First Time Car Buyers Should Be Wary of Private Sellers
When I was searching for my first car to buy, I opted to ignore used car dealers and look instead at local newspaper classifieds and private seller publications. What tempted me was that vehicles from private parties were often being sold for well below their Kelley Blue Book price.
I should have taken this as a cautionary sign. Unfortunately, I opted to buy a sporty V8 Camaro I could have never afforded at market value. The reason for so low a price quickly became clear: the car had mechanical issues I’d overlooked in my fever for horsepower.
Instead, I probably should have bought a more reasonably-priced car, or gone to a dealer that offered auto loans for first time buyers. My parents would have cosigned the loan, so I’m sure I could have gotten a great interest rate, as well as a vehicle inspected by professionals for any lurking mechanical problems.
