InstaVIN Provides the Answers You Need to Buy a Used Car

According to www.usedcarnews.com, Abernathy Motor Co. has been fined by the FTC for failing to display a “Buyers Guide” on the used cars they have for sale. This is in direct violation of the Used Car Rule, which states that before offering a used vehicle for sale, you must post a Buyers Guide on the vehicle.

The Buyers Guide is a disclosure document that provides consumers the following information regarding the purchase and warranty of a used vehicle:

–         Vehicle, make, model, model year, and vehicle identification number (VIN).

–         Whether the vehicle is being sold with a warranty or “as is”

–         The total percentage of repair costs a dealer will pay under warranty

–         Major problems that the consumer needs to be aware of

–         Major mechanical and electrical systems of the car

In addition, you will find the following verbiage on a Buyers Guide:

–         That oral promises need to be put in writing (as they are difficult to enforce)

–         That the Buyers Guide should be kept after purchase for future reference

–         That the car should be inspected by an independent mechanic before purchase

Apparently, the FTC had warned 11 used car dealerships in Jonesboro, Arkansas about failing to comply with the Used Car Rule by neglecting to post Buyers Guides on thee used vehicles they had for sale. All but Abernathy Motor Co. agreed to comply. Violations could cost them up to $16,000 each.

As a consumer that is shopping for a used vehicle, you need to have as much information as possible regarding its past.   A Buyers Guide is helpful, but it won’t give you all the details you need to know in order to make a smart buying decision.

So, what can you do to make sure a used vehicle is actually worth the asking price?

Besides getting it inspected by an independent mechanic, you’ll want to download a vehicle history report to find out details regarding previous incidents that may have occurred. These incidents may include:

–         Theft

–         Flood

–         Fire

–         Total Loss

It’s important that you find a vehicle history data provider that receives information on these incidents on a regular basis. Luckily, there is a company called instaVIN who provides real-time access to this information. They have a partnership with the NMVTIS (National Motor Vehicle Title Information System), which is a federally regulated database that is designed to reveal real-time incident data in order to help prevent consumers from purchasing lemons. When you download a vehicle history report from instaVIN, you’ll be accessing these details in just a matter of moments.

Whether or not there is a Buyers Guide on the used vehicle you’re about to purchase, you’ll want to run a vehicle history report to find out all the details you need to know. Download the instaVIN mobile app for convenient, easy-to-use, real-time vehicle history reports for as little as $2.99 each!

2 comments to InstaVIN Provides the Answers You Need to Buy a Used Car

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