Art of Buying an Used Car in India

One should be really courageous to get succeed in buying a Second hand vehicle / User Car, as almost the whole society is gonna stand against your decision. But, Does It ever mean the decision is Unfair.? Certainly Not.

The Myths about buying an secondhand Car:

When i first disclosed my decision of going for a Used Car, my colleagues gave me a strange look. For them, only the Poor should go with such an option. But I did not think so. Of-course, a New car smells great, but that should not be the sole reason to get a car loan and locked up repaying EMIs for 10 more years to come. Considering the recent trends like Chennai floods, God only knows if the car will even last the loan tenure.

How difficult it is to buy an used car in india

Buying an old car is a shame – My dad was  freaking out, intensely. So what, He did the same  when I got 98% in SSLC Maths. So, Never mind of him.

My Mom referred some neighbor Uncle X &  Aunt Y and How such a decision back fired them in  the form of repeated repair and high maintenance cost. I still remember the day, Mr.X was  complaining my Mom that the Dosa made by his wife was tasting strange, We tasted and found  that she had misplaced white Rangoli Mix for Dosa Mix. Funny people. So, Never mind of ’em either.

I came across a few more cases and most of them were negative. But one thing was very clear out of my research – Determination and Patience are all it needs. Kept the odds aside and Decided to move ahead.

Buying an Old Car ? Make Sure You Get These Docs Duly Signed.

No Pain No Gain

I started digging internet vigorously for different thoughts and opinions. Spent almost half a month and The major pros and cons were,

Pros : High end models at affordable price and No loan and EMI overheads

Cons : Efforts to find out a Right Car and Risk of losing money if end up getting a poor car.

It looked evident, If one have enough patience, determination and some basic internet searching skills, Used cars could turn out to be a huge plus.

Please Keep reading only if you are determined to search, have patience and time to wait, Otherwise, Certified Used cars from leading brands should be a hassle free choice.

Proven Techniques of Buying an Used Car in India

I wasted no time and dove deep into the Used Car market. The key elements of my execution were.

  • Deal only with the Owners. They are to an extent credible. Whereas Agents and Dealers are good in marketing, so high risk of an unfair deal.
  • Skip people claim unrealistic Quotes. Never waste time with a person who claim, 2 years old Honda City with 20ooo km odd mileage for 2.5 Lake. Probably, an damaged vehicle or fake ownership .. etc
  • Skip Ads without photos. If the seller is really interested, would definitely have time to post some photos.
  • Shortlist minimum of 2 to 3 potential deals per month. Pay a visit and Negotiate. This is a crucial step where you experience loads of stuffs in real time, don’t miss it.

Negotiate with the owner before buying the second hand car

  • Have a friendly chat with the owners to infer,
      • Who owns the vehicle
      • Previous Ownership
      • Is there any pending Loan
      • Is the Insurance till date
      • Service history (owner can get the complete service history from service center)
      • Actual user (To assess the Handling of Car)
      • Any violations or fines on the Car .. etc
      • Approval for a Health Check (If accepted, Vehicle condition could be above par)
      • Reason for selling
  • Once you are completely satisfied with the Car (Make, Model, Interior, Exterior ..etc) and the Owner (Credible, Genuine ..etc), Assure that you will contact soon and Leave. Note, no payment of advance at the First Meet.
  • Get an experienced Mechanic for Inspection and Plan a second visit. Paying a good mechanic is the greatest investment in Used Car Buying. If the mechanic is positive about the Car and the Price, Negotiate further and Pay advance at once. Note, Used car in good condition at a Fair price is rare.
  • Plan a final visit and Ensure the following documents are duly signed by the Owner before final Settlement. Note, Without these documents one can not transfer the ownership of the vehicle.
    • Form – 29 : Notice of Transfer of Ownership of a motor vehicle
    • Form – 30 : Application for Intimation and Transfer of Ownership of a motor vehicle
    • Insurance Transfer Form
    • RC in original
    • Sale Receipt

List Of Legal Requisites For Used Car Buying and Selling

No more waiting. As a proud owner of your dream Car, Fasten Seat Belt… Start Driving ..!!

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My Success Story in buying an old car:

P.S : Myself a proud owner of Hyundai Verna, a used car that I bought almost 2.5 years back (Top end variant, Petrol, Single owner, 3.5 yrs old, 40K on odometer, Lady driven, Complete service history, accepted for health check, delivered With full tank of fuel @ 3.15 Lake. Photo attached below). It was a great deal indeed. Also Everything i drafted above are the collection of my own and a few of my Pal’s proven experiences.

Photo of my car Verna - My second hand successful car deal

Good Luck and Keep in touch.!

 


Another Engaging Post is right here – “Weak Hearts Stay Away” Series :

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