What factors do you need to check while buying a used car?

Buying a used car is still looked upon as a taboo in India. But, slowly and steadily people are considering the fact that it is not a matter of shame. Buying a used car is much better than having no car. People are also skeptical about transacting used cars online. The trust factor plays a major role in the psychological and decision-making part of the customers.

But nowadays a shift can be noticed in the mentality of the people towards accepting the concept of used car transaction online. There are chances of getting cheated if you proceed with the used car buying without knowing the best way to do so or without considering the main factors that drive severe roles in it. So, its always better to do complete research while buying a used car, consider all the factors and check out the best possible ways to buy used cars. This will help you in taking better buying decison. 

The best ways to buy any used car is to scroll through the number of car options available in any authorized website, review all the details mentioned by the seller, get the car inspected by a professional technician, take a test drive and then choose the right one suitable for you.

If you skip any of these steps or try to take a shortcut, you are bound to face complications and may step into some trap. Buying a used car will be effective for you once you are aware of certain factors, such as:

• Used car price

• Real condition of the car

• History of the used car

• Most suitable car for you

• Loan availability to finance the used car purchase

• Demand for advance payments

• Mismatch of price and condition of the car

• Genuity of odometer figure

• Wrong car shown

• Inspection of the car

• Paperwork from seller side

• Produce a fake service history

• No test drive

• Demand for cash payment

• Genuine or fake owner

These are some of the basic yet vital info that you need to gather anyhow before you even think of going for a transaction.

However, all these pointers can be answered with 6 essential elements:

• Price

• Condition

• History

• Suitable type

• Loan availabilityFraud evaluation

1. Price - The main driving factor that works behind the purchase is the used car price. New cars are costly, so many remain deprived of the happiness of having a car. That is the reason second-hand cars have gained popularity. They are much cheaper and hence fulfill the dreams of many. The price of the car may differ as per owner’s quote, but you need to know the actual used car valuation, to get the right price of the car.
    
2. Condition - The condition of the used car is essential because a buyer must be aware of the real-time condition of the product, that he/she is purchasing or investing money in. If the car is worn out, then what’s the point of investing in it.
    
3. History – The vehicle history also plays a major role in the decision-making part. If the car is too old, had met accidents number of times, ownership been transferred too many times, no proper availability of documents, then it will be risky to go for that vehicle.
    
4. Suitable type – All cars are not for you. Some will not fit your budget bracket, and some will not fit with your requirement. If you have a large family, you must go for SUVs and crossovers, and if you have a small family, hatchback or sedan will be your suitable type.
    
5. Loan - Though the prices of the used cars are lower, many take the support of loans to purchase it. And it is great that banks and NBFCs have started focusing on this aspect and provide car loans even for used cars.
    
6. Fraud factor - Last but not the least, check the fraud factors. If people want to fool you while transaction of used cars, you will get some indications such as they won’t allow you for a test drive, will delay paperwork, want to transact in cash, etc.

Check and recheck each and every factor while going for a transaction of buying a car. It is not similar to buying a pen that you can withstand the loss. You are purchasing a car and that counts a lot.

Author Bio:

Sneha Sharma is a writer currently associated with Droom Technology. She writes about various topics such as auto news, trends in automobile industry, auto finance and so on. She has a prominent existence and well participation on different social media platforms.