Things to Keep in Mind When Buying a Used Car

Things to Keep in Mind When Buying a Used Car

Entering the used car market could be a very profitable and satisfactory deal for you, provided you can pick a car that still performs quiet well and is still valued in the market. A lot of people end up with bitter experiences in the used car market precisely because they did not pick the right car and did not pay attention to the basic principles that need to be followed before buying a used car.

Buying used car at a car dealership

Know Your Budget

Before making any big purchase, you must have a clearly defined budget that you are willing to spend, which would be based on a realistic summation of your current financial state and your needs. Setting a budget at the very outset can help you stay away from buyer’s remorse and spontaneous decisions.

Research the Vehicle Model and Vehicle History

Ensure that you are informed about the pros and cons of the car model you intend to purchase. Do not go by the words of the car salesman alone. Go online and visit sites like Autovolo and see what are the current prices. These days, you can research vehicle models easily through the Internet.

Again, do not shy away from asking questions and researching the history of the car you want to purchase. Not to forget car insurance policy and the claim history as well so as to be prepared for the renewal. Car insurance calculator proves to be your pal while renewing your policy, as you can make your choice to switch to a new insurer or stick to the existing one.

Consider Additional Expenses That Could Be Incurred

When you earmark a price point for your vehicles, remember that you should also take account of additional expenses that might be incurred. You might have to pay extra to exchange old car parts, or for test-drives and inspections. The accumulated cost of all this is not negligible, which is why you need to carve out a small chunk of your used car budget for these.

If You Like a Car, Always Test Drive it before Buying

Always test-drive any car before putting money on the table. This would tell you a lot not only about the vehicle quality but also its suitability in terms of your needs.

Consider the Option of a Pre-Purchase Inspection

If you are worried about ending up with a faulty or ill-performing vehicle, do think about the option of a pre-purchase inspection. Through this, you can have the peace of mind that the car you are buying is still in good condition and you are getting your money’s worth with your new purchase.

Car dealer

Do Negotiate the Vehicle Price

Once you have chosen the vehicle and ensured that it stands the test of quality and performance, and you are ready to buy it, do not hesitate to negotiate the price of the vehicle. Whatever price is quoted is generally not expected to be the selling price by the dealers or sellers. So remember to sit down and negotiate and get a good deal for your money.

Always Remember to Validate the Ownership of the Vehicle

Buying a used car from a relatively unknown person instead of a dealership might offer you more in terms of value for money, but you can run into other risks. So to avoid any untoward incidents, always ascertain the ownership of the vehicle and ensure that you have paperwork to prove the trail of ownership. This is good buyer’s practice.

Don’t Forget to Insure your Car and to Use a Car Insurance Calculator

There are some very good car insurance offers out there for used car buyers. Never underestimate the value of insurance for your car. Always do your research on offers from different insurance providers. There are websites that offer car insurance calculator India, which can provide you with the ability to compare different policies. In fact, you can easily access car insurance calculator online India from your mobile or your laptop with the click of a few buttons. Some of the main benefits of car insurance calculator are as follows:

  • Through car insurance calculator, you can easily make a comparison of premium rates offered by different insurance companies and buy the policy most attractive to you.
  • It is clear from car insurance calculator that changing the insurance coverage offered by a policy would change the premium. So you are able to do a cost-benefit analysis of how much coverage you need versus how much premium you want to spend.
  • Car insurance calculator also allows you the ability to study information independently and not having to rely on agents etc. whose opinions might be biased.

Ensure All Your Paperwork is Executed and Organised Correctly

Last but most importantly, ensure that all your paperwork is done correctly. From your ownership papers to the papers pertaining to your car’s previous ownership, it is essential to have an organised folder where all papers related to your car purchase is documented and properly filed. Once you get your car insurance after checking car insurance calculator, you should also organise this within the same bundle. Developing habits such as this would stand you in good stead at crucial times.

Ivan Widjaya

Ivan Widjaya is the Owner/Editor of Noobpreneur.com, as well as several other blogs. He is a business blogger, web publisher and content marketer for SMEs.