Buying a used car is not an easy matter. First of all the decision of buying a new car vs. a used car needs to be addressed. A new car has a number of obvious advantages over a used car. You don’t need to worry about its condition, it comes with a minimum 1-year warranty and there is a standard pricing. But the price consideration is the parameter, which usually pushes one towards buying a used car.
Once you have decided to buy a used car, you can address each issue in a logical manner to get a used car deal that even a new car owner would be envious of.
Does the choice of car have anything to do with my life-style?
The car you buy has everything to do with your lifestyle. If the family is bigger, a car that can seat more number of persons is the ideal solution, while a smaller family can make do with a small car. If you intend to change your car within 1-2 years then you may go in for an older car, but if you intend to keep it for a longer period, it is worthwhile to invest in a new car. If you have long miles to cover between work and home, it would be prudent to go in for a car with good mileage.
Will it suit my budget?
There are two aspects to the budget. One is the cost of the car, which is one-time. Second is the running and maintenance costs, which are monthly/repetitive costs. The running and maintenance costs of small cars are much lower and hence they are a popular choice for used car buyers. Although bigger cars are available at very attractive prices one should keep in mind their running and maintenance costs before you go ahead and make a buy. Of all the brands available, Maruti tops the list in the resale market. This is primarily due to the reliability and easy maintenance of all Maruti cars.
What do I check in the car?
Newer the car, easier it is to maintain. A car which is lesser than 2 years old is likely to give you less trouble. The major thing to check in a used car is the mileage. Any car that has traveled less than 15-20 thousand kilometers is an excellent buy. There are cases in which the odometer may have been set back, therefore checking out the wear and tear on the brake, accelerator & clutch pedals and the gear knob would give you the actual idea of the mileage the car has done. A well-maintained older car with less mileage is a good bargain as the year of manufacturing and not the mileage decides the price of a car. A careful inspection of the chassis may reveal signs of any accident the car may have been involved in. Professional help can also be sought to evaluate the car, but for a fee. There are professional evaluators who can evaluate a car and give you the exact price for the car.
Can I get my used car financed?
The answer is an emphatic yes. There are many banks that provide loans for used cars. The interest rate is a little higher than the prevailing rates for new cars. The loans are provided for relatively new cars (not older than 5 years.) The financier evaluates the car before financing it and provides loans accordingly.
Who do I buy it from?
Most people feel comfortable buying used car from a known person - a friend, colleague or relative. This may restrict your choice and also may cause embarrassment in case of a not-so-good-deal.
The second option is to check the classified columns. In case you are able to find a direct seller of the car of your choice, you should be equipped with adequate knowledge about the market price of the model. As the market price keeps changing from time to time a little bit of research comes handy.
The third option is to buy from your neighborhood Used Car dealer. Here you should keep your antennas up for glib talking smooth operators and drive a hard bargain.
There are few company-backed Used Car dealers too. They recondition used cars and provide some kind of warranty on them as well. The cars as a result are priced a little higher than the market price but may be worth their price for the peace of mind they provide.
The latest option for buying used cars is a website like ours. Fill up a form and you receive competitive quotes from a number of dealers while sitting comfortably at home.
What extra-care do I need to take regarding paper work and insurance?
Careful examination of the Registration Certificate (RC) and the Insurance papers is mandatory. The RC would reveal whether the seller is the first owner of the vehicle. In case the seller is the second owner, the market value of the vehicle plunges immediately. It also tells you whether the vehicle is pledged to a financier. Ask for a No Objection Certificate (NOC) incase it has been pledged. Also get the car registered before making the full payment so that the seller clears the previous liabilities and you are not stuck with the paper work later.
Insurance papers would reveal whether the car is insured and for which period. It is NOT a good idea to buy an uninsured car as insuring it will be a difficult and expensive process. Also please note only third-party insurance is transferable. For claiming repair charges you need to get the car insured in your own name.
Now that you have all the matters neatly sorted out, be a proud owner of a used car.
Happy Driving! |
