The decision to buy a car, especially a used one, is a far more daunting one that you can possibly expect. There are a lot of things to consider before you can actually make that final decision and invest in a vehicle that you can use for more than just a couple of years. Over the years, second-hand or pre-owned cars have come a long way and are now one of the first choices for first-time buyers. But before you decide to buy second hand cars, there are a few precautions that need to be taken to get the best deal.
- Have a Budget Ready
Before you can even set out and look for your used car, you need to have a budget set for the purchase. Decide the amount you want to spend on the car and what you will be willing to spend on the repair work or maintenance. It is also important to remember that insurance and some other costs will be added to the final price, so always be prepared. And always have a limit to what you want to spend so you don’t overshoot your budget.
- Do a Lot of Research
Once you have a number in your head, the next step to your dream car is actually searching for it. Fortunately, the internet is a place where the options are endless. If you have a type of car in mind, you can research more about it and find specifications, prices, and alternatives on most websites. One of the best places to learn about the car you want is through forums and various reviews and surveys where you can discuss with other owners or used car buyers.
- Consider Lesser Known Brands
Wouldn’t we all love to drive around in brand new Rolls Royce’s, but unfortunately, that is never going to happen. But, when it comes to buying a used car, the lesser-known brands are often overlooked – wrongfully that is. While Honda, Hyundai, and Toyota always do well, Suzuki, KIA, and Mitsubishi end up undersold. This takes almost brand new cars from the lots to the used car dealerships and reduces the price significantly. When you choose these brands, you can easily get an amazing deal for a car in pristine condition.
- Stick to Certified Dealerships
As the automobile industry flourishes continuously, more and more people are now considering used cars over new models. This has led to an increase in certified used car dealerships everywhere which is great for potential buyers. These dealerships offer a number of different options – all of which come with proper certification.
- Take a Good Look at the Car
Before you can drive away in your new toy, you need to properly take a look at the car – inside and out. Start with the exteriors and check if the paint job is original or if there are any mismatches, cracks, dents, and more in the body. Inspect the engine thoroughly and make sure it doesn’t stall while accelerating, check the tires for leaks or any kind of wear and tear, and most importantly, check the battery and its condition.
- Always Do a Test Drive
If you feel like the car looks perfect, you should take the next step and test drive it to make sure. You can also ask a professional mechanic to accompany you to ensure that there is nothing wrong with that car. While driving, check everything from the brakes to the clutch, and even the windshield wipers to see if they are in proper working condition.
- Demand for Paperwork
This is one of the most important points when it comes to buying a used car. Paperwork is often disregarded, especially in India, but it is extremely vital when finalizing the purchase. Ask the seller for all the required documentation including the taxation book, the registration book, an updated PUC certificate, and the original invoice of the purchased car.
- Try and Bargain
We know this step is not really that important, but it could be the difference between going home with a car and going home with a car, a full tank of gas, some groceries, and even celebratory ice-cream. Yes, the savings might not be as much as you would like, but bargaining could reduce the price by a few thousand.
- Check for Car Loans
If you are buying your car from a dealership, you might want to talk to your bank about getting a car loan to help you acquire the car you want easier. Banks today offer loans with low rates of interest for used cars as well as new cars which can help you break the amount into more manageable installments every month.
- Owner Transfer
Finally, when all the steps are completed and you have inspected the car, test-driven it, and got all the required paperwork, the only thing left is to have the owner inform the RTO or Regional Transport Officer. This can be done with a letter but it should be done within the first two weeks (14 days) after the purchase. Once that is complete, you will officially be the owner of the car.
There you have it, 10 simple to follow precautions before you can get behind the wheel of your new pre-owned vehicle. If and when you choose to buy a used car, these precautions will help you find whatever car you want and take ownership of it quickly and easily. And remember to try our used cars valuation tool to verify the right price.