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Buying A Second Hand Car its about risk management

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Recently a friend decided that she wanted to buy a second hand vehicle for the very first time
most of her life the car management was left to her husband but now she was in a position where she needed to understand
the basic fundamental of buying a car in 2013.

I thought about this for a moment and realised how daunting it would be to buy a car without a background of the automotive industry
My first question was
What is your budget
No2,
What type of car are you looking for
No3,
Who do you want to manage the risk of the asset

Manage the risk what do you mean by that she asked. Well if you buy a vehicle out of new car warranty you may need to consider a second budget for ongoing maintenance and repairs
I began to understand how big it is to buy a car, stop right there you maybe thinking buying a car is easy what the deal deal
My question is how many people actually sit down and research for what purpose is the car required
What will it cost to maintain the car each year
What will it cost to insure the car
How many kms will the car be travelling
Is it possible to title search the car for status of repair history, or status of finance owning to the car
What will the car be worth if I need to sell it in 12 months ?
What are the risks of buying a car of an auction ?

To help you get started the following Ibook titled Virtual Car Care will place you in the driving seat as well as an Iphone App titled  Auto Sound ID

These are the questions we need to ask ourselves before we go out and just buy any car instead of the car we need

Written by Darren Gow-Brown
Virtualmechanic.com.au
Iphone Apps Writer

 

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