July 18, 2013
(NAPSI)—When buying a used car, it’s important to look for problems that aren’t apparent to the naked eye. You might think of damage or fraud, but this includes any financial issues as well.
For starters, make sure any unpaid liens have been resolved before buying the car. A lien is “a legal right to the vehicle by a third party to ensure the repayment of a debt or other financial obligation.”
If you buy a vehicle with a lien on its title, you become legally obligated to pay off the debts. The lien also prevents you from registering the car until the lien is paid off.
One way to help protect yourself is to get a Carfax Vehicle History Report. It can contain a wide variety of information reported on the vehicle, such as title information, accident history and odometer readings, as well as financial issues, such as liens against the car.
Visit www.carfax.com to get a Carfax Report and learn more.
On the Net:North American Precis Syndicate, Inc.(NAPSI)