At times of financial insecurity, buying a new top branded car can cost you an arm and a leg. But you can still own a branded car by going for a budget-friendly second hand car of the same model.
Here are a few tips that you need to keep in mind while buying a used car.
1) Weigh the pros and cons: While buying a used car can be pocket-friendly as you can buy at half the market cost and pay relatively low amount on insurance, but its maintenance cost can be too high. Besides old cars also tag you with previous legal issues if you do not make proper investigation of the past service record. A brand new car may be quite expensive but will require minimum maintenance.
2) Buy from a known person: You are less likely to be duped and more likely to get at a cheaper price when buying a used car from a friend or a relative. Because of the familiarity with the person, you can fix informal meetings with him and discuss in detail the reason behind selling, purchase and service history of the vehicle, take the car to a mechanic for inspection, bargain rates, etc.
3) Check the credibility of the dealer: In case you opt to buy from an unknown private seller or a car dealer, remember to check the credibility of the dealers. Gathering background history of a private seller and checking reputation and customer satisfaction of the dealer is a must before buying.
4) Make sure the essentials are in perfect condition: After a proper physical inspection, make sure to check all the essential parts of the car, so that you do not land up spending extra bucks after purchase to get the car moving. Check the engine, coolant, clutch, brakes, exhaust system, head and rear lights, air-conditioner, etc. Always start the car yourself and take it for a test drive.
5) Check the Odometer: Check odometer to determine the car’s mileage and age. But odometer fraud has also become rampant today. If the odometer shows unusually low digit, then be sure it has been tampered. In fact, buying a car having low mileage is also not a good idea.
6) Check the documents: It is important to check all the important documents that will help you know the real age of the car. As car is a depreciating asset, knowing the real age will enable you assess the actual resale cost and save you from being duped. Some of the necessary documents to be verified are RC Book, Original purchase invoice, Insurance Certification, PUC certificate, etc.
7) Transfer the insurance: When buying a used car, it is always wise to get the insurance transferred from the previous owner to you. If the earlier insurance has expired, you get a chance to bargain the price more because you are left to do the insurance on your own. Get free car insurance quotes online to help you choose the correct coverage plan for your vehicle.
8) Check online deals: Checking for online second hand car deals is not a bad idea. There are many reputed online sites that give you a wide variety of brands and models to choose from, give free insurance quotes and attractive deals, help compare prices listed in different sites, and ensure better loan opportunity.
9) Don’t be hurry or be sorry: Buying a used car is no easy task. Being in a hurry can land you with a worn-out vehicle and heavy financial loss. You should devote sufficient time to research about vehicles past service record, dealer’s reputation and background, resale value, pre-owned car insurance schemes, etc.
10)Make it clear in mind- diesel or petrol: The choice between diesel or petrol car is always a dilemma for buyers. As the resale value of a diesel car is high, you are likely to pay more for a diesel model than a petrol car. The maintenance cost of a diesel car is also high. If you want a car for personal use, it is better to go for petrol cars. But if you are looking for more mileage and better fuel efficiency, then diesel car is the best choice. These suggestions will certainly help you make smart and informed decision while buying a second hand car.