might indicate a deeper underlying problem that could be costly to fix. A MOT history check could make the difference between you investing in a valuable asset and a costly liability.
Comprehensive physical and mechanical inspection
Get a good look at the car before you agree to pay for it. Make sure that the tread on the tyres is well above the legal minimum, and that the bodywork is free from dents and rust.
A test drive is a necessity. Make sure that you listen for strange sounds and that you pay attention to the feel of the car. If something seems off about it, then it might be best to err on the side of caution and walk away from the deal.
Review paperwork and legal compliance
A second-hand car could end up being a liability. If the vehicle has outstanding finance attached to it, then it could be repossessed later on, when the debt isn’t paid. Cars that have been stolen or scrapped can also sometimes find their way onto the used market. These vehicles could be unsafe and cannot be insured or legally driven on public roads.
Get the paperwork sorted before finalising the purchase. Confirm the tax and MOT details, insure the vehicle, and transfer ownership.
Check for recent recalls and safety notices
Certain vehicles might be subject to manufacturer recalls, which can be identified via the Motor Ombudsman. This could potentially make the car unsafe, impact its value, and ultimately create extra work for the buyer. Problems affecting airbags and brakes are particularly worth looking out for.
