Today, many people prefer to buy used cars over new ones. In a new study, a major think-tank in the auto industry found that used cars are viewed by Gen Y as having a higher value and holding value longer. It’s about more than choosing the best car – extra resources!

The key is to find the right dealer. Federal Trade Commission (FTC).

How to handle each. Here are just a few.

1. It is important to inspect the car by yourself or have it checked out by your own mechanic. Most dealers will allow you to test drive the car before purchasing.

2. Be sure to test the vehicle in different road conditions prior to purchasing. Test the vehicle on hills and highways as well as in traffic.

3. Be sure to consider the dealer’s history before making a purchase. The best dealers have testimonials from their customers. You should also contact the Better Business Bureau (BBB), to determine if any complaints haven’t been resolved. Or, you can look for the BBB Seal on the website of the dealer and check their profile.

4. Used car dealers are not legally required to offer used car purchasers a cancellation right. You should ask the dealer what their return policy is before you make a purchase.

5. All signatures should be copied.

6. Do you know the average cost of ownership? The U.S. Department of

Transportation offers information on recalls, gas mileage, and more.

7. You should not rely on spoken assurances. Do not rely on verbal promises.

8. The dealership or finance firm should report your good credit history to the credit bureaus. This will improve (over time), your credit score and lead to a lower interest rate in the future.

9. Buy only what you can afford. You should think about how much you are able to pay, your monthly payments, the term of the loan, and annual percentage rates.

10. Many used vehicles come with a “As is”, which means no warranty. A free warranty is offered by most reputable dealerships. Be sure to ask about it and understand exactly what you’re getting.

Keep the phrase “reputable dealers” in your mind. Understanding this is crucial. Dealerships must not operate like an assemblyline. They should be able to sell cars quickly, without sacrificing the customer. Great dealerships work with their customers to provide advice and guidance.

Together, we can determine the right vehicle and financing for you.