United Poles Federal Credit Union

? ? WHAT SHOULD I EXPECT WHEN BUYING A VEHICLE ONLINE? A fairly new concept is buying a car online. Yes, this is virtual car buying. While many traditional dealerships and places such as CarMax will entertain online purchases, strictly online car sales sites such as Carvana ® have the sole purpose of saving you a trip to the dealership and allowing you to buy a car from the comfort of your own home. Shopping for and buying vehicles online is becoming more mainstream. Kelley Blue Book suggests shopping online but test driving and closing in person. For cars sold online, you can expect to browse the inventory by way of a number of images of each vehicle from different angles, including the interior and exterior. Any known areas of concern, such as dents and dings, are highlighted in close-up images. Added and upgraded features of the vehicle are highlighted in images as well. The obvious drawback to buying a car online is the fact you're buying sight unseen, and many buyers want to see the condition of the vehicle firsthand before purchasing. To combat this, Carvana has a generous trial period, and afterward, the car can be easily returned for a full refund as long as it's within a certain mileage. Visit Carvana's website for the company's complete return policy. Again, as with any vehicle you purchase, you'll want your mechanic to inspect the vehicle. WHAT SHOULD I EXPECT IF I BUY FROM AN INDIVIDUAL? Oftentimes, buyers find great deals from individuals selling their old cars. Some factors to consider include the vehicle's make, model, year and mileage; if the car has been routinely maintained; and whether there is a written maintenance record for the vehicle. Has the car been in an accident? If so, was there any body or frame damage? If it's a newer car, is it still under warranty, and if so, is it transferable? And then there is making sure the paperwork, including the title transfer, is completed properly and according to the laws of the state. For example, TAVT taxes must be paid by the buyer, something that used to be a benefit of buying from an individual but isn't any longer. When purchasing a car from an individual, you will want to keep your safety in mind. Take precautions such as meeting in a public place, taking a friend or, at the very least, letting someone know with whom you're meeting and where you're meeting them. Finally, protect yourself and your investment by having your mechanic look over the vehicle before you purchase it. 7

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