Updated On: 29 July 2021 Jatin Jhamb
Did you know that the sales of used cars are more than the new cars? Well, now you know. Buying a car is everyone's dream and with the skyrocketing prices of new cars these days, it is wiser to invest in a used car. We have brought you tips regarding how to purchase used cars in our earlier post but today, we explain some of the used car buying mistakes people do while buying a used car. Let's get started!
The used car market has a variety of options and if you do not have your budget set right then you might spend up more than you want. So have a budget and then search for the car that you are looking for.
Some people do get carried away just by the sweet deal on a particular car which might look good to their eyes, but not fit for their purpose on a daily basis. Theres more to what meets the eye while looking for a used car so first decide your purpose and requirements and then go for the car that fits all of them.
This is one of the biggest used car buying mistakes people commit. While buying a new car, a test drive has become a common practice to test the capabilities of a car. However, when it comes to used cars, it surely becomes a necessity to examine whether all is perfect with that particular sample or not. Many people do not take a test drive or the seller does not provide one. If the latter is the case, you should lay more emphasis on taking a small test drive.
A used car definitely has higher chances of having a possible mechanical or electrical defect when compared to an all-new car. If you yourself are not technically that sound, you should take a mechanic along with you and get the car inspected thouroughly.
Used cars demand a higher rate of interest as compared to new cars if you will purchase them on loan. If you have fixed your budget but have no idea of the interest being accumulated on it, it will create an unnecessary burden on your monthly finances.
This is one of the most common used car buying mistakes committed by laymen who have a scant idea of cars in general. Used cars are naturally subjected to wear and tear in their previous duration of usage, and if there is any service history related to the vehicle that is hidden by the seller and involves major costs for repairing or rectification, it will surely take a hit on its overall value.
Always have two to three choices with you when you are looking for a used car. This way you can explore other options and even end up buying a better alternative than the one you selected before.
If you are in the market to buy a used car then make sure you have your bargaining skills right. This helps in getting sweeter deals and several discounts when you purchase a used car.
Well, this point is valid for both the individuals, one who is selling their car and the one buying that used car. A proper documentation check should be in place and make sure that the RC is transferred to you within a span of 90 days.
One should always check the odometer reading of the car they are buying as it involves a lot of factors regarding the wear and tear of the vehicle, fuel efficiency etc. Higher the odometer reading, lesser the resale value. It is recommended you buy a car with less than 40,000 km on the odometer.
If you have narrowed down a car of your choice then do check its insurance papers to see if they're valid. Manier times the insurance expires within a month of you buying the used car and then you have to fund the insurance out of your own pocket. So, it is safer to buy a used car that has an extended expiry date so you can get your finances sorted by then.
There will be times when the used car dealer will lure you with loads of accessories but the decision is yours to deny everything that does not concern you at all. This way you will save your pocket from the added expenditures.
So, with this, we hope you will totally avoid the used car buying mistakes we've listed out above. Do let us know in the comment section below. Also, subscribe to our exclusive 91Wheels Telegram and 91Wheels Whatsapp group where we bring you all the latest updates related to the Indian Automotive Industry.
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