Best Way To Finance A Car From A Private Seller Checklist For Buying Pre-Owned Cars

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Checklist For Buying Pre-Owned Cars

Prospective buyers have an option of either buying a pre-owned car or buying a brand new car. Prospective buyer’s choice depends upon his or her budget, finance option and personal preferences. Buying a pre-owned car is slightly different from walking into a showroom and buying a brand new automobile. Buyers tend to miss few essential aspects while buying pre-owned cars. Here, is the checklist of few crucial parameters that the prospective buyers must keep in mind while buying an used car.

Budget: It is crucial to have an approximate budget in mind before searching for pre-owned cars. Auto experts recommend that buyers keep at least 20% buffer on the budget for negotiations. Setting a budget helps the buyers in short listing the automobiles that fall in their purchasing abilities.

Type of the car: One must also list down at least two to three different brands, models and make of cars. For example, if the client is planning to buy a pre-owned sedan in the budget of around 2-3 lakhs then he or she may opt for a Hyundai Accent or a Ford Fiesta. One must also take into account the year in which the car was manufactured.

Inspection: Buyers must take out time for inspecting the car after deciding on the type and the model of the car. One must look out for any scratches, dents or patch work on the exterior of the vehicle. It is best to take a local mechanic along for the inspection. One must also inspect the car for any signs of rust or corrosion. After inspecting the exteriors, one must also inspect the interiors of the automobile. Stained car seat covers or old music system can be a strong point for price negotiation. One should closely inspect the electrical fittings and instrument cluster. Do not forget to inspect the car engine.

Test drive: Once the inspection is completed satisfactorily, the buyer must insist on a test drive. One must spend at least thirty minutes for test-driving the vehicle. The vehicle should be driven on different landscapes in order to understand the performance and efficiency. Look out for any unusual noise or vibration during the test drive. Test drive also helps in checking the functioning of odometer and air conditioning system.

Document check: Every buyer must verify that the seller has legitimate documents for the car. One must ask for purchase agreement, loan agreement, car registration documents and insurance related documents before negotiating the price. Buy the vehicle only if the seller furnishes all the legitimate documents.

Last but not the least; do not forget to negotiate the pricing or the terms in order to get the best deal.

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