What to look for when you buy a 'Used Car'
Look for hidden problems:
- History (antecedents, accidents, insurance, depreciation)
- Ownership (antecedents: single owner/ multiple owners)
- Mechanical/technical problems
- Clear titles/credentials
Research:
- Search online for information
- Use online quote systems
- Compare vehicles
- Do not opt for the very first car you scrutinize
- Look at as many vehicles as you can before you decide on 'the One' that's just right for you
Ratify the value of the vehicle:
- Get the vehicle rated by authorized dealers/service centers.
- Caution is advised whilst dealing with private parties.
- Contact the manufacturer to find out about the warranty features.
- Consider the resale value of the car.
Exterior checks:
- Check for dents, nicks, scratches, and the overall condition of the car. A mechanic could help here.
- Check the tyres for wear and tear.
- Look for signs of re-painting.
- Look for oil leaks.
Interior checks:
- Check on the quality of the foot pedals and steering wheel for excessive wear.
- Look at the cockpit and instrumentation - your personal opinion counts most.
- Check the quality of the dashboard lights.
Test Drive:
- Go for a thorough test drive and observe your comfort levels during the ride.
- Does the steering wheel vibrate?
- Study the responsiveness of the Brakes.
The Finance Factor:
- Work at your payment mode before you venture forth.
- Credit card payments should be avoided because of high interest rates.
- If you're opting for a loan, look around for an easy-on-the-wallet EMI and competitive interest rates
(banks offer the best loan/finance options).
- Independent finance institutes too are a good place to look at for loans.
Clinch the deal:
- Ensure that the terms and conditions of the deal are obtained in writing.
- Negotiate for a better price.
- Conduct a thorough study about the market values of the car you are buying; that way you are better
equipped to go about the business.
- Know that a well stocked dealer will cut a better deal.
