The moment you take out the brand new shiny car from the dealer’s showroom, its value depreciates to 80 per cent. Additionally, most cars lose up to 50 per cent of their initial value in the first three years. Therefore, buying a used car seems a better option when the budget is a constraint. However, unlike the new cars, some precautions must be taken before buying pre-owned cars.
So here are some points you need to check before you buy-
Inspect dealer before the car
Always prefer to buy from the dealer that deals with multiple brands and have a sizeable inventory to compare. Verify the dealer’s licence and enquire about the dealership in the market to validate its authenticity. Beware, if the dealer hesitates to share its details, better find trustable dealerships or ask for friends who have recently bought a used car.
Always test drive the car
If you planning to drive that car in coming days, why not take a test drive and experience how you feel holding that steering. Taking a test drive eliminates the risk of purchasing a faulty car. You must take a satisfactory drive around the city, highway and test for its performance.
Always get the car inspected
Doing a test drive will only give you a limited idea about the car. But a full pre-purchase inspection would perform all necessary checks to clear your doubts. Always go for an independent mechanic who doesn’t have any influence from the dealership. This practice could save from buying a defective car.
Review the vehicle history report
Check with vehicle history report for owner’s information and previous sale-purchase records. It’s only recommended to buy first-owner vehicles.
By the time the vehicle reaches its third owner, its condition has already deteriorated. Also, check if the vehicle had been involved in an accident previously.
Avoid ‘Too good to be true price’
Before getting started, get quotes from multiple dealerships and review them sceptically. The lowest price might not always be the best price. Get a hold of the market pricing and buy in between those prices. If the price seems too good to be true, simply avoid it. The dealer is trying to trick you for a car with some serious issues or it may be stolen one. The prudence you use now will save you in the longer run.
Check for Odometer Rollback
Odometer tampering is very common fraud while buying pre-owned vehicles. The odometer numbers are spoofed to lower miles and price is increased to deceit the buyer. To avoid odometer tempering, check for scratches near the dashboard or check maintenance records to match the numbers.
Notice dealer’s review
Be an informed buyer. Always check for dealer’s review before buying any pre-owned cars from him. The seller’s reputation is a key factor to consider so review the past customer’s testimonials. Many dealers offer after-sale service to boost customer satisfaction, so better ask for free maintenance checks.