Buying a pre-owned/used car can sound so simple, but in actuality it is a process that needs to be thoroughly followed. Not only does it make it sense for the buyer for the sake of security, but also helps in getting a loan, insurance, etc.
Some of the basic steps to follow before buying a pre-owned car in India are;
1) First and foremost, it needs to be determined who you buy the car from. Whether it’s a pre-owned car dealership, someone known to you, used car broker, etc. Each of these options come with their own pros and cons. You have to determine what works best for you after doing a thorough research.
2) Figure out your budget and check out all the cars that are available and that suit your budget. Do your background check on the car you want to purchase and understand how satisfied the other buyers are with the said car. This will give you an idea how your pre-owned car will perform after you have purchased it from someone else. It will also help understand what to look out for in the future.
3) Test drive the car of your choice and check the condition of the car inside and out. If you’re unable to decipher by yourself, seek help from someone who would be able to guide you. Negotiate based on what you see and how the car drives. Mechanical problems and the likes must not be ignored. Also, try to stick to buying a pre-owned car that is not older than 2-3 years. This will ensure that the car has a few more years to pull through without extensive repairs and the depreciation value is also higher, thus ensuring a good rate. Try to buy a car that hasn’t been discontinued as repair work and spare parts would be difficult to find if bought otherwise.
4) Bargain based on what and how the condition of the car is. Whoever the seller might be will obviously want a higher value, close to the value he bought the car for. But you need to stand firm on what you understand, want, and what suits your budget perfectly.
5) Paperwork cannot be stressed on enough when buying a pre-owned car. Give adequate time in sorting the paperwork before jumping the wagon. A few of the papers that you must get in order are –
– Transfer the RC (Registration Certificate) to your name.
– The car insurance must be now made in your name.
– Buy a new insurance in your name if required or if the previous owner doesn’t have one.
– Transfer the NCB (No Claim Bonus) to your name.
Right before you get on to making this car your own, clean the interiors, exterior, change the fluids, fix the small evident damages and other basic but important fixes.
And here you have it, Your brand new pre-owned car, that not only you deserve but are also so proud of!