A lot of thought process goes into buying a used car in the Indian market. Although it is obviously smarter to buy a second-hand car, there are a number of factors that go into selecting the right one. It is extremely important to follow some ground rules or create a checklist before you can actually move forward and buy a pre-owned vehicle. Here are some vital tips that could help you save some cash or get a great deal on a premium model car.
Checking and Inspection
While you might be investing in a used car, it should be in proper working condition. The car should offer some amount of value to you as well as the seller and should not be something that ends up costing you more than you initially thought it would. This scare can be eliminated through a number of inspections and tests – usually with a professional mechanic by your side.
Here is where you need to check the car’s engine, suspension, brakes, wheels, transmission, and other important components to see if they are in proper working condition. Only when the car is approved by a professional should you move forward, if not, it could lead to you buying a faulty vehicle. Even when you do make a decision and receive the car, carry out another inspection to see that the car contains all the same parts that were there during the initial inspection.
Documents and Registration
This is another vital step when you buy old cars in India which many people tend to look over. Valid and legal documentation of the car is necessary when it comes to taking ownership of it from the previous owner. Through these documents, you will get to know the age of the vehicle, how many owners there were before you buy it, have the dues have been paid, and more.
When buying a second-hand car, ask for the purchase invoice, insurance papers, RC transfer, NOC certificate, road tax receipt, and other important documents before you can actually make the payment. Make sure that the seller has submitted Form 28 or the NOC for the transfer while the seller and you must sign Form 29 and 30 from the RTO before complete ownership can take place.
Prepare for Modifications
When it comes to used cars, you will never really get exactly what you want – unless you are looking for the absolute basic models. For those who are looking for a second-hand car that can offer something more, modifications are a way to take a regular car and transform it into what you’re looking for. But these modifications can cost a lot and therefore, you need to learn how to negotiate on the car’s price.
If you find that you can take a regular car and add a dual-fuel engine into it to make it more efficient, it would cost you quite a bit and spending more on a premium model would make no sense essentially. Likewise, if you want to upgrade the car’s safety features, you would have to invest a lot more that you would have first expected. Whether you want new headlamps or a new sound system, modifying a used car will cost you money. This is why you should prepare a budget on how much you are willing to spend on a car. While older models will be more affordable, they are almost impossible to upgrade or modify whereas the latest models will cost a lot more and could reduce the number of modifications you want. Finding the middle ground is important when it comes to a used car that you can properly modify.
Ownership Duration
Finally, when you decide on a car you want, you must ask yourself a very important question – how long do I want to keep this car for? When it comes to new cars, we don’t have to worry about this as it comes with new parts that will run properly for at least 10 years without a problem. Used cars, on the other hand, come with already used parts which bring down their performance by just a bit.
Usually, the best time to buy a car is when it has completed 2-3 years as its depreciation rate has leveled out and is good to go for about 7-8 years before it needs repairs and modifications. A car older than 5 years might cost less when buying it but eventually, it will only offer you about 2-3 years of proper service before it needs repairs. So, if you plan on owning a used car for more than 5-7 years, look for a car that isn’t very old and has been properly maintained by the seller.
With these useful tips, you can go out and buy a used car with confidence and rest assured that you will get the most out of the model you buy. Buying second-hand cars in Kolkata or in Mumbai requires the same amount of research and these tips can save you time and money when investing in a pre-owned vehicle.