Because people are keeping their old cars longer, fewer “pre-owned” vehicles are available for purchase at car dealerships. When you do find a used car that you like, you often take a CARFAX report and consider the car good if it hasn’t had the same repair enough times to officially call it a “lemon.” But you should look at 
more than just that report. While it’s a good tool, it doesn’t tell you everything that can affect a car’s value or trustworthiness.
Accessory Package
If the car in question has any sort of accessory package, as most do, are you getting all the accessories for the accessory package? If there is a DVD player, is there a remote control unit? Headphones? Are all the speakers working equally and well?
If you are getting an on-board navigation system, does it work? How comprehensive is it? When was the map program last updated? How does it update? How does it work, precisely? For instance, some navigation systems require a CD: Is every operation-required part and accessory present and in working condition? If not, you may spend hundreds of dollars getting that terrific accessory package working?
Know what accessories were purchased with the car when it was first bought. The dealer can determine that information via the VIN, the vehicle identification number. The dealer may not want to, but he or she can.
Make sure any accessory package or feature that is not fully in working order is devalued or not included in your purchase price.
Is there a luggage rack? How securely is it connected? In what kind of shape it is? Are there rust rings around the connection points? If so, be careful; your car’s roof is rusting, and if you don’t already have one, you could well have a leak soon.
Look not just at the tires on a used car, but the tread wear patterns. If all tires are not worn evenly and in the same pattern, your potential buy is not properly aligned. That will cost you money to have fixed, not including needing new tires sooner than you would otherwise. Look at the spare tire and the jack. Are they in good working order? Is there a spare tire? Does everything work? In what kind of shape are the lug nuts, themselves? Are they rusted closed, bent, stripped and otherwise hard to remove? There’s more to a tire well than kicked rubber.
Towing packages are common on vans, SUVs and trucks. Is there one on yours? Did there used to be one on it? Is it still secure and in good working order? What is the weight it can pull? Can the tow package, the engine and transmission still pull that weight? Are there lights connections? Brake connections? While brake line connection depends on the gross vehicle weight and other combined vehicle attributes, trailer lights are must. If the electrical connection doesn’t work, that could cost you more hundreds of dollars to repair before you can tow even the smallest tag-along around.
Insurance
After you check and compensate for the accessories that many overlook, it’s time to look at the insurance that the potential purchase will require.
Every state has its own minimum insurance statutes. If you get a bank loan to finance the car, your insurance requirements just met the roof; unfortunately, the bank will require maximum coverage to protect their investment. Once you own the title to the vehicle, you can adjust your insurance needs downward if desired.
If you pay for the vehicle yourself, you have lots of insurance options. If your car is older, just how badly do you need theft insurance? How much theft insurance do you need? Are there vehicle protection devices that can defray insurance costs?
Are there safety classes that you can take at minimal or no cost that will improve your insurability and, therefore, reduce your insurance rates? They may not be fun, but when premium payments and deductibles can be reduced by 25 to 40 percent every month, it might be worth your time and effort to attend those mini-safety courses.
This post was contributed by John Walker, who runs a payday comparison site. John is a financial analyst based out of London, UK.