Nearly 50% of used car buyers would be tempted to part with their money if the car in question was being sold at considerably less than the list price, a report from the AA has revealed.
The AA is warning buyers that heavily discounted cars often have something to hide, and is advising potential owners to carry out a vehicle history check before purchasing.
"It's easy to be tempted by a vehicle with a rock bottom price, but buyers need to think about it from the seller's perspective -- would they sell a car for a third of its value?" said Amanda Moore of the AA. "Most cars masquerading as a bargain have something to hide."
Potential pitfalls
Stolen or cloned
A cloned car is a car which has been stolen and given another car's identity to hide this fact. If you buy a cloned or stolen car, you stand to lose both the car and the money you paid for it.
Insurance Write-off
Written-off cars have been involved in an accident, declared a total loss by the insurance company, and have then been repaired and returned to the road. Although some write-offs can be repaired, some are fit only for scrap and you should look out for this.
Outstanding finance
This is when there is still money owing on the car. If it turns out that the vehicle belongs to a finance company, you could lose your car and your cash.
How do I avoid buying a dodgy car?
There are a number of rules you should follow when buying a used car to make sure you're not getting ripped off:
- Always view the car at the owner's home address. Why should they want to hide where they live if they're genuine?
- Check that all the VIN numbers match.
- Do a vehicle history check such as an HPI Check or an AA Car Data Check.
- Remember, if a deal is too good to be true, it probably is.
- Don't be afraid to walk away from the deal if you smell a rat.
For more advice on buying a used car, visit our Used Car Buyers' Checklist to see our foolproof eight-part guide to buying a second-hand motor.
