purchasing a pre-owned car - duke student affairs · take the car title, mileage (from car’s...
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I-House/Student Affairs sn/July 2016 Handouts: PurchasingPreOwnedCar.doc
PURCHASINGAPRE-OWNEDCARQuestionstoAskYourselfBeforePurchasing
• DoIneedacar?• WherewillIbedrivingthecar?InDurham,aroundNC,acrosstheUS?• ForwhatpurposewillIdrivethecar?Transporttowork,toclasses,traveling?• Isitbettertousepublictransportation?Buses,taxis,vans,etc.?• Woulditbebettertorent/leaseacar?(seerenting/leasinghandouts)• Whyisitagoodideatohaveacar?• Whyisitabadideatohaveacar?• WhereshouldIbuyacar?
Ø Dealership:Moreexpensive,yetquickerprocess.Sometimeswithserviceagreementsandpaymentoptions.Ø Privateseller:Lessexpensive,butmuchmoretimeconsuming.Noservicesincluded.
SomeLocalDealerships…Mostreliablecarscost$8,000andup
CarMax(Raleigh)8520GlenwoodAve,Raleigh27612919.783.9494https://www.carmax.com/Carsfor$10,000andup
TriangleAutoBrokers3301NRoxboroSt.,Durham27704919.220.9476http://www.triangleautobrokers.com/Carsfrom$5000-$10,000
MarkJacobson4516DurhamChapelHillBlvd,Durham27707919.490.1000http://www.markjacobsontoyota.com/used-inventory/index.htmCarsfrom$8000&up
AtlanticAutoExchange2511GuessRd,Durham27705919.416.9400http://www.atlanticautoexchange.com/Carsfor$8000andup
ALotofCars(ownedbyformerDukegrad)3119NorthRoxboroStreet,Durham27704919.220.7155www.alotofcarsnc.comemail:[email protected]$3000-$9000
PerformanceAcura(askforSylvesterHarrison)1814Durham-ChapelHillBoulevard,ChapelHill27514888.742.6227http://www.performanceacurachapelhill.com/Carsfrom$5000&up(takestimetolocate)
CasaCars101HavensiteCt.,Cary,NC27513919.389.5225nowebsiteemail:[email protected]
OtherPlacestoLookforCars…InDurhamtherearealotofcardealersonDurham-ChapelHillBoulevard,alsoknownas“15-501Business”.Manyofthenewcardealersalsosellusedcars.Noneedforanappointment.Hoursareusually9amuntil9pmMonday–Friday;9amuntil6pmonSaturdays;afternoonhoursonSundays.Ifyoutelladealertheamountyouhave,let’ssay,$5,000foracar,he/shemaytrytofindyouone.Itmighttaketime,though.
RecommendedPlacestoFindPrivateSellers• I-Houseemaillistserv([email protected]),registerathttp://studentaffairs.duke.edu/ihouse/join-email-listserv• DukeListsforallDukeaffiliatedpeople(http://dukelist.duke.edu/)–musthaveanetIDtoviewads• Websites,includinghttp://raleigh.craigslist.org/,https://www.cars.com/,https://www.autolist.com/,and
http://www.autotrader.com/• ClassifiedadsinlocalnewspapersincludingDurhamHerald-Sun(www.heraldsun.com)andRaleighNews&Observer
(http://www.newsobserver.com/)Beforepurchasingfromaprivateseller,rememberto;• LookuptheKellyBlueBookvalueofthecarbeforegoingtoseeit(www.kbb.com)orEdmunds(www.edmunds.com).• LookattheConsumerReportsratingofthecar.BostockLibraryhasConsumerReportsintheReferencearea,oryoucansubscribe
online(http://www.consumerreports.org/cro/cars/index.htm).• AskthesellerfortheVehicleIdentificationNumber(VIN)andrunareportonhttp://www.carfax.com/.Thismaycostasmallfee
unlessyouknowsomeonewhoalreadyhasasubscription.• Takethecartoamechanicforanevaluation.(Thecarownermaywishtocomewithyou.)• I-HousehasalistofAutoMechanicsandtheirfeechargedtoevaluateausedcar.SeeAutoMechanichandout.WhatquestionsshouldIaskaseller?• Howlonghaveyouownedthiscar?Areyoutheoriginalowner?Whyareyousellingthiscar?• Howmanymileshaveyouputonthecar?Whatisthetotalmileage?• Whatrepairshaveyoumade?Haveyoubeeninanyaccidents?CouldIseethemaintenancerecords?• Ifamechanicfindsaproblemwiththiscar,willyourepairitbeforeIpurchaseit?WARNING:Donotbuyacarthatdoesnothaveacurrentinspectionstickerorlicensetags.Donotbuyacariftheownercannotgiveyouthecartitle.Donotbuyacarwithoutgettingitevaluatedbyamechanic.
I-House/Student Affairs sn/July 2016 Handouts: PurchasingPreOwnedCar.doc
Howmuchwillbuyingacarcostalltogether?• NCDrivinglicense $32.00foreightyearsor$4peryear• Insurance Varies($1200forsixmonthsformostinternationaldrivers)• Title $40.00• HwyUseTaxandLicensePlates 3%ofvehiclepurchaseprice+$28(Tagsandadditionaltax)• Inspection $30-$40• Dukeparkingpermit Varies(seeparkinghandout)WhatmustIhavetoregistermycarinNorthCarolina?• NorthCarolinaIdentification(Driver’sLicense,Learner’sPermit,StateID)• TitleofCar(Afteryouregisteredyourcar,keepitinasafeplaceathome.Donotleaveitinthecar!)• MinimumLiabilityAutoInsuranceRequirements(keepanautoinsurancecardinyourglovecompartment):
o PropertyDamage $25,000o BodilyLiability $30,000foroneperson;$60,000for2ormore
WhatshouldIknowaboutcarmaintenance?• Learnthebasicpartsofyourcar(forexamplevisitamechanic,readthecarmanual,searchwebsites).• Havetheoilandoilfilterchangedevery3,000miles(5,000forsyntheticoil).• Monitortheconditionoftiresandbrakesandhavethemadjusted/replacedwhenneeded.• Getawrittenestimatebeforedoinganyrepairsatamechanicshop.Triple-A(AAA)ortheAmericanAutomobileAssociation(www.aaa.com)3505WestgateDr.Durham27707,Tel.919.489.3306OR5137NCHighway55,Durham27713.Tel.919.313.0195• Emergencyroadsideassistanceforcarwrecks,flattires,keyslockedincar,andotherproblems• Freemaps• Hotelandcarrentaldiscounts• Traveler’scheckswithoutextrafees• TripplanningadviceHelpfulWebsiteshttp://www.carbuyingtips.com/used.htmhttp://www.samarins.com/buying/index.html
Whatarethestepsforpurchasingacar?
1. GototheDriver’sLicenseOffice(DepartmentofMotorVehicles,DMV)togetanNCStateID,Learner’sPermit,orDriver’sLicense.ThereisaDMVlocatedinNorthgateMall,Durhamandoneat1704E.FranklinSt.,ChapelHill.Itwilltakeatleast10daystogetthisID.AlsodonotapplyforthisIDuntilyouhavebeentoDukeVisaServicesANDinUSforatleast3days.
2. Startlookingatdifferentcars.Youcanaskthesellertobringthecartoyou.Whenyoufindoneyoufeelgoodabout,doaVINcheck.AlsolookatKBBorEdmundswebsite;withexactmakeandmileageofautoyoucangetanideaofthevalueofthecar.Ifyoustillfeelgoodaboutthecar,arrangefortheownertomeetyouatthemechanicofyourchoiceforanevaluation.AsktheMechanicforawrittenortypedevaluation.Youmayusethisevaluationwhennegotiatingapricewiththeseller.
3. Ifyoustilllikethecar,negotiateapurchasepricewiththeseller.Decideonmethodofpaymentwithowner(usuallycashierscheckfromyourbank).
4. GowiththesellertoaNotaryPublic(canfindNotaryatabankorattheDMV).YoumustBOTHsigntheCarTitle.YougivethesellertheCashiersCheck.He/shegivesyoutheCarTitle.Don’tgiveanymoneywithoutgettingthetitle!
5. PurchaseanAutoInsurancePolicy(refertohandoutonAutomobileInsuranceformoreinformation).Youcanalsoresearchinsurancewhileyouarelookingatcars;andyoucanpurchasetheinsuranceoverthephoneevenbeforeyouregisterit.
6. TaketheCarTitle,Mileage(fromcar’sodometer),PhotoIdentification(NCStateID,NCDLorNCLearner’sPermit),ProofofInsurance(policystatement),andCashorChecktopayfeesandtaxestotheDMV.RefertotheRegisteringYourCarandObtainingAutoTagshandout.
7. Takethelicenseplateoffoftheowner’scarandhanditintotheDMV.ThereisaDMVlocatedinNorthgateMall,Durhamandoneat1704E.FranklinSt.,ChapelHill.Putyournewlicenseplateonthebackofyourcar.Youwillneedascrewdrivertodothis.Youarenowreadytodrive!SafeTravels.