Some people opt for second hand cars to learn to drive before investing in a brand-new vehicle, while others choose it due to budget limitations. Regardless of the motivation, a car holds sentimental value for its owner. This preference for car ownership has fostered a thriving used car market. In fact, the Indian used car market is projected to reach 8 million units by 2026 to 2027. You can purchase a used or pre-owned car from an individual seller (a regular car owner), a broker, or a company.
In recent times, prominent car brands have entered the used-car market, contributing to the growth of India’s organized used-car industry. As a result, you have numerous options to explore. However, it’s crucial to remain attentive and vigilant while navigating these options.
Here are some essential aspects to consider before buying a used car:
#1 Not setting your budget and finances
While it’s true that financial considerations are important, it’s essential to assess your budget before searching for used cars in Gurgaon. The recommended approach involves saving diligently until you can afford to make a purchase. However, not everyone may be able to save upfront. In such cases, you can explore options like obtaining a used car loan or opting for a personal loan to finance your purchase.
Remember that used car loans might only be available through certified dealers and involve certain formalities like hypothecation, like those for new cars. On the other hand, personal loans eliminate the need to deal with vehicle RC and HP-related paperwork. Take your time to evaluate your options carefully before deciding.
#2 Skipping the test drive
A few used car buyers choose to skip the test drive before finalizing the purchase. However, this decision comes with the risk of encountering unforeseen and possibly costly issues. When considering a used car, it’s advisable to test drive several options before making a decision.
This step not only guards against potential regrets but also provides valuable insights into the car’s performance before committing to the purchase.
#3 Not knowing what you are paying for
With countless used cars on sale throughout India, prices can vary significantly from one vehicle to another. It’s natural to question whether you’re making the right purchase at the right price. It is recommended to conduct a swift price comparison of similar used cars in your specific location (as prices differ from state to state).
You can rely on reputable used car sellers for this information, or you can utilize a used car OBV tool by Droom. This cutting-edge pricing tool swiftly computes the accurate price of any car in under 5 seconds. Leveraging extensive sales data, market demand insights, and the latest trends.
#4 Not taking advice from your mechanic
Before finalizing your purchase, it’s crucial to have a car mechanic inspect the vehicle you intend to buy. An experienced mechanic can discern the car’s value through the sound and engine vibrations alone.
Remember, the engine and transmission are the two most vital and costly components to repair for used cars. Neither new nor second-hand car insurance typically covers electrical or mechanical breakdowns. Therefore, it’s wise to have a trusted mechanic thoroughly examine the vehicle to ensure a sound investment.
#5 Buying only for appearance.
Prior to initiating your car search, it’s vital to evaluate your specific requirements from the vehicle. If you need a commuter car, it’s best to avoid browsing through trucks. Similarly, if you’re in the market for a vehicle capable of towing a trailer, steer clear of considering sports cars. Focus on shopping for cars that precisely match your criteria rather than being swayed by superficial factors.
#6 Overlooking service records
Manufacturer-authorized service centers maintain meticulous records of every serviced vehicle. Therefore, it’s crucial to request the vehicle owner for the service records. Alternatively, if you provide the vehicle number and owner name to the service centre, they might provide insights into the car’s service history.
#7 Showing up at the dealership for negotiations.
When buying a used car from a dealership, it’s easy to fall into the trap of visiting the dealership in person for initial negotiations. However, this approach can lead to hasty decisions and potential concessions on your part. Instead, conduct all your research and comparisons from the comfort of your home and aim to negotiate over the phone or via email to maintain a strong negotiating position.
When purchasing from a private seller, remember that they may not be seasoned sales professionals. Utilize the advantage of discussing what you found online over the phone to establish a favorable position before meeting them in person.
Conclusion
When you go on to buy second hand car, it involves various risks to keep in mind, yet you can reduce these risks by taking specific measures to steer clear of errors during the shopping and buying journey.
