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Tata Capital > Blog > Loan for Vehicle > Consider These Tips While Purchasing a Used Hatchback Car

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Consider These Tips While Purchasing a Used Hatchback Car

Consider These Tips While Purchasing a Used Hatchback Car

If you’re looking to buy used cars or buy second-hand cars, it can be challenging to find the right one. The fear of purchasing a car that may not be fully functional is one that may stop you from proceeding with your purchase or lack of sufficient funds may be a deterrent as well. You can plan out financing of the car with the help of Tata Capital’s second-hand car loans or used car loan. Alternatively, the purchase can be useful, if chosen wisely and one stands to reap significant benefits in terms of costs that are significantly lower since new cars lose their value almost immediately after purchase – that is how depreciation works.  Below is a list of things you can look for in a prospective second-hand car to ensure you make a good purchase.

1. Identify the Car You’re Looking to Purchase

The first step in purchasing the right second-hand car or a used car is to narrow down your car search to within one or two models of the car you want to buy. Don’t hesitate to be thorough with your research. After all, it will prevent you from making regrettable choices or being duped by salespersons. Some of the most popular hatchbacks in the country at present are the Tata Tiago, Maruti Suzuki Alto, and the Renault Kwid. Once you figure out the car you seek, you can identify your budget and plan out how to finance the used car.  Tata Capital offers some of the best used car loans in India.

2. Take the Car for a Drive

Driving the car will probably serve as the fastest indicator of the car’s health in case of any pertinent issue. When taking sharp turns and going over bumps, lookout for unusual noises coming from the engine and other vital parts. Ensure that the steering, gears and brakes are functioning as they should be.

3. Thoroughly Examine Relevant Documents and Car History

Apart from performing a thorough visual and drive inspection of the car, go through the maintenance and service records of the car to ensure that there is no persistence of any previously reported issues in the car. Make sure that all valid documents including original registration papers, existing insurance policy-related documents, tax documents and the PUC certificate are in order.  

4. How Old Should the Car be?

The car you’re purchasing should ideally be no older than three years. The value of a car begins to plummet almost instantly after it is bought. After three years, however, the market price somewhat begins to plateau. So, ideally speaking you should look to purchase a used car that’s been plying for no longer than three years.

5. A Bit of Bargaining Advice

Your homework and due diligence will come in handy and help you strike a suitable deal for yourself. It will help you identify a reasonable price for the product and give you the posture to be able to walk away from a deal that is unfavourable or unfair.

A bit of general advice to keep in mind. Do not hesitate to walk away from a deal that seems fishy or from one that isn’t right for you. Have a clear idea of what you want to buy, what price you’re willing to pay and how you’re going to finance the purchase before you begin with any sort of negotiation. Go for Tata Capital’s used car loan or used car finance and purchase the right used hatchback car. The relevant information will give you confidence and clarity while heading into the negotiation process.