Buyers Guide to Warranties on Indiana Used Cars

The Federal Trade Commission’s Used Car Rule states that all used cars that a dealer offers should have a Buyers Guide posted in the vehicle. This guide is helpful for first-time or veteran buyers of used cars, and can prove to be valuable in ensuring that you get only the best deal. Buyers are suggested to keep the Buyers Guide after the sale for future reference.

The Buyers Guide should tell you if the vehicle comes with a warranty or is sold ‘as is’, as well as the percentage of the repair costs covered by the warranty. The Buyers Guide also recommends for buyers and dealers to settle the deal’s terms and conditions in writing, because spoken promises are difficult to implement. The Guide reveals specifications of all major mechanical and electrical systems, as well as some problems in these systems that you must look out for.

The buyer should have the original or a copy of the vehicle’s Buyers Guide. The guide, as part of your sales contract, should contain all agreed upon details on the coverage car’s warranty or lack thereof. Used cars may come with a variety of warranties.

An ‘as is’ warranty means that the vehicle basically comes with no warranty. If the negotiation goes well for the buyer and the dealer agrees to pay for some repairs, this must be indicated in the Buyers Guide. In a warranty of merchantability, the dealer covers the costs for the repair if the buyer can prove that the defect or problem existed before the time of purchase.

An unexpired manufacturer’s warranty basically means that the vehicle is still covered by the manufacturer’s warranty at the time of purchase from used car dealers Indianapolis lots. Although many used car buyers consider this as the ideal warranty, most used cars don’t have unexpired manufacturer’s warranty due to their age.

Some used car dealers Indianapolis has offer service contracts with the purchase of the vehicle. These service contracts do not come with the price of the vehicle, as warranties do, but can serve as car insurance for specific car issues that may occur after the purchase.

Lastly, you must make sure that the Buyers Guide posted by used car dealers Indianapolis adheres with all requirements of the Used Car Rule. It may be best to bring references with you when choosing and purchasing a used car.