Saturday 11 April 2015

Buying Used Cars from Indian Auto Market

Buying a used car is not easy in the versatile Indian Auto market.

There is a huge market of used cars in India. There are plenty of options available for each model, segment, and budget of automobiles. So buying a used car becomes a bit cumbersome in case you don’t acquire substantial knowledge about the field. Many a times, people looking for used cars keep their final decision on hold in hope that if they wait a bit more they might get a better deal. While some people sell their used cars just in time in order to get the best price before their cars value depreciate further.

Every year n number of new models are added to the automobiles available in India, and since it is a developing economy every car maker wants to introduce its models with to tap the hidden potential of market. This in turn has resulted into a steep growth of used car market. The used car market in India has shown unprecedented growth in last few years. With the availability of so many new options people have developed a tendency of changing their cars with changing times at a much frequent level. An average service class person changes its car in every 7-8 years. So whenever any new model is bought the old one is joins the used cars clan and thus the volume of used cars is increased. The old cars circulate in the market and are passed from one hand to other in terms of favorable deals.

But the market is so big and resourced that if you are not taking any expert advice all your money and efforts might go in vain. So there are a few points other than expert opinion that if kept in mind might help you strike a better deal and get or pay a justified price for the vehicle that you buy or sell.

Buying Used Cars

The first thing that even before you start we know you will do is deciding your budget. Once you have decided the part of pocket that you are going to levy on it try and sort out the best car that cherishes all your needs and desires in the closest way. Add some more research to it and you will know which make and model suits you the best. Reliability should be the first point to consider in terms of used cars. Then comes the source. Despite so many resources like net, ads, classifieds, it is in best interest of both buyers and sellers to interact directly. Reliability of not only the car but also the source form where you are getting your deal also counts equally. And lastly the finance source. There are many companies that offer loans for buying cars but the interest rates for buying new cars is lower than that for used cars. One of the best options in such case is availing a loan against fixed deposit.

Points to remember

The best way to judge that how good a car is for you is from the history of servicing and maintenance it holds. A car that has a well-documented history of servicing form a single service station deserves best scores. Some dealerships and manufacturers offer certified cars with warranty, but rather than relying on their words better go by your instinct and try and get as much information as you may get. Also, keep in mind that popular cars may not always be a good option in second hand market, sometimes lesser known cars offer you better quality along with enough margin for bargains. It is highly recommended that in case of used cars never rely on modified vehicles. Also, try to keep discontinued models at bay as they might be available at cheaper prices but there isn’t a regular supply of their spares, they have a high maintenance costs and have almost nil resale value. Also, repossessed cars, less used cars for more than a period of ten years, and repainted cars can be counted under the list of ‘must be avoided’ cars.

Car Assessment

There are number of points that must be kept in mind while checking the car. For e.g. if you are new to the world of second hand cars or cars than better take help of any known person who has some experience in dealing with such issues. Also, make sure you have all details of the car before you travel half world to see it. Make sure you examine the car in full daylight so that nothing remains hidden form your eyes. See if you may start the car from cold engine so that you may know the exact condition and potential of the car. Carefully scrutinize the original documentation of the car, its insurance, registration and all other legal details. Make proper verification for size of engine, date of manufacturing, test drive. And finally get it checked by a mechanic of your trust and take hit final word on it.

Final Stroke

Used cars valuation is a bit complex task. Make sure once you have finalized the deal the other party gives you its word in written. Also, as a buyer or seller you have complete freedom to refuse or step back from a deal, do not permit the counter party to pressurize you to do anything that is not in accordance to your will. Always remember that buyer is the king, none of the second hand cars have a fixed price, so you may negotiate and bargain the selling and buying price as per your wish. Apart from this, beware that there are number of fake sellers and buyers who might have just bought a car and want to sell it so beware not to fall for such frauds. Always make sure that on delivery you get duplicate keys of the car along with the original one. Post-delivery, it is recommended that you get the car serviced thoroughly that will ensure any kind of outstanding liabilities.


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