Five essential tips to keep in mind when buying a pre-owned car
- Unlike buying a brand-new car, pre-owned car come with inherent complexities. To avoid potential headaches down the road, a rigorous inspection becomes even more important.
Whether you're a budget-conscious first-time driver or looking to hone your skills before upgrading, the used car market offers a wealth of options. It's a thriving industry with a wide range of sellers, from individual car owners to established dealerships. However, with so many choices, navigating the used car market requires a cautious and informed approach.
This guide outlines key considerations before you take the plunge on a pre-owned car. Remember, a used car is an investment, and a thorough inspection is crucial to ensure a smooth and satisfying purchase.
Unlike buying a brand-new car, pre-owned vehicles come with inherent complexities. To avoid potential headaches down the road, a rigorous inspection becomes even more important. Here's a checklist to help you navigate the used car buying process with confidence.
Car’s condition
Before finalising your decision, a close inspection is key. Examine the interior for upholstery tears, stains, and functionality of electronic features. Scrutinise the exterior for rust, paint damage, and even alignment by checking if the car sits level. Look underneath for frame damage and assess tire wear to avoid future alignment problems. Pop the hood to check the engine for leaks, corrosion, and fluid condition.
High mileage on a younger car could signal deeper issues, so discuss mileage history thoroughly with the seller. Finally, take an extensive test drive that includes highway stretches, narrow streets, U-turns, and braking evaluations. This comprehensive approach will give you valuable insights into the car's performance, handling, and overall condition.
Service records: A window into car's health
Car owners fall into two camps when it comes to service records: meticulous maintainers with every receipt filed and dated, and those who rely on memory. A detailed conversation about service history is crucial.
Well-maintained records with receipts allow you to follow the existing schedule based on your own driving habits. On the other hand, a car with only a verbal service history requires a more cautious approach. You'll need to assess the car's condition to determine the extent of any potential servicing needs
Verify essential documents
Before you hand over your cash, secure a smooth used car buying experience by verifying the car's history and legitimacy. The Registration Certificate (RC) is key - check it's an original, not a duplicate, and that details like owner name, engine and chassis numbers match the car itself. Confirm the state of registration, especially if you plan to move, as re-registration might be required.
After purchase, ensure the RC is transferred to your name. Don't forget the purchase invoice, which verifies the car's original price and ownership history. Finally, ensure legal operation and up-to-date payments with documents like insurance, road tax, and a pollution certificate.
If the car was financed, obtain a Form 35 and No Objection Certificate (NOC) to prove it's free of outstanding loans. Look out for documented modifications to the engine's displacement or car's colour, as these should be reflected in the RC. By meticulously checking these documents, you can avoid unnecessary hassles and drive away confidently in your new car.
Car insurance
Taking ownership of a used car is exciting, but don't overlook car insurance! Legally, the insurance must be transferred to your name to avoid trouble in case of accidents. Even if the seller hasn't done it, it's your responsibility to ensure the transfer. Review the existing policy - is it basic Third-party Liability (mandatory in India) or a more comprehensive plan?
If needed, consider adding on coverage options during renewal for financial protection of your car. You can also choose to get a new policy entirely. Remember, driving uninsured is illegal, so maintain at least the mandatory Third-party Liability policy. By following these steps, you'll ensure a smooth transition and peace of mind. A transferred policy with potentially enhanced coverage protects you financially and lets you enjoy your new ride.
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Don't Lose Your NCB Advantage!
The No Claim Bonus (NCB) is a discount you earn on your car insurance premium for every year you go without filing a claim. It's a reward for safe driving and is linked to the car's owner, not the car itself. This means you can transfer your NCB to a new car if you buy one, but you can't inherit it from the previous owner of a used car.
If you're selling your current car and buying a new one, your accumulated NCB can translate to significant savings on your new car's comprehensive insurance policy. For example, with a 50 per cent NCB, you can expect a substantial discount. Factor this potential saving into your budget when considering the overall cost of your new car.
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