When buying your next vehicle, consider the benefits of choosing a pre-owned model that has had limited owners. Purchasing a well-maintained pre-owned vehicle can save money on future repairs and get you a reliable vehicle at the same time.
Limited Ownership Benefits
One-Owner Vehicles
The ideal choice when purchasing a used vehicle is to find what you’re looking for in a car that has only had one owner. While this is the best-case scenario, it isn’t always the reality. It may be simple to find what you’re looking for both in price and features, but more than likely, in a vehicle that has had more than one owner. A one-owner car is a gem, as it has most likely been maintained by the owner whether they’ve owned it for one year or five. Since it was purchased new, that means the owner made a significant investment. Because of this, the chances are greater that it has received ongoing maintenance and service checks. A vehicle that is on its fifth owner, for example, may not be in the same great condition as that of one owner. A car’s second or third (or more) owners may not have the same inclination to maintain the upkeep of the car since they purchased the car for a much lower price. Another reason that vehicles that have had multiple owners may be problematic is that the vehicles have been subjected to a variety of driving styles that may result in more stress to the cars’ parts. Vehicles with limited ownership, especially those with only one previous owner, are generally in better condition, require fewer repairs, and have a higher resale value.
What to Look for When Buying
Just looking at the odometer isn’t going to tell you whether one or more drivers have driven the vehicle. A car, truck, or SUV with 100,000 miles on it might have been logged by one owner or by a series of owners. If the car comes with a set of service records providing the vehicle’s maintenance history, the records will often list the previous owner’s name (or owners’ names). Having an overall history of the vehicle is important. You can gain access to a vehicle’s background by asking the dealership’s staff about their inventory of vehicles that have a CARFAX history report. If you’re browsing the inventory on the dealership’s website, look for the CARFAX 1 Owner emblem on the vehicle’s information page. The report is based on the car’s registration history.
CARFAX One-Owner History
CARFAX was established in 1986 to provide vehicle information, including model, trim, engine and drivetrain, standard equipment, safety options, and the vehicle’s VIN number. A CARFAX report also lists the title and ownership history, including the year the vehicle was purchased, the type of owner (business or corporate), how long it was owned, where the vehicle was registered, and the odometer reading. If accidents or damage were reported to CARFAX, these would also be included in the report along with its service/maintenance records.
While it is important to know how many owners a vehicle has had when it comes time to decide, selecting one with the least owners may cost more, but it can be a better bargain in the long-run.
Image by Diego Bircher from Pixabay
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