6)Check all your freebies to make sure they are of the same brand/model/design as agreed.
7) Do a test drive to make sure that everything is in order such as no misalignment in the wheels if they fix sports rims for you.

Check the IU for the cash card, make sure it is working(Bring a cash card along).
9) Check the mileage, anything below 10000km should be reasonable.
10) Lastly, don't forget to check the fuel level. If it is low, drive it to the nearest petrol station and top up.
11. Check your Auto-Trans oil.
12. Test your power windows. ensure they're working. Should have auto-down function.
13. turn key to acc and check if all the lights are on (hand-brake lights, engine check light, ABS (optional) light, door open light, etc)
14. Turn the ignition. Make sure engine check light disappear after a while. Acc light should go off immediately.
15. listen for any abnormal sounds during startup
16. Check that all fluids are topped up.
17. Check all lights (headlights, low/high beam, hazard lights, brake lights, reverse lights) are working.
18. Check reverse sensors working
19. check if gears can engage properly (D, 1, 2, R, P)
20. Check cup holders eject and locks in place properly
21. Check CD player + all 4 speakers working.
22. Check aircon working (aircold should be very cold at coldest setting)
23. Check wipers (all 3 speeds) and the water spray at the wipers
24. check seat belts can buckle or not.
25. check rims of the right size and design .......................
26. keep a photocopy of the purchase contract in the car if u drive it to Malaysia so that if u are pulled over for outstanding fines, u can produce proof of ownership and the effective date (best is u can make sure no outstanding fines) that came frm the other owner.
28.For those thinking of changing the wheel size after getting the 2nd hand car, do note that the car was manufactured and tested with it original wheels (so have u, when u test drive the car). There have been cases of pple changing the wheel sizes and thereafter, the car either start having more noise, or become unstable/shaky while driving at high speed (90km above.........).
29.if you intend to drive the same car for long time, then getting a new car will make more sense. Dealers are ok if you know how to deal with them. The used car market is in a really BAD slump right now, they'll jump on ANY potential customers right now. Most impt thing is to be comfortable with the dealer you're dealing with. There're still white sheeps among the whole flock of blacks Take your time to compare prices. Don't be pressured into any commitments. Oh, don't believe any crap they told you too.
30.you as a buyer might like to take note. Monthly installment should be lower than brand new car too, assuming $0 or very miminal downpayment (e.g. 10%).
Use these points to bargin with the dealer and most probably you will get what you want, if the seller / dealer are desprate.
31. if you buy from used car dealers, you are very likely to get hit by quite high interest rate. this can make a difference. let's not even talk about scumbag used car dealer that is actually a finance company (99% are this category), if you go to UOB for a car loan, if you take a new car loan it is 2.2%, if it is 2nd hand = 2.70% (7 years loan) or 2.8% (8-10 yrs loan). The following was cut and paste from the uob car loan website...
New car: $60,000 (you downpayment $10,000)
Loan Amount S$ 50000
Loan Period 7 years
Interest Rate (p.a.) 2.20 %
Effective Interest Rate (p.a.) 4.26 %
83 Equal Monthly Repayment S$ 687
Final Repayment S$ 679
Total actually paid to bank: $57700 (i.e. $7700 profit for bank)
Used car: $60,000 (you downpayment $10,000)
Loan Amount S$ 50000
Loan Period 7 years
Interest Rate (p.a.) 2.70 %
Effective Interest Rate (p.a.) 5.17 %
83 Equal Monthly Repayment S$ 708
Final Repayment S$ 686
Total actually paid to bank: $59450 (i.e. $9450 profit for bank)
The same used car (9 yr loan)
Loan Amount S$ 50000
Loan Period 9 years
Interest Rate (p.a.) 2.80 %
Effective Interest Rate (p.a.) 5.26 %
107 Equal Monthly Repayment S$ 580
Final Repayment S$ 540
Total actually paid to bank: $62600 (i.e. profit $12,600)
Info from http://www.uobgroup.com/pages/personal/loans/carloan.html
You see that some savings may not be 'really' good savings...but HERE IS THE PUNCHLINE, most scumbag used car/finance dealers whack you 3-4% instead of the bank 2.7-2.8%. (inside news: ocbc's finatiq.com offers 1.99% new car and 2.3% used car)
So if you take a 9 year loan on a used car, you might as well buy a new car considering the $$ you give to the finance house/bank. Even if you think the monthly is waaaah so low $500+ you are trapped into 107 monthly payments. Even if you dump the car, you are most likely to face negative equity. The loss will be much much higher than the loss you make on buy-sell car price.
32.Say : $54000 loan at 2.2% over 7 years.
Principal : $54000
loan : 2.2%(54000) x 7 = $8316 ($1188 x 7 )
total sum due : $62316.
Hence monthly installment = $742 (83 installments)
Last installment = $730.
For rule 78, assuming early settlement after 12 months.
rebate factor = 72x73 / 84x85
= 0.736
Hence settlement = (72 x 742) - (0.736 x 8316)
= $47303
Therefore, total paid to bank = $742 x 12 + $47303 = $56207.
=> total interest paid for 1 yr loan = $2207.
**************SWEATING*******************************
33.LASTLY................I think you should actually go to the showrooms of new and 2nd hand cars, and speak to sales execs, and pick up the phone to talk to some car finance people. What you read on the web and theorize is never never the case in real life...
One last warning about 2nd hand cars, if you have to get one from a dealer (not a private individual), you may not get the list price if you pay in full. Most 2nd hand dealers are in fact finance companies that make money from interest charges (not the car). So if you want to pay cash for one of these cars, they usually will change the price to reflect their loss in the interest... I got sick of a few dealers as their rates were too high so i paid cash in full and my interest was $1k to sign the papers...............
