Selling a used car checklist
Here is an important second-hand car buying checklist.
Considering modern cars are made to last for a long time, buying a used car can be a very smart decision. However, it can be a rather intimidating experience for both, buyers as well as sellers. This is where the following checklist can simplify matters, reduce risk, and convert the transaction into a hassle-free affair.
Before it comes to the process of buying a second-hand car, the challenge is selecting the car you need to buy. When you are buying a second-hand car, it is possible to get swayed very easily. You might convince yourself to spend that extra Rs 1 lakh and pick up a Camry, but the cost of running and maintaining a Camry is far higher than that of Honda City.
Despite being a used car, the vehicle you are considering should be in good running condition and must be a good value for money. Take the vehicle for a test drive and get all major systems such as the engine, cooling, transmission, wheels, etc. These checks will help you ascertain whether the car is as well-maintained as the seller claims.
Further, you can plan for unavoidable repairs and maintenance and include the same in your budget.
Tip: Ensure that you carry out a thorough check when you go to take the delivery of your vehicle as well. This is important because a dealer might replace some of the components from your seeing of the vehicle to the delivery of the vehicle. For example, he might replace new tyres with old tyres.
- More than 60% of all used cars imported from the U.S. to Europe have a negative history!
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Is the seller the real owner of the car? Is this the first or the second time it is being resold? The Owner Serial Number in the RC book or smart card indicates the number of times the car has been sold till date.
Buying and selling a vehicle
Has the owner paid all dues, including road tax? Ensure the seller provides you with other papers that need to be verified, including the original invoice, NOC from the car loan provider, and road tax receipt. Further, the seller must submit Form 28, which is the NOC for transfer of the car.
Not doing so may lead to your insurance claim being rejected in case of any accident or mishap. Only claims related to third parties will be approved under the deemed insurance policy transfer of the law. Related: How motor insurance policy add-on covers work. Can you convert the car into a dual-fuel automobile? Can you opt for upgrades for greater comfort, safety, and value? Older vehicles may come cheap but may be impossible to upgrade. A relatively new model is preferable, especially if it comes at an affordable price.
If you have paid the premium for one year and are selling the car after six months, then you certainly can ask the buyer to pay his share of the premium. The NCB cannot be transferred even if you are transferring the policy. You can retain it and enjoy its benefit when buying a new car insurance policy. If you are selling your old car and buying a used car, then you must submit these additional documents:. Make sure the insurance company is kept informed about the sale.
The last thing you want is for your policy to pay for accidents or repairs after the car has been sold. Related: Just bought a new car? Here's what you need to do next!
Have a written contract detailing the condition of the car, the sale price, and the effective date of transfer of ownership to the buyer, along with registration and insurance details. Make sure all formalities are completed at the earliest once the sale has been concluded. This can prove very helpful in case of future disputes. Having detailed records of repairs and maintenance performed on the car can help you negotiate a better price. Not only will you come across as a very responsible owner, but the records will also prove that your car was indeed maintained properly at all times.
Related: Are you fit to drive on Indian roads? Do your homework well, make use of online and offline resources and service providers, and rely on plain common sense to strike the right deal when buying or selling a used car. Lastly, carry this buying second-hand car checklist. Chinook MacLeod Trail Barlow Trail McKnight Fill out our quick second application below to speak with one of our sales consultants today about new financing, refinancing options or trade-Ins. Someone will be in touch with you shortly! Yes, text me.
10 Steps to Selling Your Car | Edmunds
I agree to opt in to be contacted by House of Cars Inc. I can opt out of these e-communications at any time. Share this Post:. Before you start shopping, you need to arm yourself with information about buying a used car. Check the Interior and Exterior Checking the interior and exterior of your car should be the first item on your used car checklist.
Take a Test Drive Taking a car on a test drive should be the second item on your used car checklist. Read Reviews On your used car checklist, there should be three types of reviews you want to read: reviews on the car, reviews on the dealership, and a review of the vehicle history report. Find a Fair Purchase Price Ensuring you are being charged a fair price can be a bit tricky. This will help ensure you get the vehicle you deserve for the price you deserve. Posted in Tips , Used Car.
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- ARTICLE: How to sell a *USED* car in India - Team-BHP.
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