10 essential things to verify when purchasing a used vehicle

So, you’ve decided! You’re going to buy a used vehicle. Before you embark on such an important investment, have you thought of everything? To help you avoid any surprises or pitfalls, here are 10 essential things you should verify before going ahead.

Assess your needs and means

To make the right choice, you need to know yourself: know your financial means, so that you are aware of what you can pay for the vehicle, but also know your needs, in order to select the ideal vehicle.

Find a trustworthy dealer

You found the vehicle that suits your needs at a dealership. Now, make sure that you are dealing with a dealer that has a permit that is in order and who doesn’t hesitate to display it.

The vehicule data sheet, so important

The dealer must ensure that all vehicles have a vehicule data sheet describing it. When you consult it, you will learn some important information such as, among others, its price, complete description, kilometers traveled, but also the details relative to an eventual guarantee.

The inspection and test drive

Before buying a used vehicle, take a test drive in order to evaluate its state. Also, ask for the inspection report for the vehicle. The dealer has an obligation to allow you to consult it.

All vehicles are covered by guaranties

A used vehicle that is bought or leased is automatically covered by various guaranties, provided by law: usage guarantee, guarantee against hidden defects, manufacturer’s or dealer’s guarantee, etc. Ask the questions and be informed. What’s more, the dealer can also offer you different types of added guaranties, which is not a bad idea when purchasing a used vehicle. You should decide which type of guarantee is best for your needs.

Know the vehicle’s history

To discover the provenance of a vehicle, the kilometres, if it was involved in an accident or crash and much more information on its history, consult CARFAX Canada.

Is the vehicle free of debt?

Nobody wants to pay someone else’s debt! Before purchasing a vehicle, make sure that the previous owner has completely paid it off by consulting the Register of Personal and Movable Real Rights (RPMRR).

Choose the right financing formula

Various financing options are available for you and each one has its advantages. By analyzing and comparing them you will find the one that suits you best. For your vehicle’s financing, make sure that the dealer works with many recognized financial institutions.

Selling your old vehicle through the dealer

When buying a new vehicle you can choose to sell your old one with the help of the dealer. It is an accommodation sale and this transaction must then be included in the contract for the sale of the new vehicle. This will allow you to save part of the applicable taxes on the price of the new vehicle.

Read the contract well

It is essential to read the entire contract before signing it. Until you’re ready to buy, do not sign any document. A sales contract cannot be annulled except in very precise circumstances. So, be well informed on the subject. Once the contract contains your signature, you are obliged to honor it!

Finally, in order to purchase in complete confidence and with peace of mind, do business with dealerships that are members of l’Association des marchands de véhicules d’occasion du Québec (AMVOQ) and consult CARFAX Canada.