There are many reasons why people prefer to buy a used car before purchasing a brand new one. Some buy them to improve their driving skills, whereas others for budget constraints. Whatever your reason may be, buying a used car does offer some advantages.
In the US, around 40.8 million used vehicles were sold in 2019. However, there are a few things that you must keep an eye out for before you finalize the purchase. Here’s a list of what to keep in mind before buying a used car.
1. Inspect yourself
Firstly, you need to conduct an inspection of the car yourself to make sure that it’s the same brand and model that was being advertised. You can initially ask someone to do the inspection on your behalf but you must check it yourself at least once. Keep an eye out for any hidden damage.
If you wish, you can consult any car expert to help verify the condition of the car before you buy it. Since even experts might miss out on a detail or two, you should accompany them when they check your car.
2. Check the registration certificate
Next up, ask the seller for the registration certificate. This will help you to verify the authenticity of the vehicle, as well as the seller. If you apply for a used car loan in any bank, they might also ask you to produce the registration documents to clear everything.
The car’s details, such as the engine number, chassis number, etc. should be mentioned clearly in the documents. The certificate itself should be an original one. If it’s found to be a duplicate copy, it shall be marked as DRC.
3. Don’t fall prey to misrepresentation
Many sellers often try to lure potential buyers by misrepresenting the car and putting fake pictures. You must never fall prey to this and get baited.
If you plan to buy a used car online, this shall be especially important for you because many things on the internet can seem too good to be true. Don’t purchase a car solely based on the pictures provided by the seller.
Also, when you meet the seller for the first time, it always helps to meet them in a public spot, such as a mall or a park. If the seller doesn’t ever wish to meet in person, this is a huge red sign.
4. Check the insurance
Being aware of the car’s insurance policies is also a must. When you buy a second-hand car, the old car insurance has to be transferred to the new owner’s name. In case the seller doesn’t do it on their own, you have to ask them to do it as soon as possible.
If the car insurance isn’t transferred, you can face problems in the future if the car gets into an accident or a mishap occurs. Also, check the extent of the insurance coverage. See if it falls under the Third-party liability policy or a Comprehensive policy.
5. Check the ID of the seller
Just as it is important to verify the authenticity of the car, it’s equally important to verify the authenticity of the seller. Many times, the buyer can meet the seller who isn’t the actual owner. In this case, check the identity cards and other important verifications of the person claiming to be the seller.
Of course, you must never offend a genuine seller by prying too much but keep your intentions honest and clear. If you see that the seller isn’t a genuine one, the smartest step would be to walk away.
6. Compare prices
Lastly, you should try and compare prices across various websites to see if the deal you’re getting is a good one or not.
Whenever you buy any item online, you always prefer to compare prices from multiple sites, right? Then why not for a used car? This will help you to identify potential frauds and also save up a lot of money.
However, don’t give in to the temptation of saving a lot of money and going for an unreal deal. Be practical and see which deals are actually good ones and then go for them.
Over to you…
These are a few tips to keep in mind before you say a final yes to the used car seller. While it is beneficial to buy a second-hand car, you must be practical and aware at all times.