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Buying or selling a used car

Access documents for buying, selling or leasing a car.


Buy, sell or lease a vehicle FAQs

  • When is it smart to lease a vehicle?

    Most personal finance advisors will say it is never in your best interest financially to lease a vehicle. During the terms of the lease, you'll always need to make monthly payments and you'll never actually own the vehicle. It's basically like renting a car. While financially it often doesn't make sense, there are advantages to leasing a vehicle.

    Advantages to leasing a vehicle:

    • Most leased vehicles include the latest technologies, such as semi-autonomous driving systems, emergency braking, and more.
    • Monthly payments are often lower than loan payments.
    • Most of the maintenance and repairs are included. The vehicles often have warranties as well.
    • You only pay sales tax on the portion you pay, and not for the entire purchase price of the vehicle.
    • Usually only a small downpayment is required.
    • For business, it often allows a larger deduction than a purchase.
  • How do I buy a used car from a private seller?

    Buying a car directly from a private seller is often much more affordable than buying from a dealer. If you are wanting to buy a car from an individual, you may be wondering how to ensure that the transaction is legal, safe and fair.

    Before buying a used car from a third-party:

    • Verify the status of the title
    • Have your mechanic perform a pre-purchase inspection
    • If they have a loan on the car, verify how you can obtain the title
    • Ask for the most recent emission documents, if required in your state
    • Obtain vehicle history report using the Vehicle Identification Number (VIN)
    • Verify the odometer reading and VIN
    • Ask for service records and warranty information
    • Get the transaction or bill of sale in writing

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