In today’s date, a car is no more just an accessory but rather a necessity that every household needs for the smooth functioning of day-to-day activities. In the past few years, the second-hand car industry has grown significantly into a large market, giving thousands of people the satisfaction of owning a car. The sturdy built of the modern-day manufactured cars has allowed man to use them for years efficiently.
When you think about buying a second-hand car, you must be thinking about “buying a second-hand car checklist in India”. Here are a few things to check before buying a used car in India!
Who should you buy a car from?
Buying a car is always a big deal, be it a first-hand car or second-hand car; it is the same experience. While purchasing a first-hand vehicle, you have the assurance of the brand, but during a second-hand car purchase, it can be a chaos.
In India, when it comes to buying used cars, there are three main avenues-
- An individual,
- Used car broker, and
- The franchised used dealer
Generally, the customer-to-customer model is the most comfortable choice in many cases, especially if the seller is a known person. The absence of a middleman, who ends up making a quick buck out of the transaction, gives the buyer a greater leeway to settle for a reasonable price. Another great way of getting in touch with a private seller is through a newspaper advertisement, or through a trusted website like Auto Best Emperio who offer the best deals on second-hand cars from trusted sellers.
Do your homework thoroughly.
The first and foremost thing to decide, while buying a second-hand car, is whether you are sure that the vehicle you have your eyes on is well suited to your necessities, and does it offer you a hassle-free ownership experience to enjoy. To explore this side of the pre-requisites, it is advised that you read reviews of the car, try talking to a couple of existing owners of the car to get an idea of the running costs. These typical problems are found to be associated with the car and the general price of spares and maintenance.
Once you have finalized your choice of car, it is on you to do some homework before you set out on a search for it and begin the negotiations. You can look up the going rates of the car you are interested in. It is essential to know, years of manufacture, variant, vehicle condition, and the color of the car may vary the prices accordingly. Familiarize yourself with the features of the car to help spot things that might be missing in the car.
Decide on a budget for the car.
One of the biggest concerns while buying a car is the amount of money you are willing to spend on it. The primary reason why people decide on a second-hand car is due to budgetary issues. To avoid going overboard and signing up for something that is going to leave a massive hole in your pocket, maintaining a budget to stick to is very important.
It is advised that you decide on the amount you wish to spend on the car, and room for stretching it. While car shopping, you can easily get tempted by the variety of cars, no matter how unconventional they may be. It is vital that you be vigilant and remains grounded while purchasing. It is crucial to know that the initial purchase cost of the car is not the only investment you will be making to the car. A vehicle requires regular maintenance, fuel money, and various upgrades. You must calculate the end amount keeping in mind the cost of the car and all the needs of your car before you go out car shopping Check with your regular bank for loan options and facilities like an overdraft on your fixed deposit as a cheaper option. Make an informed decision.
How old a car should you buy?
Generally, the prices of new cars tend to drop sharply after the passage of three years of ownership of the car. Post that period; values end up plateauing usually. This stage is a good period if you wish to buy a used car. It is said that a two to the three-year-old car would have seen its fair chunk of depreciation but will still be in a relatively good condition if the car is used well. There is a huge chance that if there is an existing warranty or any extended warranty on the car, then it could help reduce the repair bills in case of faulty parts.
It is advised that you keep an eye out for the condition of models that have a high mileage because there is a huge possibility that they could be subjected to a greater level of wear and tear. As a rule, it is recommended to avoid buying cars that are above five years of age. There is a high chance they will expect frequent repairs. Another recommendation is to not buy cars from brands that have been discontinued in the market because they can be elusive and expensive.
What to look for in the paperwork?
One of the biggest headaches, but also the essential element of buying a car is the paperwork. It may seem like a dull job, and you may even neglect it, but making sure that the car’s paperwork is up to date is of utmost importance in any second-hand car purchase. The paper helps check the condition of the vehicle, even if the seller does not disclose the full information.
These crucial documents usually include the following:
- Registration certificate
- Vehicle insurance papers
- Original purchase invoice
- Road tax receipt
- Pollution certificate
- Form 35, if the car was financed, with a copy of the NOC from the company that sponsored it.
It is essential to know that any change in the vehicle, from an engine replacement to a seat cover change, needs to be updated in the registration certificate of the car. So, it is an efficient way to check for any accidents that the car may have faced. This can help understand the real depreciation value of the car, which in turn can contribute to drawing a rough estimate of the car’s value.
These are a few things to keep in mind while buying a second-hand car. Buying a car is always an exciting experience, make it even more pleasurable by making an informed decision!
