The second hand car industry is under a booming growth streak, with more and more people taking advantage of all the available benefits. Modern-day automobiles are built to last for a long time, so opting for one is a rather smart decision.
Given how profitable used cars in Delhi, Mumbai and other cities are for sellers and buyers, you can rest assured you will get a great deal if you decide to dip your toes in the market. Regardless, it is a lengthy process that requires one to follow a checklist to ensure everything is in order. Listed below are some essential tips both used car buyers and sellers should keep in mind:
Table of Contents
Check the Car’s Condition
The vehicle you are considering buying should be in good running condition and offer good value for the money, despite being a used automobile. Take the car for a test drive and have a reliable mechanic inspect all major systems, including the engine, cooling, gearbox, wheels, etc. These inspections will allow you to confirm whether the seller’s assertions about the car’s upkeep are accurate. These inspections will also help you set the right price if you are selling.
Keep All Documents in Order
A lot of paperwork is involved in dealing with cars, so you should sort these out as soon as possible. Sellers should provide the buyers with important registration documents like RC book, road tax receipt, NOC from the original car provider, RTO forms 28, 29 and 30, original invoice, insurance documents, proof of the sale of the car, proof of delivery of the car to your possession and more. Buyers should double-check if the seller has provided all the documents.
Car Maintenance Records
Maintenance records are a very important type of paperwork that you should always ask for.The transparency allows both sellers and buyers to form a foundation of trust before the sale of any used car. It can be easier to bargain for a lower or higher price if you have thorough records of the repairs and maintenance done to the vehicle. In addition to giving you the impression of being a very careful owner, the documents will demonstrate that your car was truly always maintained correctly.
Although economical, buying a car is a substantial expense. You can go to a bank to get financing for your used car, just like you would for a brand-new one. In India, banks and several NBFCs offer this. Interest rates on loans for used cars range from 9% to 17%. Keep in mind that even a little change in the interest rate can have a significant impact on the total cost. Car loans for used cars offer advantages, including flexible payment schedules, terms of up to 7 years, and finance of up to 100% of the car’s value. Both salaried individuals and business professionals can apply for a used-car loan.
With these simple tips, your process will surely be smooth. Check out certified sites like Truebil for seamless buying and selling of your favourite used cars.
Alan Roodey is a professional Author and contributor to many sites. He loves to write on various topics.