(WXYZ) — It feels like everything is more expensive these days, including food, travel and cars.
The rising impact of inflation is something we've been covering extensively on 7 Action News, and it appears the car market might be going in the right direction.
According to JD Power, used car prices have likely peaked, but new car prices remain high. The average price for a new car in the US was up more than 4% in January 2023.
One way to save is buying a car with a little bit of damage, and I went to a shop owner to see what options were out there. It is possible to save if you want to buy a used car with some damage, but it all depends on how open-minded you are.
"Would you ever buy a car that has minor damage to it?" I asked.
"No, I don't think I would want to buy it, if it already had damage, no I don't think so," Chris Walker said.
In the end, the people I talked to were split. Some would, and others wouldn't.
Bill Nalu, the president of Interstate Auto Care, said it is OK to buy a car with some damage.
"If we are talking about cosmetic damage then something that is not going to be safety related," he said.
It also depends on your situation
"If you are a beginning driver, why not get a car, why not get the kids a car that's got some dings and scratches on it, you know you are going to see more of those on it."
As for what not to buy, avoid anything that's rusty, according to Nalu. He said cosmetic rust on the outside of the car isn't as bad, but it will get worse over time
Here are some questions you can ask.
1- Am I speaking to the owner of the vehicle? If not yes, then find out why.
2- How long have you owned the vehicle? We’re looking for at least a 3-year history.
3- Do you have a service history on the vehicle? An owner who has no service records may not have taken very good care of said vehicle.
4- Since you stated that you are the owner of the vehicle, will I be able to verify that your name and driver's license information match what is stated on the title?
5- Are there any other parties on the title other than yourself, including a previous lender, that may require a lien release statement in order to transfer title?
6- Are you open to meeting me at my ### auto service center so that I may have them perform a pre-purchase inspection?
7- Lastly, don’t pay in cash, since a paper trail documenting the transaction is your last measure of defense against those that will only deal in cash.
