The business of used car has grown in leaps and bounds in India. Nowadays, as a common practice, young drivers are seen exchanging their used car for a new one. This has boosted the new car market so much so that today we can see fall in prices of cars, thereby making it easily available to the commoners. The price consideration is the biggest parameter, which usually pushes one towards buying a used car. Once decided, you can address each issue in a rational manner to get a used car deal that even a new car owner would be envious of.
Major brands such as Maruti, Toyota, Honda, and Hyundai have their used car sales, which guarantee you, car finance, car insurance, service and quality used cars.
When it is about buying a used car in India, there are certain things you should know to become the owner of a perfect pre-owned car. Read on to know more on this -
How to go about a used car:
Finding a good used car is always a challenge. The basic nutshell to buy a used car involves identifying the budget, determination of the size to suit your lifestyle, asking queries including the past condition, right documents, car history etc. to rule out the possibility of being a stolen property.
People mostly go for a car that is one year old to ensure the condition of the car. If the car is well maintained and not travelled much, people might opt for a two or three year old car. However, a car that is more than five years old comes much cheaper than one might anticipate.
Advantages of used car:
The wear and tear of a used car is lower against its newer sibling. You may land up with a good deal most of the times. This comes with a minimum one year warranty and holds a standard pricing. Of all the brands available, Maruti tops the list in the resale market.
The money on the insurance premium can also be saved as the value of the used car is already depreciated by then.
Can I get my used car financed?
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 financier evaluates the car before financing it and provides loans accordingly.
From whom do I buy the car?
Most people feel comfortable buying used car from a known person - a friend, colleague or relative. The other options are of course used car market, not to forget the online market.
Make sure that the car suits your budget and meets your lifestyle:
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. 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 do with a small car. However, 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.
Disadvantages of a used car:
You have to verify the source through which you can buy the used car market with ease need. There are higher chances of being fleeced when buying a used car and therefore you should be careful and select a source you can trust. You can use the Internet, where many Indian car portals provide a good opportunity to find used cars in India with a hassle free buying process.
Check the following papers:
Blue book/Registration certificate: Check for duplicate cases. In case the seller is the second owner, which will be revealed in the RC, value of the car drops immediately. When buying a second hand car remember that the model year mentioned on the registration papers should be the year of manufacturing not the year of registration.
Car Insurance Certificate: The comprehensive car insurance validity needs to be checked. Please note that only third-party insurance is transferable.
Original Invoice and all Service Bills of the car.
Pollution under Control certificate. This is mandatory for transfer of name.
BMC or Municipality Certificate: This is mandatory if the car is registered in a municipal area.
Always check the color mentioned on the registration papers. If the color has been changed find out if the change was due to damage or out of personal choice. It will help you in the bargain.
Brand game: A branded car which has done anything between 15,000km to 50,000 km, it is a good buy.
Now that you have negotiated the best and have all the matters neatly sorted out, be a proud owner of a user car. Happy Driving!