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The purchase of a car is one of the biggest milestones in your life. A new survey has confirmed that a large percentage of people prefer buying a second-hand car due to its affordability. Also, with the social distancing guidelines mandated by the pandemic, people are preferring private modes of transport. As everyone cannot afford a new car, second-hand cars are becoming the preferred purchase.
No matter which car you purchase, it is crucial to get a four wheeler insurance policy to protect your car. We live in a time when almost every purchase can be made online, which means you can buy car insurance online without any hassles. Apart from the easy purchase, you can also use the premium calculator online for getting a good picture of your car insurance premium. These are some ways to get an efficient car insurance purchase. But can you follow certain steps for an efficient second-hand car purchase?
These are certain factors that you should keep in mind when buying a second-hand car:
- Budget:
Used cars come in different price ranges. The primary deciding factor that helps you narrow down the choices for a second-hand car will be your budget. When you have a clear picture of how much you are willing to spend on the car, you can start by making a list of car options that fit your budget.
- Tons of research:
It is not a good strategy to completely depend on a dealership and the options they provide. They may be trying to fulfil the dealership’s requirements. Hence, when you do a good amount of research, you will understand the different second-hand cars available for you. Once you have narrowed down on the model and requirements, you can avoid confusions and visit dealerships with specific requirements.
- Reliable seller:
If you have decided to purchase a second-hand car, you can consider buying the car from a reliable seller. While finding and buying from a reliable manufacturer can be a bit time-consuming, but you will not have to worry about the car malfunctioning because of a pre-existing issue.
- Review check:
No matter which second-hand model you select, it will be better for you to check its cost online and see if it fits in your budget. Apart from the price, you should also check the reviews on the car available online. Online reviews can help you understand how other individuals have found the car. Reading these reviews can confirm what you wanted from the car or prevent you from making a colossal mistake.
- Inspection:
If you do not want to spend too much on maintaining the car after purchasing it, you must get it inspected at the time of purchase. It will be beneficial for you if you get it tested by a trustworthy mechanic.
- Consider certified pre-owned:
To enjoy an assured level of quality from your vehicle, you must go for a certified pre-owned vehicle.
- Ownership of the car:
An important thing to check is to verify if the seller of the car is the previous owner. You can check the details on the registration certificate. The ownership history of the car can also give you a good understanding of the car.
- Test drive:
Do not ever purchase a car without conducting a road test. It is an absolute necessity when buying a used car since you will get a clear picture of the car’s condition. Apart from that, you will also understand if the car fits your daily routine.
- Car insurance:
You must also look into the insurance details of the car. If the previous owner possesses valid insurance, you will need to get the insurance transferred to your name two weeks after the purchase. If the insurance isn’t valid, then you will have to purchase car insurance for the used car.
Most people skip this step thinking old cars need not be insured. However, in India, every car plying the roads needs to have at least a third-party insurance cover as per the Indian Motor Vehicles Act. Despite this minimum requirement, ensure that you buy an all-round comprehensive car insurance plan. A comprehensive car insurance policy will cover financial liabilities arising from damage to the car, theft of the car, injuries/death of the owner-driver and third-party liabilities.
- Claim history:
When buying a used car, you should check the claim history of the car. To get the claim history, you will need to provide the policy number to the insurance company.
Summing Up
A second-hand car purchase can help you get a decent car at an affordable price. Many individuals may be a bit worried about the car’s performance since it’s a massive purchase. However, if you follow the steps provided above, you can be assured that you will get your money’s worth with the purchase.
