TIPS FOR RENTING AN APARTMENT

BUYING A CAR

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  “Buy a Used Car” handout from International House provides useful information
  

What kind of car do you want to buy?

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  A new car or used car?
  
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  An automatic or manual transmission car?
  
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    A manual car is much cheaper and tends to have fewer problems with the transmission. However, it is more difficult to learn to drive a manual and harder to sell.
    

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  A Foreign or American car?
  

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  Japanese cars are more expensive than American ones due to their reliability (especially after 100K miles). Thus they depreciate more slowly and have a higher resale value.
  

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  What is your price range?
  

You may buy a used car either from a dealer or from a private owner.

When negotiating with a dealer, you need to bargain (the price the salesperson asks for is usually much higher than the amount he expects to collect!)

North Carolina sales tax is applied to car purchases. To save some money, choose to get the license plate and registration on your own (the dealer can charge you about 5 times the actual cost to perform that service for you).

While there are reputable dealers in Durham, Raleigh has more dealers with a larger variety of cars to choose from, so it may be worth the 30 minute trip. Look for car dealer advertisements in the weekend local newspapers (Durham Herald Sun, Raleigh News & Observer).

Recommended places to find private sellers:

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  www.craiglist.org (Choose NC _ Raleigh/Durham/CH _ For Sale: Cars+Trucks). Many students find their cars here. In the peak season, you should be aware that many other students are also looking at the same postings. When you see a car that matches your requirements, you should contact the owner right away, otherwise the car may be sold before you have a chance to see it.
  
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  Duke Dialogue Trading Post at http://tradingpost.dukenews.duke.edu/ A popular post in the Duke community, sometimes you can get a good deal.
  
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  www.cars.com
  
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  www.autotrader.com
  
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  http://autos.yahoo.com
  
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  intlhouse@duke.edu (Intlhouse Listserv): a closed listserv used by internationals and community members for: selling and purchasing furniture, cars, searching for an apartment, roommate, looking for or sharing a ride. While this is a good source of information, you may be bothered by too many emails. Register at: http://ihouse.studentaffairs.duke.edu/resources/lists/sign-up.html
  
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  Classified ads in local papers (Durham Herald-Sun, Raleigh News & Observer). Students find these resources less useful than Internet resources.
  

Information you need to know from a seller:

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  Total mileage
  
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  Number of owners
  
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  Accident history
  
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  VIN number (Vehicle Identification Number) needed to check the vehicle history
  
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  Arrange an appointment for a test drive
  

You can check car price references at Kelley Blue Book http://www.kbb.com/ or www.edmunds.com. They can help you check whether a price is reasonable. Be careful with the following terms:

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  Trade in Value: the price to sell a car to a dealer
  
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  Private Party Value: the price of a car sold in private party (also different from seller and buyer’s perspectives)
  
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  Retail Value: the price you need to pay to buy from a dealer
  

Basically, a good price is more than Trade in Value and less than Private Party Value if you buy from a private owner, or less than Retail Value if you buy from a dealer.

Before you buy a car, it is important to check the vehicle history report at Carfax (www.carfax.com). You will need the VIN (Vehicle Identification Number, which you will find under the windshield on the dashboard, on the driver’s side). Carfax charges a fee for unlimited reports for 30 days. It will tell you where the car has been driven, whether it has been in any reported accidents, whether it has a clean title or salvaged title, etc.

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  “Auto Mechanics” handout from International House provides useful information
  

Tip: paying cash will give you more bargaining power. Private owners only accept cash or cashier’s check.

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  “Automobile Insurance” handout from International House provides useful information
  

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  “Registering Your Car and Obtaining a License Plate” handout from International House provides useful information http://ihouse.studentaffairs.duke.edu/resources/handouts/transportation.html
  

Relevant Documents

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  A “title” is the official document that states the name of the car owner. You receive it when you purchase a new or used car. It is required to register a car in North Carolina and to purchase insurance. It should be kept in a safe place.
  
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  Registration is the official document that states the car is officially registered under your name. You will receive it when you take your paperwork to the Department of Motor Vehicles (DMV) to get the license plate. If you are ever stopped by the police, he will ask for it, so you should keep it in the car (keep a copy at home).
  

If you buy a car from a private owner

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  First, the owner and you will sign the title in front of a Notary Public, who stamps the title to make the transaction official. You can get this Notary Public service in all banks.
  
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  Second, you need to go to local Department of Motor Vehicles (DMV) to register. For specific registration instructions, DMV hours and locations check http://www.ncdot.org/dmv/vehicle_services/registrationtitling/howToRegister.html#Step%202. Bring your insurance policy number, signed title and money (check or cash).