Car Loan Rates EMI 2020936 views
People with less budget are always drifted towards the option of buying the second hand car. You may find it interesting to note that used car market is bigger than the new car counterparts. You may be wondering how. The answer to your query is the higher sales of second hand cars than the newer ones. Over 3 million used cars are sold compared to 2.2 million new cars in India. But before you make your mind to buy the second hand car, do follow the points below to stay safe and secure.
Know your budget
While you step out to buy the second hand car, it is necessary that you know the budget so that you can buy the car at an affordable price. This will keep the finances in check and help you choose the right model at the best price.
Opt for certified pre-owned cars
Go for certified pre-owned cars while you buy the second hand model. Simple reason is because these vehicles offer benefits that you find in new cars while saving your hard earned money at the same time. When you buy certified pre-owned cars, you get extended warranty as well as the remaining warranty from the original manufacturer of the vehicle.
Do proper paper work
There is a possibility that you may buy a stolen car as the person selling it may put forward a very tempting price to get rid of the crime by doing so. Don’t fall prey to such fraudulent means and ensure proper paperwork before clinching the deal. Check-list for paperwork includes registration book, taxation book, invoice, PUC certificate. Details related to these documents are illustrated below.
Registration Book– Issued by the Regional Transport Office (RTO), the registration book shows the date on which the vehicle is registered. You can match details like engine and chassis number with the one shown in the RC book. Further, the RC book must have had a new chassis number if the car has met an accident.
Taxation Book-It shows the status of tax payment. You must see whether the RTO tax has been paid by the original car owner or not.
Invoice-Details like engine and chassis number, delivery date and others are mentioned in the invoice. You must ensure to get the original invoice from the car’s owner.
PUC certificate–A valid PUC certificate, which is required for every car, remains valid for one year for all the new vehicles. Further, the certificate is required to be obtained every 6 months.
Enquire necessary details
Second hand cars can be purchased from the dealers, individuals, as well from the Internet which has proven to be an exciting trading option for old vehicles with new offers and discounts. But if you choose the option of buying the used car from individuals, then you must quiz the person on his/her intentions behind selling the car. Also check with him/her about the usage of the car. If possible, seek permission to get the car checked by a mechanic. If you find any dubious stuff while following this method, approach the other seller.
Ownership transfer-As ownership changes with the sale of the car, the original owner must apprise the RTO regarding the transfer of the vehicle by sending a letter showing information about the new owner within 14 days.
Bargain-You can negotiate to reduce the price of the car depending upon its condition. If immediate repairs are required in the vehicle, then you can talk to slash the price. Further, you can visit several websites that are engaged in buying and selling cars online.
Car inspection- Make sure you check the interior as well as exteriors while buying the used car. Inspect the chassis as it will give you an idea whether the car has met with an accident or not. Also check for the battery and working condition of electric and electronics.