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by Dorothy C. Thompson (Editor), Stephen R. Cady (Author)
I know a lot of people who are not interested in used cars. They want the smell of a new car, the factory warranty, to be the first person on the block with that model. These are all valid reasons, but there is a flip side to the story: The value drops dramatically once you're off the dealer's lot, you are roped into monthly payments for the next half decade, you get to deal with that first door ding on your baby (or the stress of parking miles away and worrying that nothing will happen), you need to carry more insurance since the bank owns the car itself and wants it covered (as opposed to just carrying liability coverage), and the "new car smell" is actually a bunch of unhealthy chemicals used in manufacturing the interior parts of your car. A used car if purchased wisely, maintained correctly, and driven carefully, can be very reliable transportation, retain it's value for many years, and in many cases be sold for a profit! I have 40 cases to prove it! However, an unwary buyer can really wind up getting taken advantage of. It takes no effort at all to pay too much for a used car, to overlook body damage, to miss needed repairs that can run into several thousands of dollars, or to buy a car that wasn't even that person's to sell in the first place! You can learn a lot about a car from the current owner, but you need to take out your magnifying glass and put on your trench coat (do some detective work) because not everyone selling a car is completely honest. As a matter of fact, I would say less than half the people you meet selling cars will tell you the whole truth about it. Still, with the tips in this book, and a little "smart" work, as opposed to driving all over town chasing cars that sound good in the ad, you can find the car of your dreams for less than you thought it would cost, and be happy knowing that you paid the right price - and can sell it later and recoup your full investment (or more)!
Author Biography
How did I learn so much about buying cars? One way was by making mistakes that I (and you) can learn from. When I was sixteen I wanted a Mustang. I only had about $300 saved up. I found one with cool racing stripes that was the year I wanted (1970). It needed engine work, but my close friend and his father had successfully fixed up his Ford Capri that he bought for a good price because it had been in a fire. They offered to help me with this one. What a mistake that purchase was! The three hundred I spent on the car was the cheapest part! Through the next couple years, I found out the car needed a new engine, the transmission rebuilt, new front brakes, major body work, interior work, electrical work, and more. I bought repair manuals and did all the work myself, recruiting help from friends along the way. At one point I had four friends -each with a different type of sander- working on my car one Saturday afternoon, so I could go out with them that night. I was determined to sand off all the old flaking paint (and those cool racing stripes unfortunately) that weekend. I don't think I made it-but boy did all my friends look funny covered with green dust from sanding that car! By the time I graduated from High School, that Mustang did not bear any resemblance to the piece of junk I bought. And what a learning experience! I learned all about mechanics, body work, paint, performance, and being nickel and dime'd to death for parts. The experience I gained put me on the road to a career working with cars, working in several body shops, eventually owning my own high performance shop, and building a car myself (Cobra) from just a body and frame. Through the years I myself personally have owned (bought and sold), 3 Mustangs, 4 Corvettes, 4 VWs, 5 Hondas (3 Civics, 1 Accord, I Insight), 1 Toyota, a 280Z, an MGB, 3 International Scouts, 1 Land Rover, 1 Chevy S10 Pickup, 7 Ford Broncos, A BMW, A Firebird Formula 400, 2 Mazda RX7s, a '56 Ford Pickup, a Dodge Indy Truck, a Ford Explorer, a Sunbeam Alpine, 1 Jeep Cherokee, A Chevy Blazer, and built my own Cobra from a body, frame, and 12 boxes of parts. You can add 17 motorcycles and about ten boats to the mix too. With one or two exceptions I have enjoyed and made money on all of them! And I'm still in my forties!
