With the Indian economy growing as it is, there is no place for surprise that the car industry is evolving as well. The majority of cars that are for sale are used cars rather than brand new cars. The main reason for that is financial since cars lose so much value the second they leave the factory and you turn the ignition on, it’s often the best choice to buy a used car.
But, buying a car is never a small decision, and you should always think hard before proceeding with such an expenditure. That is especially true when purchasing a car with some mileage, which is a leap of faith. Therefore it is always a good idea to do some good research with a trusting source before fully committing.
Table of Contents
1. Your budget
The primary and most important feature when you are looking to buy a car is how much money you can manage to pay. When you are talking with a salesperson, and if this is your first time in that situation, they might influence you into getting a car that your household can not afford. So even before setting out to a store, you need to have a figure in mind, this is how much I want to spend but leave some flexibility, just in case that the car you are looking for is a bit more expensive than you expected.
Is your budget set? Time to think about what kind of car will best suit your needs. Once you know what type of car you want, decide on the model itself. Finally, think hard about the specifics, like color, tires, and things like that, but be ready to compromise. Not being able to change your mind is not a good thing when acquiring a new car.
Always be aware that you don’t have to make a purchase right away and that walking away from the offer could get you a better one. Just make sure to leave contact information, and if the seller can not get as much money as they hope, maybe you get a call.
You should also bear in mind that interest loan rates for cars that are not brand new are often harsher for your budget, so that might be an extra expenditure for you as well, so maybe consider a short-term loan with better interest rates.
4. Buying from a car owner
If you choose to buy from a car owner directly is absolutely the swiftest one, which you contacted by a friend, some website, or a newspaper add. You might think it is also the easiest one, but you should still be careful. Here your negotiating skills will be more crucial than in other situations. You could get a better price, but also a far worse, than what is the car objectively worth.
5. Smaller car broker
You could also try out small-scale used car brokers. That is one of the best options if they already have the car of your dreams in their stock. But just like with an individual car owner, here you will also need to be careful in your negotiations and do a full background check for the car.
6. Large car sellers
Last but not least, we have the organized used car companies. Probably the most expensive of the three choices, but if your finances can afford it, this is the safest option. Here you will have to trouble yourself the least when it comes to the state of the car since they are already thoroughly examined. Paperwork will also be something you don’t have to concern yourself as much, but here you will have the least opportunities to bargain the price down.
7. Important paperwork
Getting yourself a used car might seem like a high risk, but as long as you are careful and diligent, your decision will stand the test of time. But for that to be true, you need to deal with the paperwork, a step as important as a complete investigation of the car. Some of the crucial documents comprise a road tax receipt, pollution certificate, registration certificate, and others.
8. Registration certificate
Never forget those special alterations to the car, including but not limited to the new color or engine change, need to be a part of the registration certificate too. Being positive that car doesn’t have any traffic incidents in its history is also one of your affairs.
Sometimes the previous owner did not have an insurance policy, so you must apply for one. Luckily this is as uncomplicated as getting or replacing a regular one. However, there will be a need for a quick vehicle inspection from the insurance firm themselves. But even if the person you bought the car had insurance, it is always a good idea to get yourself a policy on your name. This way, you get to pick your own insurance company, you can choose the terms you are satisfied with and also do some more bargaining for a possible better deal.
The final touch
Even when you finally get your car, your work is not over. There are some things that you need to take care of before you start driving. They should do it themself, but if they didn’t, be sure to do a thorough clean up of the car, inside and outside. If you don’t have time, you should consider professional businesses that are specializing in this area. Your inspection of the car might have shown you some small fixes that you should do. Fixing lights, spark plugs, and so on and on. A piece of good advice is to regularly change the fluids of the car because it is essential for the car’s life expectancy.
There is a lot of entrepreneurs that are working hard to make this industry better for consumers. Retailers are becoming more organized, banks are giving out loans more often, and it is much easier to get a warranty on the car you are buying. And when you boy and do all of this? Then you are ready to open a new chapter of your life.