How to buy a Used Car in India
Buying a used car can save you a considerable amount of money compared to a brand new car. In addition Car Companies and Dealers are offering extended warranties and exchanges giving you further peace of mind. Since a car depreciates about 30% in the first two years buying a used car can be one of the best buying decisions you can ever make!
Steps
Plan your budget - Start with a budget in mind and research loan/financing options if necessary. Also get a Vehicle Insurance quote and assess applicable registration and taxes.
Decide on the Make/Model - Buy a Car Magazine to read Car Reviews to help you make your selection. Discuss with neighbors and friends owning the model of your choice regarding the mileage, comfort, performance etc. In addition you can visit a Show room and test drive the cars you prefer.
Assess the fair market value for the make and model you choose by visiting www.carwale.com or referring to a Car magazine.
Finding Used Car Ads – Read the Sunday Classifieds or use www.craigslist.com to find used cars being sold by owners. When talking to a car owner inquire about the condition of the car, if any repairs are required and if the car is currently under a loan. You can also call the local car dealers to find out the cars they have for sale and their asking price.
Check the Vehicle Condition - Take your own mechanic and test drive with him in the chosen piece, before finalizing. Knowing the condition of the car will help you decide if you want to make an offer. Ask the mechanic for advice as to how much he would pay for the car. At the same time ask the owner for the car’s registration papers to ensure that there is no loan on the car.
Making the Offer – With the number of new cars in the market you can strike a real bargain either with a dealer or an individual owner. The important points to keep in mind are to have patience and be willing to walk away if your target price is not met. Start with a price lower than you are willing to pay. If the seller does not agree to the price then give him your phone number and ask him to call you if he changes your mind. To justify your offer make sure you point out any wear & tear and repairs required. Continue looking at other cars until your target price is met.
Closing the Deal – Be sure to get all required papers signed, check the owner’s identity to ensure that he is the registered owner. Always make the payment by check or demand draft so that you will have proof of payment.
Tips
- If you are buying from a dealer ask for a 10-15 day return option in case you are not satisfied with the car.
- Never let the dealer or the car owner know that you really like the car. This will reduce your chances of negotiating a good deal!
- When shopping for insurance ask your agent to provide with both low-cost and low-risk options.
- A Motor Policy A is required by law covers you against compensation due to death or disabilities to others.
- A Motor Policy B is a comprehensive insurance policy and will compensate your for repairs to your car as well.
Caution
If you are buying from an individual and you are financing the car, get them checked by the bank you are taking loan from (some times even stolen cars are sold).
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Excellent Site
Hi, I too am eager to buy a car. I have visited many outlets but yet not satisfied with it. Further I too am lacking with the time. The site mentioned over here ie Craiglist is something excellent. I just check it on daily bases. Plenty of deal are over here. Hope soon I will get best deal. Thanks for sharing.
To buy the used car
Our site cartradeindia.com has got elaborate information about used cars .This is a place where car sellers sell used & used new car.
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