3 numbers you should check before deciding whether to lease or buy a car

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By educating yourself on your tips for option trade in car buying a newspaper needs, and your rights and responsibilities as a consumer, you will significantly lower your chances of financial risk. It will also significantly decrease the odds of you falling victim to those wishing to take advantage of you or your family.

The following is a basic guide to purchasing a new or used vehicle. To see specific information regarding practices that would be considered a violation of the Consumer Protection Act, please see our Before you Buy site. It is important for you to identify your automotive needs and budgeting restrictions before you begin the process of obtaining a new, used, or leased car.

Some general questions to ask may include:. You will find the process much easier if you also understand that you have the right to shop and compare not only your local auto dealers, but tips for option trade in car buying a newspaper your financing and warranty options.

After you determine your needs and what you can afford, you should research the market value of the tips for option trade in car buying a newspaper makes and models before you start looking for your car in order tips for option trade in car buying a newspaper avoid paying too much for the car you buy. You can obtain information about how tips for option trade in car buying a newspaper it costs a dealer to buy a particular model and optional equipment called invoice cost by consulting a number of publications and services including Consumer Reports Magazine, Edmunds True Market Value, and The Car Book.

These pricing guides can assist you in determining where to start your negotiations. These pricing guides are often available at your bank, credit union, on-line through the internet, or your local library. Loans are available from several sources, including credit unions, banks, savings and loan institutions, and dealers.

The loan term can run one to seven years. Long term loans may not be a good idea if you plan to trade the car in after three or four years; at that point you may still owe more on the loan than the car is worth.

You may wish to look at a shorter term loan with higher payments to avoid a potential "negative equity" problem loan balance higher than worth of vehicle at time of resale. Dealers and manufacturers sometimes offer very low interest loans which have special conditions. Know your financing alternatives before you make a commitment to a finance package. Use this Comparison Sheet to compare leasing v purchasing options. Leasing is very different from purchasing a vehicle.

Leasing or purchasing will have different advantages that should be evaluated thoroughly and matched with your needs. Read the section on Leasing and consider consulting a financial advisor to assist in making the best decision for you. There are a number of auto advisory and buying services that can assist you in deciding on a make and model, and then negotiate for you.

This can save a substantial amount of time in the car-buying process. Before signing up with such a service, find out exactly what it will cost and what you get for your money. Do not give the money for the vehicle to the broker or buying service; money must be paid directly to the dealer that delivers the vehicle.

Truth in Auto Advertising. Another step to buying a car is to check advertisements in the newspaper, web and magazines and compare.

Remember; even if you are unaware of existing advertised pricing, dealers have a legal obligation to offer you the price that was advertised publicly. Should you become aware that you were not offered the advertised price, make a copy of the advertisement and file a complaint with the Attorney General.

While you will probably negotiate on the price of the car, you may also need to negotiate other aspects of the transaction, including financing terms and trade-in value. Optional additions to the purchase may also be negotiated. These can include service contracts, add-ons such as spoilers, vehicle protection options like protective paint coatings, and credit insurance. While negotiating on the trade-in value of your vehicle, you must reveal to the dealer any "brand" which appears on the title, such as "rebuilt", "salvage", or "non-conformity".

If you don't disclose the "branded" title, the dealer can come back to you when the "brand" is discovered and attempt to renegotiate the trade-in value.

You must walk-away, however, before you sign any contracts. Once you sign the contracts, there is no law that allows you to cancel the contract for any reason within three-days of purchase. If your contract states it is "subject to financing" or some other contingency, it is not advisable to take the vehicle home until financing arrangements have been completed or the contingency is met.

By law, the dealer has 4 working days from the time of purchase excluding Saturdays, Sundays, and holidays to find financing or resolve the contingency and finalize the sale. If that is not done, there is no binding contract and the dealer must offer to return your contract documents, down payment and trade-in vehicle before attempting to negotiate a new agreement with you. If you have taken possession of the car, you must promptly return it.

Changing the Terms of the Contract After a deal is agreed upon and the contract signed, if you are contacted by the dealer saying they now need a larger down payment or higher monthly payments, you are not required to accept these new terms.

When the dealer fails to locate the financing specified in the contract in that time period, there is no binding contract and the dealer must offer to return your contract documents, down payment, and trade-in vehicle before attempting to negotiate a new agreement with you.

If you have taken possession of the car, you must promptly return it when notified that the transaction cannot be completed within the 4 working-day period. Some general questions to ask may include: What kind of driving will I do? Who or what will I be transporting? What is my monthly budget for car payment, gas, insurance, and maintenance?

How much car can I really afford? When comparing loans, be sure to consider the following: You have the right to: If you do not understand all of the terms and conditions, do not sign. By law, the dealer must separately disclose in writing the finance charge, insurance costs, taxes, and other charges you will be responsible for. Have a Consumer Issue?

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By using this website, you consent to the use of cookies in accordance with our Privacy and Cookie Policy. It is often a lot cheaper to buy a second hand car even if it is only one or two years old as the value of a new car depreciates very quickly. There are many different ways to buy a second hand or used car — here are the three main ways.

In this situation you, as a consumer, are protected by the Sale of Goods and Supply of Services Act as you are buying a car for your personal use from a person whose normal business it is to sell cars. As a consumer you have the same rights if you buy an item second hand as if it is new.

In this case if you find a fault with the car after you have bought it the dealer is the person who must set matters right. If you buy a commercial vehicle or a tractor from a dealer you may not have the same protection under the law.

If you are offered an extended warranty on a used car think about the cost of the warranty versus the cost of repairs that the car is likely to need. Sellers have responsibilities such as giving accurate and truthful answers to the questions you ask. Information on a seller's responsibilities in car deals is available on the Competition and Consumer Protection Commission's website. Often you can find very good bargains at car auctions which are held quite frequently.

However, the auctioneer cannot be held responsible for any defects found after you have bought the car. Auctioneers have terms and conditions for making sales and by bidding at an auction you are signifying that you accept these terms and conditions.

Before you go into an auction ensure you know what these terms and conditions are and that you agree to them. It is important when buying at auction that you know what you are doing as there is little legal protection for the buyer of a car, or any other item, at auction.

If you buy a car from a small advertisement or on the internet from a private individual you are generally not buying from a person whose normal business it is to sell cars although sometimes used car dealers do advertise in this way.

Again in this case you have very little legal protection if you find that the car that you have bought is faulty. It is therefore important when buying from a private seller to protect yourself from unscrupulous people.

It may be worthwhile to employ the services of a trusted mechanic who may be able to advise you on the mechanical state of the car. The seller is required to give you accurate and truthful information in answer to any questions that you ask. However, a private seller does not have to provide information that is not requested. If you have a grievance after buying a car you should complain to the seller first. If you are not satisfied with the response you may be able to take legal action against the seller.

You may have found a car that you would like to buy in another country. There are certain procedures to follow if you want to bring this car with you back to Ireland. You can find out more in our document on importing a car from another country.

If you sell or trade in your car you should register this change of ownership with the Department of Transport, Tourism and Sport or, if the car was originally registered on or before the 1st of January you should contact your local motor taxation office. You can read more about change of ownership of a vehicle here. Since all cars over a certain age, with a few exceptions, must pass a test that ensures that cars are safe and roadworthy. This test is called the National Car Test NCT and all cars over 4 years of age need to be tested, they then need to be tested every 2 years after that.

Cars over 10 years old are tested each year. Ensure that any used car that you buy has passed the test and has a valid certificate to prove it. You can read more about the NCT here. If you are buying a used commercial vehicle, check that the vehicle has a Certificate of Roadworthiness CRW. The CRW disc should be displayed on the windscreen of trucks, buses, vans and jeeps, and as close as possible to the registration plate of goods trailers.

If a commercial vehicle does not have a CRW disc displayed, it may mean that the vehicle has not passed its annual commercial vehicle roadworthiness CVR test. The CVR test history remains with the vehicle regardless of change of ownership, therefore, if the vehicle has a poor test history, you may get a CRW with a short expiry date when it is next tested.

You can find out when a vehicle is due its CVR test on the cvrt. Since 11 May the current odometer reading and up to 2 prior readings from the previous test dates are printed on the Certificate of Roadworthiness that comes with the CRW disc. You should request a copy of the CRW certificate from the seller to check the historic odometer readings. Information on buying a used commercial vehicle is available on cvrt. In all Hire Purchase agreements the car remains the property of the finance company and ownership of the items does not pass to the hire purchaser until the final instalment is paid.

If you have found a used car that you like, before you buy it ask if it was previously bought on Hire Purchase. You should ensure that all Hire Purchase payments have been made on the car so the car belongs to the seller and not the finance company.

It is possible to check if the car you are intending to buy is still under a Hire Purchase agreement - this service is offered by various companies online. It is also possible to check other aspects of the vehicle's history online, including taxation and NCT history and whether the car was previously written off.

Before you buy a used car you can check the vehicle's history online; there are a number of companies providing this service. If you have a problem with a used car that you have bought you should, in the first instance, bring the car back to the garage or dealer who should be able to repair any problems that you have. If you have done this and are still dissatisfied you can then take your complaint further. If the dealer is a member of the Society of Irish Motor Industry you can use their Investigation and Complaints service.

You need to contact the SIMI within three months of the fault becoming apparent. The Competition and Consumer Protection Commission will give you information on what your rights are if you buy a faulty vehicle. If you have a question relating to this topic you can contact the Citizens Information Phone Service on 07 Monday to Friday, 9am to 8pm or you can visit your local Citizens Information Centre.

Introduction It is often a lot cheaper to buy a second hand car even if it is only one or two years old as the value of a new car depreciates very quickly. There are many different ways to buy a second hand or used car — here are the three main ways From a garage or car dealer At a car auction Through a small advertisement on the internet or in the papers From a garage or car dealer In this situation you, as a consumer, are protected by the Sale of Goods and Supply of Services Act as you are buying a car for your personal use from a person whose normal business it is to sell cars.

At a car auction Often you can find very good bargains at car auctions which are held quite frequently. Rules Importing a car to Ireland You may have found a car that you would like to buy in another country. Change of Vehicle Ownership If you sell or trade in your car you should register this change of ownership with the Department of Transport, Tourism and Sport or, if the car was originally registered on or before the 1st of January you should contact your local motor taxation office.

NCT Certificates Since all cars over a certain age, with a few exceptions, must pass a test that ensures that cars are safe and roadworthy. Commercial vehicles If you are buying a used commercial vehicle, check that the vehicle has a Certificate of Roadworthiness CRW. Hire purchase on second hand vehicles In all Hire Purchase agreements the car remains the property of the finance company and ownership of the items does not pass to the hire purchaser until the final instalment is paid.

Driving legally To be able to drive the car in a public place the following is required: Legal vehicle registration plates Current motor tax disc displayed on the windscreen Current motor insurance disc displayed on the windscreen Current NCT certificate if car is over 4 years old displayed on the windscreen. How to apply Before you buy a used car you can check the vehicle's history online; there are a number of companies providing this service.

Related Documents Consumer guide to buying a new car A new car can be a big investment. Description of the legal requirements when buying a new car and information on the various finance options.

Steps involved in buying a home This document looks at what you need to consider before buying a property and the processes involved. Contact Us If you have a question relating to this topic you can contact the Citizens Information Phone Service on 07 Monday to Friday, 9am to 8pm or you can visit your local Citizens Information Centre.