With more companies venturing into the Indian automotive market, it has catapulted into a gigantic space. While new models and regular updates to existing cars have significantly increased the car prices across segments, seeing the potential for used car in India multiple brands have ventured into the Indian used car sector that is also growing at a rapid pace.
Buying a used car was a taboo in older days, however with companies offering certified used cars through their authorized used car division and reliable e-commerce portals providing a platform for used car trading, demand for used cars has surged in the past. Customers buying second hand cars evaluate all the aspects carefully to ensure they get a good deal. For all those planning to buy a used car, here is a list of dos and don’ts that could help all the prospective customers.
Before you make up your mind on the car you want to buy here are a few suggestions-
What is your budget?
Before zeroing in on a car, it is important to decide on the budget. Once you set up a budget, it is easy to pick a car that will suit your requirements.
Which car suits you best?
It is important to know which car suits you the best based on the size of your family, time spent in commuting and other needs. For a small family with two or three members, it is viable to opt for a hatchback than a large seven -seater UV. Read – Tips To Enhance Resale Value Of Your Car
Which make and model?
After reaching a conclusion for the type of car you want to buy, it is important to decide on the make and model. This requires evaluating other parameters like resale value, maintenance cost, reliability etc.
Which fuel type?
In a mileage-sensitive market like India, carmakers focus on the engine technology and while diesel engines are more fuel-efficient, the new-age petrol powertrains have been crafted to deliver impressive mileage that bring them on par with diesel cars. Moreover, the difference in price between petrol and diesel further widens the running cost. To decide on the fuel type, it is advisable to consider the maintenance cost and your daily commuting distance.
Reliable sources & mode of payment
Used cars can be sourced from used car dealers, authorized dealers, internet, newspaper ads and referrals. The end user should directly negotiate with theprevious owner; therefore, internet and classifieds are better sources for buying used cars. Read – How to Take Care of Cigarette Burn Holes in Car Seat Upholstery
While most of the buyers prefer making payment through cash, one can also avail a loan. One must note that interest rates are higher on used cars than new cars. Prospective customers can also avail a loan against fixed deposits.
Once you choose a car, make, model and fuel type, here are a few pointers that you must keep in mind-
Ensure that the car has proper documentation
Always check for the proper documentation before buying a second-hand car. Prospective customers can contact the service station or service company to enquire for an accident history. Read – Follow These Tips To Increase Your Car’s Life Span
Are certified cars a safer bet?
If you do not wish to juggle around so much, it is better to buy certified cars through authorized dealerships or manufacturers. Though, you need to be careful as some of the dealers do not repair the worn-out parts and this could be a problem later. Additionally, some dealers also lure customers by offering warranties and it is advisable to divulge more details about the warranty like duration, coverage, terms and conditions etc before making a commitment. Read – Five Things to Remember Before Buying Car Insurance Online
Which car you should avoid?
A modified car is a complete no-no as the quality of the car is impacted after the modification. Also, models that have been phased out should be avoided, irrespective of the heavy discount. Similarly, repossessed cars, repainted cars and car that have not been used much over a long duration should be left out.
Unpopular models make for a good bargain-
If you are buying a used car and looking for great discounts, it is advisable for opt for models that are less popular as they usually attract heavy discounts.
A car may be visually appealing, but it should be tested thoroughly for its performance – Here are few things that you must consider for evaluating.
Seek advice of an expert-
If you are a layman and don’t know much about cars, it is better to seek advice from an expert, a mechanic or you could take the car to an authorized dealership to evaluate car’s condition. One must note that a used vehicle should always be checked in the daytime so that you do not miss out on any detail.
Verify condition of the engine-
It is most important to evaluate the working condition of the engine. Also, check the engine size to ensure it is not a rebadged unit with a smaller capacity. While verifying an engine, it is important to look for the following details-registration & insurance documents and vehicle identification number through which you can also get the manufacturing date. Besides, check with the dealer for odometer tampering which is quite common in used cars.
Verify all the documents carefully-
Here are few documents that you should verify properly-RTO tax receipt, registration of the car, insurance, original invoice and finance NOC.
Test drive the car-
It is always advisable to drive the car yourself to check the functioning of the vehicle.
Get proper documentation before buying a second-hand car
Do not settle for verbal commitments and get everything documented. Also, try to negotiate on the pricing of the used car. If you have bought the car through a broker, negotiate on the brokerage amount as well.
Beware of fake owners-
Those planning to buy second hand cars should be careful from fake owners as brokers sometimes pretend to be sellers in a bid to earn profit.
Do not miss out on the following-
-Make sure to get duplicate keys from the previous owner and get insurance transferred in your name. Also, do check for the RC book entry when you get the insurance transferred to your name.
-It is important to note down the date, time and odometer reading at the time of delivery to avoid any outstanding liabilities.
-Get your car serviced as soon as you get the delivery.
