The lemon law is a law that helps protect consumers when they buy a defective vehicle. In this blog post, we’ll discuss a few stories about failed auto purchases. Buying a car doesn’t always work out when you get a lemon!
Let’s start by discussing a young woman who purchased her first car and was excited to drive it home. But as she was driving down the street, she noticed that the car’s engine was making a loud noise and causing intermittent stalling. When she went back to the dealership, he told her the only thing they could do was have a look and see and the cost of repair would have to be paid by her.
No Warranty Means Out-of-Pocket Repairs
Another situation consumers find themselves in is buying a used car with no warranty. Without a comprehensive warranty, vehicle owners must pay for repairs out of their pocket.
Cars and trucks that don’t come with a warranty could mean significant repair expenses if you’re not careful. Before signing any deal, agreement, or before paying cash, it’s always a good idea to get the car evaluated by your mechanic first. By getting the opinion of an experienced mechanic, you can move forward – or back out of – a car purchase with more confidence.
Depreciation
Depreciation shaves off significant value on the purchase of new vehicles. People who buy new cars can expect to lose 10-20% value in the first year of ownership. High mileage and accidents can also impact the overall resale value of the car, so this too must be considered.
Can’t Qualify for Favorable Terms
Many people have spent hours at an auto dealership, only to be told the deal couldn’t get done. To avoid disappointment and wasted time, ask obvious questions first. That way, you won’t have to feel the sting of disappointment at the dealership.
People with spotty, thin, or bad credit could face challenges getting financed or qualifying for the best financing options. If possible, take steps to improve your credit score before entering a dealership to get better rates so that you’re not embarrassed.
These are some tips worth sharing so that you can avoid the same mistakes when getting your next vehicle.
Used cars don’t depreciate much, which is one reason they’re always in demand with car buyers. Everyone is looking for the mechanically sound ones, leaving the lemons on the lot for others.
Avoid Lemons
A true lemon vehicle will have significant issues, and every state has its own set of Lemon Laws. But generally, these automotive issues fall into the lemon category:
- Stalling engine
- Starter problems
- Overheating
- Engine problems
- Slipping transmission
- Lack or loss of power
When these types of recurring problems occur with a new car, the joy of ownership diminishes quickly. It’s always in your best interest to contact the dealer as soon as possible to let them know the vehicle is having issues. By doing so, these proactive steps may help to avoid costly and more significant auto repairs at some point down the road.
