USED CARS Revealing a vehicle's true value

Experts take a close look when buying a used car.
CHICAGO TRIBUNE
Shopping for a used car can be like shopping for a date in a dimly lighted singles bar: They might look good from afar but are far from good close-up.
Someone with a trained eye, however, can spot blemishes yards away. Take David Claeys, purchasing manager for the CarMax used-car stores in Tinley Park, Ill., and Merrillville, Ind.
As Claeys roams among rows of used vehicles for sale at the Greater Chicago Auto Auction in Alsip, Ill., a silver Dodge Intrepid rolls by at 5 to 10 mph.
"That car's been repainted," Claeys says as the Intrepid pulls around a corner. "One of the doors was a little darker, and the paint texture was a little off."
After the Intrepid parks, Claeys takes a closer look, opening a rear door to find a faint line in a doorjamb where masking tape was used. He runs his fingers along the door edges and finds a rough finish caused by overspray during painting.
Experience
Such a keen eye comes from appraising more than 16,000 vehicles in the last nine years, giving professionals such as Claeys a clear advantage over consumers, who may be shopping for a used vehicle for the first time.
Even without such expertise, consumers can take some of the risk out of buying a used vehicle -- and gain insight into selling one -- by looking for the same warning signs as appraisers.
Appraisers are not more likely to miss flaws at night or during a snowstorm. At CarMax, they bring the car inside for a better look, and check to see whether the air conditioner works even in the winter.
Another tip is to watch whether the odometer clicks off miles when the vehicle is driven. If it doesn't, the speedometer may have been disconnected or stopped counting miles, which should raise red flags because mileage and value are directly linked.
"The value of the car is really in how many miles are left in it," said John Weinberger, president of Continental Motors, a multifranchise dealership in the western suburbs.
Though low miles will increase a vehicle's value, there are no absolutes, he said.
"One used-car manager may think a car is worth a little more or a little less based on their experience with that amount of mileage," Weinberger said. "That's why you never get the same value from two used-car managers."
A vehicle with more standard or optional features also will be worth more, so a Honda Accord EX (standard power sunroof and alloy wheels, optional leather seats) commands a higher price than the more popular but plainer Accord LX.
However, aftermarket features and accessories (those not installed by the manufacturer) can reduce a vehicle's value.
'Personalizing'
Someone who spends thousands "personalizing" their vehicle may be in for a surprise when they try to sell it. The look and features they loved, whether knobby tires and off-road lights, "slamming" or a chrome tailpipe the size of a 5-pound coffee can, may turn off prospective buyers.
Dan Feeny, who owns a Dodge dealership in Palatine, Ill., and a Chrysler-Jeep store in Elgin, Ill., says some accessories, such as alloy wheels, often increase value, "if it's done tastefully." Taste, he adds, is subjective.
Signs of mechanical neglect also lower a vehicle's value. Appraisers may appear to give a cursory inspection under the hood, but Claeys says he can learn a lot from a quick glance at the oil dipstick and inside the oil-filler cap.
"Some haven't had the oil changed in 30,000 or 40,000 miles, and we can tell. The oil gets thick and goopy," he said.
Minor scratches may not affect value. The rule of thumb on scratches is that light ones that can't be felt with fingernails usually can be buffed out. Deeper ones require repainting.
Signs that a vehicle has been in an accident doesn't mean it's toast with used-car appraisers as long as it appears to be a fender-bender. Nevertheless, overspray on rubber window moldings or uneven gaps between adjacent body panels will encourage a closer look for more damage.
Among the usual items inspected are the bolts used to fasten fenders, doors and the trunk lid to see whether the paint is broken, indicating they've been removed.
If CarMax suspects a car was whacked in the rear or rear quarter panels, they peel back the trunk liner to look for welding marks and body filler, showing where repairs were made.
A door, hood or trunk lid that doesn't close properly is a sign of frame damage, Claeys said. Appraisers look and feel under the body for clamp marks on the frame rails, which indicate the vehicle was mounted on a frame-straightening machine after a severe collision.
A vehicle with a bent frame may not track straight on the road and have steering and suspension damage.
Used-car appraisers don't rely only on their eyes and experience. The CarMax chain obtains title and registration histories from AutoCheck and Continental Motors uses Carfax.
Both services are available to consumers and trace a vehicle's history through the vehicle identification number to find out whether it's been stolen, totaled, declared a lemon, involved in a major accident or had its odometer rolled back.