There are ample things that you need to check before buying a used car and you know how confusing it can be. Apart from giving a physical check from the mechanic you trust which includes checking the car’s dents, scratches, rust, check-up of the hood, engine inspection to avoid any leaks and corrosion, there are other aspects that you should consider before finalizing it. These might include:
• Checking the car's papers thoroughly
Check the existing insurance papers so that you will be able to know about the claims that have already been taken and about the no claim bonus. The chassis number and engine number should match what is there in the registration papers.
• RC of the used car should be transferred to your name without procrastination
Some people buy a used car but they delay the process of transferring it in their name which may lead to a blunder for them in future. Form 29 and 30 need to be submitted in RTO office and it shall be transferred in your name within 18 days.
• Get the insurance in your name
It is very important that while getting the RC transferred, you also ensure the insurance to be registered under your name. The insurance policy will remain nullified if you will just transfer the RC and not the insurance. So it is equally important.
• Transfer of No claim bonus
The difference on account of the no claim bonus for the balance policy period need to be paid by the new owner, only then no claim bonus will be transferred.
When we talk about the benefits to buying a used car, there are many whether one is aware of them or not.
Apart from your beautiful abode, your car is the only pricey purchase that you make. People who like to manage their finances should consider buying a used car as merely a sticker price is not everything. You can grab a good deal on old cars too and here are the reasons why!
• Helps you save a lot of money
There is no second thought that it saves your money as if you will compare the used car's price with the new one (of the same model), you will find much difference in price.
• Depreciation has already occurred
When you buy a new car, as soon as you drive it off from the showroom, a bulk of depreciation will be levied on the car but if you buy a used car a lot of depreciation would already have occurred.
• Low customization cost
You don't need to pay for the dealership add-ons which you have to pay when you are going to buy a new car. On used cars, you will also save on destination fees, shipping charges, and dealer preparation.
• Certified and meticulously inspected
Certified Pre-owned vehicles provide an assurance that you will be getting a superior quality with the extended warranty.
New cars sound great but think twice before buying one as it is a long term investment.
Are you looking to buy one? Check out the latest Pre-owned cars here.