5 Tips for Choosing a Great Used Car

Mar 02, 2017

Nitin had promised his younger brother a car on his 21st birthday. But as the sole breadwinner of the family, Nitin had other responsibilities as well. As a result, he had limited savings at his disposal. So, he wanted to find a way to strike a balance between his emotional and financial responsibilities.

He approached his friend for a solution. The friend advised Nitin to go in for a second-hand car. This sounded good to Nitin, who then thanked his friend and asked for a few tips on getting a good deal. Here is what his friend had to say.

Budget

Budget is a crucial factor when looking at used cars. Remember, the purchase price of the car is just the initial investment. Spending on the repair and maintenance of second-hand cars becomes imperative. The older the car, the higher will be the overhead expense. Besides, you have to pay a higher rate of interest on loans taken for buying used cars.

History

Like human beings, cars start to deteriorate after a certain point of time. Before buying a used car, it is necessary that you check its mileage. This is the number of miles that the car has covered. Cars are subject to wear and tear. So, their value tends to depreciate over time. Carry out a detailed examination of the car. Apart from examining the car itself, make sure to check the history of the car dealer as well. This will help you to avoid getting conned.

Test drive

Now that you know the details of the car, see how it runs. The best way to do this is by going on a test drive. Check whether the brakes and gears work well. Make sure the car does not make noise while starting. It is also important to assess your comfort level while driving the car. Sometimes, even a mechanically fit car may not suit your requirements.

Negotiation

There is always enough room for negotiation in the case of used cars. To bring down the price of the car, you must examine it internally and externally. You can justify a low purchase price on account of these factors. For example, say the car has a prominent dent. You can then demand a price cut.

Concluding the deal

Once you and the seller agree on a price, get all the paperwork in order. Ask the dealer for important documents like the registration certificate of the car, insurance certificate, and warranty papers, if any. Ensure that you have these documents transferred to your name. Ask for a valid invoice on making the payment.

The bottom line

Buying a second-hand car is a good option. But you must be cautious throughout the process. First, prepare a budget and keep in mind your disposable income. Next, do some research about the dealer and examine the car thoroughly. After that, negotiate for a good price. Finally, conclude the deal by ensuring that all the relevant papers are in order.