Shiny and new things also carry myriad issues for the buyer, and vehicles are no exception. As with buying anything substantial in value, there are risks associated with purchasing a new car. It can be as small as a dent on the door, to significant defects like a faulty airbag. Let’s take a look at all these potential risks and compare them to buying a used car.
What are the Risk Factors of Buying a New Car?
You Might Be Getting a Lemon Vehicle
One of the major concerns when buying a new vehicle is that you might end up with a lemon car. A lemon is a new motor vehicle that has major mechanical problems the distributor or manufacturer can’t fix. These could be engine issues, electrical, or others that the manufacturer fails to fix after repeated tries. Time and energy (and money) go into figuring out if a vehicle is a lemon, as it requires several trips back and forth to the dealership or mechanic.
The Vehicle May be Part of a Recall
Vehicle recalls happen when a significant defect or flaw threatens the safety of the driver and passengers. Honda recently recalled some models of their popular SUV, the CR-V, due to faulty airbags. When deployed, the airbags shoot out small fragments that could injure or blind passengers. A recall is often covered by the manufacturer, but if you don’t get the notice, you may be putting yourself in danger unknowingly.
The Vehicle May Have an Underpowered Engine
Plenty of people make the mistake of buying a vehicle with an engine not suited for what they need. This happens when a buyer goes to a showroom and test-drives a car. Often, it’s just the buyer and the sales agent in the car, so the driver doesn’t have an idea of how the vehicle performs when full.
The best way around this is by doing your research first on what engine you need and how many passengers will ride your car.
You May End Up with a Vehicle that is too Big or Small
New car buyers often misjudge a vehicle’s size and end up with either a car too small or too big for what they need. Again, this is where research plays a big part. If you have a family, it’s a good idea to take them along with you when shopping for a new car. It also helps to think through future uses of the vehicle. Even though it may be just you right now, if that could change in the future, consider the size accordingly.
What are the Risk Factors When Buying a Used Car?
Buying a used car has its own set of risks. For instance, you can still get a used lemon if you fail to check the VIN number and history of the vehicle you plan on buying. Let’s dive deeper and take a look at the other risk factors.
Used Cars Have More Hidden Problems
Some owners and salesmen choose not to declare any problems the car may have. These could range from bodywork done to hide an accident or recurring mechanical issues. Make sure you have a mechanic present when looking at a used car to make sure you don’t get a car full of problems.
The Used Vehicle Has a Shady Car History
The used car you plan on buying may have a not so good history, such as being in an accident or worse. This is why you need to check the Vin number so you can view a car’s history.
Used Vehicle Inspection Tips
When buying a used car, always check the current state it is in.
- Check panels for signs of repair and rust. Knocking on the panels can give you an idea if there was a repair done by the different sound a repaired panel makes.
- Tires have an expiration date, so make sure you check the dates on the sidewall. Also, check if the tread is still safe to use. Try to get used cars with at least 80% usable tread remaining.
- Check all the exterior and interior lights if they’re in working condition. Check the AC/heating as well. If it smells funky or it doesn’t get cold, the AC may have an issue.
- Check the fluids, brakes, and suspension. Anything that rattles could be a significant issue.
- Check the engine for signs of overheating. Oil leaking on the sides of the engine is not a good sign. Check the oil dipstick if there is enough oil and what color the oil is. If the oil is clear or light brown, the oil is still good. If it’s black and has deposits, the oil needs changing.
Final Thoughts on the Risk Factors of Buying a New or Used Car, Truck, SUV or Van
When buying a car you must take into account all of the potential risks. You must check vehicle history and technical parameters to understand whether it’s a good fit for you or not.
About the Author
Emily Andrews is a marketing communications specialist at RecordsFinder, an online public records search company. Communications specialist by day and community volunteer at night. She believes in compassion and defending the defenseless.
