Did you know that the FTC’s Used Car Rule requires car dealers to post a “Buyers Guide” in every used car they offer for sale to the public? The Buyers Guide should provide a great deal of information including the following key pieces of information:

* if the car is being sold “as is” or with a warranty
* what the dealer will pay under a warranty in repair costs (as %)
* a reminder of how difficult it is to enforce verbal promises and so called “verbal contracts”
* a description of the mechanical and electrical systems of the car being sold — including any major problems with the car

This Buyer’s Guide will remind you to do the following:

* get all promises in writing (how else can you prove what someone says?)
* keep the Buyers Guide as a reference after the purchase
* have the car inspected by an independent mechanic before you purchase

Buying a car from a private individual is of course much different than buying from a car dealer.  For one, private auto sales are typically not covered by the FTC’s Used Car Rule, or by any “implied warranties” of state law.

A private sale probably is “as is” —  meaning you, the buyer, will be responsible for anything that goes wrong after the sale.  Always get a mechanic to inspect the car for you and be sure to order Carfax report as well.  Save yourself the hassle and avoid buying a lemon!