As life slowly returns to normal, many people are looking at used cars as an affordable alternative to public transportation. A used car is a safe and viable option for many in this uncertain economy. Moreover, you can drive the vehicle without the jitters of getting that first scratch or dent. However, buying a
pre-owned car can be a daunting task when there are multitude of choices available. To make things easier, we have mentioned seven crucial points that you need to consider before making the purchase.
Let us take a look at them
Figure out the Purpose
It is important to know the purpose of buying a used car. Is it for the daily commuting? Is it for occasional weekend drive or is it for commercial purpose? The clarity regarding the same will assist in making a decision whether to buy a sturdy version, or go for the sporty one. It is important to select a model that suits your needs and lifestyle.
Also Read: Essential Guide for Buying a Used Car Decide on the Budget
Budgeting will help in narrowing down the list of used car models that would suit your range. Moreover, post the budgeting, you can plan accordingly if you want to opt for a
used car loan or use your savings to finance the purchase.
Inspect the Vehicle
You must inspect the vehicle properly before making the purchase decision. You should check mechanical aspects like engine, brakes, clutch, scratches, oil leakages, rusting, mileage, wear and tear, etc.
Check the Papers
Once you have checked the mechanical/technical aspects of a used car, you need to focus on the paperwork. Ensure that the Registration Certificate (RC) book is in proper condition, that the chassis number on the used car is the same as the one mentioned in the RC. The colour of the vehicle mentioned, the number of owners, and other such facts that needs to be confirmed after seeing the RC book. And finally, obtaining a No Objection Certificate (NOC) is a prerequisite to getting the used car reassigned from One RTO to another.
Also Read: Guide to Financing Your NEW Used Car! Take a Test Drive
Take a test drive to gauge the overall performance. The test drive will provide a fair idea of fuel efficiency (mileage), working condition of tail and headlights, and overall comfort levels. It is better to take someone along for the drive to get a second opinion.
Look for the Best Deals
Once you have narrowed down on a model, a broader research will help in finding out the best deal for buying the same. Today, besides the offline dealers, you have online options that offer the best deals and comprehensive packages including after sales service, insurance, and other such offers. In short, negotiate for the best prices and strike a deal that will save your hard-earned money.
Compare the Interest Rates
If you are planning to finance the used car by taking a loan, then explore the best rates available in the market. Most of the
financial institutions offer used car loans and a fewoffer-customised loans with competitive interest rates.
Also Read: Points to Remember Before Taking a Used Car Loan To Conclude
A used car is a perfect solution for those driven by the desire for higher savings. This way, you will have the satisfaction of owning a vehicle at a much lesser price. Selecting a car which is in good condition and has all the necessary documents in place can serve the purpose well.
