Over the years, pre-owned vehicles have always enjoyed a charm of their own because of multiple advantages. With people realizing the need of owning personal mobility, the pre-owned car market has shown realistic choices in the midst of pandemic and other factors. Buying a used car can be a smart investment however finding the right car can be a task. Niraj Singh, Founder & CEO, Spinny shares his knowledge on how to go buy a pre-owned car hassle-free and with a smooth experience.
Choosing the right car
“First, decide on the vehicle meeting personal and family requirements, and remember to check what you want in terms of features, specs, and the type of car you want to buy. For instance, a hatchback or compact sedan may be more worthwhile than an SUV. As always, it’s best to budget the purchase to avoid overspending,” says Niraj Singh.
Decide on the seller
“One could buy used cars through dealerships or private sellers but it can be a tedious task considering the formalities & so on. However, on the other hand, organized dealers, especially online full-stack car retail platforms will offer more value, convenience and safety for buyers. The transparent process also boosts the trust quotient between the portal and purchasers. Buyers will receive vehicles that have undergone a 200-point evaluation to ascertain they are fully safe and roadworthy. Unlike offline used car dealers, online retailers go the extra mile and check vehicles extensively. Warranties and guarantees are also available for any post-sales problems. These include a limited period money-back guarantee, fixed price assurance, one-year after-sales warranty, etc. Prospective buyers will also receive a vehicle’s entire history, including repair and maintenance details. Moreover, a wide range of cars is available for selection,” Singh advised.
Price factor
He further suggested, “An excellent vehicle may be available for less than the budgeted amount. Don’t rule this out simply because it’s much lower than the budget. The savings may cover the annual maintenance, insurance premium, or fuel expenses.”
Take a test drive and check the car’s condition
“There is no purpose in purchasing a car if it cannot be used. Only purchase a used car after a test drive. When driving, check for unusual sounds, vibrations, or other indications of mechanical issues. Check all the lights, air-conditioner, power windows, brakes, and other accessories, including the wear-and-tear level, the external and internal condition, additional paintwork done, etc. Finally, inquire if the car was involved in an accident. Unless satisfied with the prospective purchase, it’s best to take a mechanic along to check the vehicle,” he advised.
Check all necessary documents
“After covering all the important above points, check all the relevant documents before closing the deal. The registration certificate, insurance papers, pollution under control certificate and NOC (no objection certificate) A NOC is essential if the car was purchased via a loan and will certify whether the loan is paid off. Scrutinize these documents closely to rule out forged papers,” he said.
“If the above guidelines are noted before buying a used car, prospective purchasers will remain well within their budget while also procuring an excellent vehicle,” he concluded.
(Disclaimer: The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
