You may consider buying a used car for several reasons. First, such vehicles are cheaper than new cars. Secondly, purchasing a pre-owned car if you want to hone your driving skills is also beneficial.
However, buying a used car may be worrisome. You may be unsure about its condition and warranty. Fortunately, car manufacturers are using advanced technologies to make vehicles stylish and durable. This makes buying a second-hand car a good option.
The limitations of purchasing old vehicles are further eliminated through certified dealers. They undertake a thorough inspection of the vehicles to ensure the cars are working smoothly. Some dealers may also provide warranties that make it affordable in case any repairs arise in the future. Used car finance offered by financial institutions is also playing an important role in increasing the demand for second-hand vehicles.
The first step to buying a second-hand car is to compare a few sellers. It is recommended you narrow down your choice because there are several pre-owned cars available in the market. Buying a car in good condition is also important if you want to avail ofsecond-hand car finance. You may shortlist the vehicles by taking a test drive and thoroughly inspecting the car. Here are two ways to select the best car.
- It is recommended you gather as much information as possible about the various vehicles that are being advertised before takingthe test drives.
- You must check the credibility and reliability of the sellers (individuals or certified dealers) to ensure you do not have any trouble in the future.
Here are seven aspects you must check with the seller before purchasing the car.
- Reason for selling
If the seller hesitates to answer or sounds nervous, you may assume that there may be some issues with the seller. He may not have maintained the car in a good condition and is now trying to sell it to reduce his troubles.
- Kilometers driven
The total kilometers driven help to determine the fair value of the used car. You may check online for the approximate value of similar cars with roughly the same mileage before beginning the negotiation process. It is important that you check the kilometers while taking the test drive. In case the mileage is significantly more than what was told to you or if the mileage indicator is stuck at a particular number, you must not buy the car.
- Vehicle’s condition
While determining the car’s condition, you must check for structural as well as mechanical issues. Furthermore, you must determine the issues you are willing to deal with and those that are deal breakers. If you find the condition of the car to be worse than what was communicated, you must avoid purchasing the car.
- Special features
The price of a vehicle goes up when it is fitted with special features. For example, premium seats, Bluetooth technology, driving aids, and latest gadgets may increase the cost significantly. Asking the seller if the vehicle comes with any such special features is important. It will help you not only estimate the price but also determine the amount of loan for a second-hand caryou may require.
- Any accident
If a car has been in an accident, there is a higher possibility of faults in the vehicle. If the seller denies but on inspection, if you find any damages or repairs, it is recommended you do not buy the car.
- Service records
When an owner maintains proper service records, you may be assured of being able to buy a car in good condition. When a vehicle has been periodically serviced, you may rest assured that it would be well-maintained.
Thereafter, you may test-drive the shortlisted cars.You must then select one and negotiate the price and agree on a mutual value to complete the purchase.
Owning a car has several benefits. It is convenient and hassle-free.These days, loans for used cars are offered by most financial institutions. Here are three features of such loans.
- Minimal documentation requirement for a quick and hassle-free loan procedure
- Lower down payment and higher second-hand car loan value to prevent financial constraints
- Longer loan duration to help you easily service the Equated Monthly Installments (EMIs)
Moreover, to make your purchase affordable, lenders offer affordable and competitive used car loans’ interest rates. So, get rid of your daily commuting troubles by purchasing a used car.