The 3 things to do before buying a used car, according to JayLeno. (via CNBCMakeIt)
"If you're reasonably knowledgeable about cars or motorcycles and you like something, chances are other reasonably knowledgeable people will like it for the same reasons you do," Leno says. "That's what I think makes a car go up in value."report," Leno says. "These are people who know these cars, who check serial numbers and tell you what you've bought.
To pull the Carfax report, you'll need the car's 17-digit vehicle identification number, or VIN, which is assigned to every vehicle in the U.S. The report costs about $40 andabout the car, including service and repair information, vehicle registration and reported accidents. It will give you a good idea of how well-maintained the car is and what kind of issues the previous owner had to deal with.Used cars are rarely perfect, and every defect you find can help you negotiate the price lower. But make sure it's not anything major. You don't want to turn around and spend all the money you saved on the sticker price fixing extensive issues.
"Find as many faults as you can, faults that hopefully don't include a huge financial outlay to correct," Leno says. "Minor body damage, things of that nature."
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