The second hand car trade is worth about £34 billion a year, this recently has seen a fall in light of the governments scrappage scheme designed to get new car sales moving and certainly worked they enticed the buyers through the doors with a £2000 sweetener for their old car which could have been up to ten years old, but with this scheme coming to an end it is predicted that the used car market will rise again.
Indeed great bargains can be had in the used market, particularly in models where the residual has not held, however be warned the Office of Fair Trading state that about 20% of buyers have a problem and that 86% of these crop up in the first three months and the average cost of sorting any hitch is in the region of £450 – £500. So checks are vital and more than worthwhile, getting an inspection by a mechanic is easy and the AA and RAC can point you in the right direction as is a test drive, not forgetting having insurance, to listen for any noises that really should not be there.
Data checks are another must and these can cost around the £20 mark but most firms will do multiple vehicle checks for you and this will give you peace of mind that the car is not stolen, has been written off, mileage is correct and there is no outstanding finance against it.
You must always ask to see the V5 registration document, more usually known as the log book and if you are buying privately check the address matches, the vehicle identification number should match the document and will be on the car on a metal plate under the bonnet or on the driver door sill or occasionally etched on the window, if these appear tampered or scratched in anyway run for the hills and find something else.
Finally check the MOT and service history and the mileage adds up to the age of the car and gaps should ring warning bells and again look at something else it is your money and only exchange or transfer your money once the car is delivered to you.