PRE-OWNED CARS: GLIDE WITH PRIDE

Want to buy a car of your choice but holding back due to the budget? Well, don’t, as you can go for pre-owned cars, which are not only good for pockets, but boast of good performance as well. Gandharv Walia explores

ONE SHOULD DO COMPLETE RESEARCH ABOUT GOOD FINANCE COMPANIES, THEIR INTEREST, PAYMENT OPTIONS, LOAN DURATION, ETC AND EVALUATE YOUR BUDGET ACCORDINGLY. BEFORE APPLYING FOR LOAN, ONE SHOULD UNDERSTAND MANY ASPECTS, SUCH AS VEHICLE’S ACTUAL PRICE, AMOUNT TO BE FINANCED BY COMPANY, ETC.

With the price factor in mind, the market for pre-owned cars has been witnessing immense growth for quite some time. Be it a hatchback, sedan or SUV, one can go for numerous models offered by different car makers, according to the taste.

Be it due to extension of the family, increase in the cost of maintenance of the vehicle or advent of better and fuel efficient cars, many people, nowadays, use vehicles for a few years and look for a change. This ensures that the pre-owned vehicle is relatively new and can be used for a long period of time.

These cars also provide value for money as one can easily get a good vehicle at a low price. The difference in the price between pre-owned and new cars is more attractive for costlier cars.

Whether, you are a first-time buyer or have a small budget, preowned vehicles are a must try. People looking to buy a second or back up car can also look for a pre-owned vehicle.

Involving good amount of research, one should check out all the options available before finalising the vehicle. Beginning with finding the right product, one has to consider many factors for buying a pre-owned car.

Pricing, financing and trust between the buyer and the seller are some of the important factors one should consider. So, if you are looking for a pre-owned car, do your homework on brand, price, variant, loan options, warranty and also where to buy the vehicle from.

As buying a pre-owned car may be a complex task, we list some of the factors one should check out before making the final purchase.

CHOOSE MODEL

Begin by researching about the different car models, prices and technical specifications. Make a list of the desired models and choose one by considering about one’s needs, preferences, budget and driving habits.

Finalise the model, which suits your lifestyle and needs. This will help one narrow down the choices when you take the test drive of different cars of the same model.

It will help one compare the conditions with ease and make the right choice without any doubt. One should consider the age of the car while finalising the vehicle.

Taking a test drive is very important in the car buying process. One should drive the car for around three to four kilometres during the test drive. One should drive the car on different types of roads and observe the performance and comfort in the drive.

Make sure the engine starts with ease, steering does not vibrate and there is no unusual sound or vibration. Vibrating steering means there is some issue with the vehicle. Use brakes properly at normal speeds to check their performance.

Check that the speedometer or mileage recorder is working properly. Clutch should work smoothly. Try each gear and note its performance. At the end, park car on a clean ground to look for any oil leaks from the engine or gearbox.

PRICE

This is one of the most important factors while buying a vehicle. The value of a pre-owned car is ascertained after considering many factors, such as brand, prevailing new car prices, prevailing discounts, age of car, new model launches, fuel type, mileage, spare parts availability and aftersales support. If one is getting a comparatively new hatchback and an old sedan at the same price, one should consider the vehicle condition, features of the cars and other aspects into consideration for finalising the vehicle.

GO FOR WARRANTY

While buying a vehicle, one should look for certified cars, which come with a warranty or extended warranty. Usually the pre-owned cars offered by the dealers linked with manufacturers or the several auto portals come with several kinds of warranty schemes. Warranty is very essential for saving on numerous expenses, usually incurred on an old

car.

FINANCE

The benefits that certified dealers offer are several, such as better and checked vehicles, warranty, owner verified cars, bank loan, etc. Cars bought from the certified dealers make the financing from the bank easier as they certify the vehicles on many parameters, such as age and usage, have systems to verify details from the transport departments to check out any illegal activity carried out with the help of the vehicle, and most importantly, have tie-ups with several financing agencies.

Depending on finance for buying a vehicle? Well, one should do complete research about good finance companies, their interest, payment options, loan duration, etc and evaluate your budget accordingly.

Before applying for loan, one should understand many aspects, such as vehicle’s actual price, amount to be financed by the company, duration of the loan, total amount one will pay for the car (loan amount, interest, initial payment and other charges).

THINK ABOUT MAINTENANCE

While going in for a pre-owned car, one should also consider the maintenance cost of the vehicle as it is very important. The maintenance services and availability of the spares is very important. The overall cost of ownership will become higher if one is upgrading from a two-wheeler to a car or from a hatchback to a sedan.

OWNERSHIP DOCUMENTS

Whichever may be the vehicle, one should check the proper transfer of the vehicle through the verification of the documents. It is not just important for the seller but the buyer as well.

Many companies check these factors beforehand and also give the proof of the sale to the customer. One should also insist on getting a copy of the ownership papers in the name of the owner.