The private marketplace for used cars can be a minefield and hence the right tips for buying a used vehicle can prove to be invaluable when making such a purchase.
Used car market is booming, especially in the Covid era since the virus has severely affected spending capacity of the car buyers and hence more people are now willing to invest in used cars.
So if you are planning to spend your hard earned money on a used car, make sure to give the below article a thorough read to learn the right tips to consider when going for a second-hand vehicle.
Decide a budget:
Decide the kind of money you need to invest in a used car. The older the vehicle, the cheaper it becomes.
The value deprecation of a car depends on many factors such as the years and kilometres it has done.
Decide the type and make:
Zero down on the kind of car you wish to buy, whether a SUV or a sedan or hatchback. Usually SUVs come at a higher price tag than say a sedan or hatchback. So you might have to shell out more money for a SUV.
Online marketplace vs offline marketplace:
A simple research on online marketplace will give you an idea about the average pricing on the car/model you are interested and you can use this data to compare with products available at your local second-hand car dealers.
Inspect the vehicle:
Once you've zeroed down on a specific car, inspect the entire vehicle carefully. Look for a recent touch-up, repaint or a dent which can be used to negotiate the value down further. Also, you can use the help of a local mechanic to check the car's mechanicals in details. Also check for the details like tyres treads, battery life, etc.
Ask for service history:
You have the right to ask for the service history of the car, and it's a bonus if the vehicle has been well kept and maintained at the authorized company service centres.
Check if the seller is the original owner of the car or not. The Owner Serial Number in the RC document indicates the number of times the car has been sold till date. Also make sure if the owner has paid all dues.
Also, all the papers that the seller provide - including the original invoice, NOC from the car loan provider, and road tax receipt - need a verification check before you make the deal.