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The Ultimate Checklist You Need To Have When Buying a Used Car

by Vikas Singh Gusain Insurance
Purchasing a car can be an expensive endeavor and it is important that you take the right decision. Among all the factors which influence your decision, your budget is a crucial one. Buy what you can afford, but sometimes the price of the car that you desire may not match the expenses that you can bear. In such cases buying a second car makes for the optimal solution. You can pay less and opt for cars that are much beyond your budget.

The same goes for electric cars, i.e. two types of insurance policies – own damage and third-party liability. Though purchasing insurance for an electric car in not different from that for a petrol/diesel car, the policy might require you purchase add-ons like coverage for engine protection.

Used Car Market has Come a Long Way

The used car market has come a long way, today. It has developed fast and dealerships have become more sophisticated. Dealers now work in a smarter way and know how to connect with customers and prospects through various mediums.  Today, you can book test drives over a phone call and expect an amazing treatment at one of the many, swanky dealership lounges, as you spend time gliding through the catalogue of used cars. Buyers, today, have access to a virtual ocean of certified used cars and impressive post-sale service, just a few clicks away. 

Benefits of Buying a Used Car

There are several advantages of buying a used car. When you buy a used car from one of the many company owned car outlets, you get a warranty. You must take note of the fact that the warranty comes with a particular limit on the kilometers that you travel within a stipulated time period. 

Most of these outlets offer great post-sale services. In fact, the mere thought of post-sale services is comforting to most buyers. Additionally, if you opt for a used car, you can buy a higher model well within your budget. You can save on the insurance as well. For instance, if you compare insurance online for a new car, then you’ll find that the premium payable for it is higher than that of a used car. 

Important Tips to Consider before Buying a Used Car

According to a Frost Sullivan report, the market for used car is equal to new car sales in a year. Unfortunately, this semi-organized market is teeming with unscrupulous sellers as well. You may find yourself in a situation where you want to buy a used car, but do not know how to find a good one. When buying a used car, you must remain mindful of a certain things. 


Here’s what you must remember:

Decide on the Amount You Want to Spend: At the onset, you should have your budget ready. You should have a rough idea of the amount that you can easily spend. This way you can restrain yourself from overspending. When you decide on the funds you must take into account the insurance and other related costs. 
Select the Right Model: After you have decided on the budget, the next step is to finalize a car model. You can rummage across various models on the internet and check their specifications. You can narrow down your research according to the specifications that you have in mind. It is advised that you look for cars that are relatively new. Further, you should stay away from models that have been discontinued. 
Be on the Lookout for Certified Vehicles: When you buy a used car, it is advised that you opt for certified vehicles. These vehicles will help save a significant amount of money. When you purchase a certified, pre-owned vehicle, you get the additional extended warranty in addition to the remaining original manufacturer warranty. 
Carry out Car Inspection: Before you purchase a pre-owned vehicle, it makes sense to get it checked properly by an expert. When you get the car inspected, these are just some of the many points you must keep in mind:

I. Everything should be in shape without mismatches and fading.
II. The engine should be in a smooth working condition. 
III. Check the chassis of the car carefully. By inspecting the bodyline, you will get an idea whether the car has ever met with an accident or not. 
IV. Check the tyres for signs of wear and tear.
V. Check the electric and electronics to ensure that they are working fine.
VI. The condition of the battery needs to be checked. 
VII. Check the service history. It will give you an idea of whether the vehicle has been maintained properly.

Go for a Test Drive: Test drive is an important aspect of buying a used vehicle. This will not only give you a feel of the car, but will also help you decide whether the car meets your requirements or not. Ideally, a test drive should be done on different road conditions. When driving the car, be vigilant to check the condition of the brake and clutches. In addition, the mileage recorder should be working without glitches. 
Ensure that the Paperwork is Done Well:  Before you take the final purchase decision, ensure that the paper work is done properly. 
Opting for a Loan: If you have plans of buying an expensive model, a car loan is a good option. Make sure that the documents that you need to obtain the loan are in place. Conduct research well in advance before you buy the car.
Transfer the Ownership: When a car is sold, the ownership too will change. Make sure that the original owner of the car informs relevant authorities (with whom the car is registered) about the transfer and obtains a NOC from them. 
Negotiate the Price: Bargaining is an important component of all purchase. If you feel that the vehicle may require immediate repairs, do well to put up a good bargain on its price.
Important Documents Required For Purchasing a Pre-Owned Car 
Now let’s take a look at the documents which you will need to purchase a used car whether you purchase from a dealer an auto company or an individual:

a. Registration Certificate: The most important document is the Registration certificate. It includes vital information such as the engine number and the chassis number. In case the car has met with an accident and the engine has been replaced, ensure that the registration certificate has the new number. 

b. Insurance: When you buy a pre-owned vehicle, the insurance should be transferred to your name. In case, you do not transfer the insurance, it will be difficult to make a claim in the event of an accident. When you get the policy transferred, check whether the premiums have been paid on time. Find out if insurance has been claimed ever. This will give you an idea of whether the vehicle has been involved in an accident. 

c. Service Book: You will get an idea about the condition of the car if you take a look at the service history of the vehicle. It has been seen that a vehicle which is serviced often is in a better running condition than one which has been serviced infrequently. 

d. Ask for the Road Tax Receipt: Ideally, the first owner should pay the road tax when he registers the vehicle. If the road tax has not been paid, the penalty can run up to lakhs of rupees. As a new owner you may have to bear this burden. Hence, before you buy the used car, ask the owner for the road tax receipt. 

e. Demand a Car Purchase Invoice: When you buy the car from a dealer he will provide you with a printed bill. However, when you purchase the car from an individual, this may not be possible. In such cases ask for a sale receipt. 

Before you make the purchase, check the general condition of the car. At times a car that has done a few extra kilometers, but has been maintained well, can be a better deal than a more recent model that has covered fewer kilometers, but has been left idle for a long time. 

Prior to purchase, check whether the credentials of the car are in order. Ask proof of everything with documentation. If you are getting an additional warranty or a free service check, get it signed by the seller. 

Ensure that you are given a duplicate key. Remember to research well and be alert at the time of the purchase. Once you complete all the above checks, you will find a car that not only matches your requirements but is also within your budget. 

Over to You!

So there you have it – everything you need to know before buying a pre-owned car. Don’t skip out on any of the suggestions mentioned above. Remember, your car is the place where you spend most of your time, after your home and office.  

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About Vikas Singh Gusain Innovator   Insurance

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Joined APSense since, August 26th, 2016, From Gurgaon, India.

Created on Dec 31st 1969 18:00. Viewed 0 times.

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