Be Prepared – Your Used Car Dealer May Disappear Tomorrow

The writing is on the wall. Hundreds of dealerships (maybe as many as 3800) are expected to go out of business in 2009. The immediate impact on the used car buyer is this: CAVEAT EMPTOR! That’s Latin for Buyer beware.

When purchasing your next used car, assume the car dealer is not going to be there tomorrow. Get a thorough inspection of a used car before purchasing it. Buy no extended warranties unless they are backed by the manufacturer and make sure every single piece of paper is order before you leave the lot. Double check if you have any doubts.

Most importantly, leave a minimal deposit (none is best) before picking up your used car. Too many consumers have lost deposits on everything from computers to stereo systems to used cars when stores are suddenly shuttered.

Act as if your used car dealership is about to go out of business and you won’t be disappointed.

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