Buying a second-hand vehicle is often one of the most important purchases you make in your life. You can save a lot of money by going with a second-hand car. Also, it makes long-term financial sense. However, you can not neglect the examination of the vehicle thoroughly while buying it from someone else
To help you with the situation, here are some secrets to buy a used car and make a good deal out of it.
1. VIN Check Tool
Before purchasing a used car, it is very important to know its Vehicle Identification Number also known as VIN. It is made of digits and capital letters and consists of 17 characters. A VIN report tells you about the history of the car like the accidents it may have been in or the insurance claim that was made and where the car has been registered etc.
Getting a VIN report will often give you a piece of clear information about the vehicle you intend to buy.
We recommend using a solution like VinPit to find all the hidden details of a vehicle. Performing a VIN check online with this tool is quite easy. You just need to select the manufacturer and search for the VIN of the vehicle.
Overall, running a VIN check allows you to purchase a vehicle with peace of mind knowing exactly what you pay for.
2. Check the Car’s Condition
There are some tricks that you can conduct to determine the car’s condition and in effect its long-term reliability. You can start with the engine which is also the heart of the car to see if it’s okay or not. Check for rubber hoses, belts, and radiators to confirm that none of them are in a bad condition, leaking or broken.
The color of the coolant tells a lot about the condition of the engine too. The dirty brown liquid in the overflow container indicates an issue like a blown head gasket or cracked cylinder head. Also, check the color of the exhaust.
Coming to the exterior, be wary of cars that have undergone any major accidental repairs. Different tones for various body panels, any rough patches or patchy welding gaps, etc give a sign that the car has met an accident. You can also find this out by visiting the service station or by contacting the insurance firm.
Check that the equipment like headlights, air conditioner, indicators, power windows, tail lights, etc are in working condition. Have a good look at all the seats, dashboard, steering wheel and check whether there are any signs of damage.
3. Test Drive
A test drive would reveal almost everything that has so far not become apparent. Take a comprehensive test drive and drive it on all gears, speeds, and all kinds of roads. Test the brakes under gentle as well as pressure and notice if there are any unusual sounds or vibrations.
4. Documents Required
Buying a used car is incomplete without all its documents. The following are required in the transfer process:
• Registration Certificate (RC)
• Insurance Documents
• Invoice of Car Purchase
• Receipt for the road tax
• Owner’s Manual
• Service Book
If the owner does not have these documents, consider it a red flag.
5. Insurance Policy
What if the used car you’re going to buy has expired insurance? Always check car insurance papers when buying a second-hand car. You can buy a car without a valid insurance policy but ownership transfer will not happen unless the insurance is transferred.
If insurance is not transferred within 14 days, a claim can be denied. So paperwork is the key for ensuring a secure transaction and it also ensures that you get a good value for your car when you sell it. Also, remember that it is illegal to drive a car that does not have valid insurance and if caught you will have to pay a very hefty fine.
How do you transfer the insurance policy?
There are two ways :
1. Ask the seller to buy a new insurance policy and apply for the transfer of the insurance policy with his insurer at the time of the RC ownership transfer.
2. Another way is doing it yourself. All you need to do is buy an insurance policy using the filled-out form 29,30 and obtain a cover note on the basis which will initiate the RC ownership process.
6. Getting the Best Price
Before negotiating, make sure to research the vehicle value and know the fair price of the vehicle that you are interested in. Think about different elements. There are a few different things that can impact the selling cost of a vehicle like a tone, in case it was smoked in, mileage on the inside, several past proprietors, maintenance agreements, etc.
Utilize these as components to arrange the cost of the trade-in vehicle. In case the price is very high, be ready to leave. There are a lot of alternatives out there about purchasing a pre-owned vehicle. At whatever point you go into an arranging circumstance, you should be ready to leave in case that is the thing that it comes down to.
7. Car Loans
The interest for second-hand vehicles is higher than for new vehicles, particularly among individuals who are purchasing their first vehicle. Make sure to get all the loan-related documents from the previous owner including a NOC which will clear all the dues that have already been paid.
8. Check for Warranty
A warranty is extended coverage on a vehicle. Make sure to ask the owner of the vehicle about what the warranty covers to get a better understanding of what you are essentially purchasing.
9. Service Records
It is always good to see records that a vehicle was maintained regularly. This tells you that the owner cared for the car and wanted to resell it at some point. A lack of maintenance can cause major power train problems down the road. If the vehicle looks beat up and the engine bay is dirty, it tells you about the type of owner that had it before.
In general, smaller, cheap economies are less cared for, than premium vehicles.
Likely, the used car you’ve purchased would not be perfect, but make sure to check for all the defects you can see in the car. It’s always better to take a friend or a trusted mechanic along if you are not so sure about your judgment. Also, ask as many questions as you can while getting some information on that car.