Things to Consider When Buying a Used Car
In modern times, cars are built to last a lifetime. However, due to boredom or changing preferences, we oftentimes sell them off even when they are in sparkling condition. If you too are looking to buy a used car, let us assure you that it can be a very smart decision. Just focus on these few things, and you could land up an excellent deal.
Inspect the car properly
Get a trustworthy car mechanic to thoroughly inspect the car’s condition. Any acceptable faults found can either get you a better price for the car or help you get the faults fixed by the previous owner before the transfer. Along with the exterior, get into minute details like the filters, tyres, breaks and area under the hood to look for signs of any damage or rust.
Inspect the car papers thoroughly
All car documents and associated papers need to be examined properly. Along with the registration papers, also go through the car insurance papers to check if the car has had any accident claims related to it. More insurance claims mean more the number of repairs the car has undergone. Insurance papers will also indicate to you the car’s insured value. It can be helpful to you during price negotiations.
Registration Certificate transfer
You and the car’s previous owner should sign Form 29 & 30 that is issued by the RTO. The RTO initiates the name transfer once these forms have been submitted. The RC copy with the changed name might take over 40 days to arrive, in the interim period; copies of these forms can work as transaction proof.
Transfer of insurance policy and no claim bonus
If the name in the RC and insurance policy is different, the insurance policy is considered nullified. Contact a broker or insurance agent to get the insurance policy transferred in your name. In case the previous owner didn’t have a policy, apply for one immediately. You can even explore the option of buying a new policy in your name from the company of your choice.
Prepare your car for the first drive
Before you take your latest possession for a drive, get it deep cleaned and sanitized. To get the best performance out of a used car, change all the fluids and oils. Any wear and tear or rust should be quickly fixed, and so should the spark plugs and lights.
All done and dusted? Get set to enjoy your first ride in this sparkling new beauty!