Looking To Buy a Used Car?


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350Z

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New Car Vs Used Car.JPG

Second hand car deals always excite me for the simple reason that one can get much more by paying a lot lesser, and after all who does not prefers paying less? It is not only me who believes in this theory, but there are a lot of people with same thinking and thus, no wonder why used car business is much popular than of new cars. However like I always say, Dealing in used car market is far trickier than buying new car, but if you hit the pot on spot, you may end up making an unregretful decision forever. If you wish to purchase your desired car under a packed budget and are ready to compromise with sense of “New” car, Scent of fresh upholstery, this is the right article for you. Read on.


What are the Benefits of Buying Used?
Like new, buying a used car has its own advantages as well as disadvantages. So, let’s firstly talk about advantages. First and foremost, a huge advantage for used car buyer over new is depreciation. Right at the moment when car is registered and steps out of the showroom, it immediately looses about 8% of its actual value. Now that you got an idea, Imagine how much a mid-sized luxury sedan which is 3-4 year old would cost? As an instance, Toyota Corolla retails at approx. Rs.10 to 11 Lakhs (On-Road), a person could easily acquire one which is about a couple of years old, considering in decent condition, at approx. Rs.5.8 Lakhs only, which is almost half of it’s actual market price during sale. Although, this is not the only criteria upon which re-sale value depends, other factors include Brand image, Condition of vehicle, Market response to vehicle, Maintenance Costs etc.

Apart from depreciation, what add to your favor are expenses such as Registration and Road Tax charges, which are supposed to be paid already and on top of that, you always have an option to haggle with seller to draw the price to a considerable margin, if he does not agrees, there’s a whole lot of such cars available in used car market. Plus, what you get is a pleasure of owning better and your much desired car.

*(Quick Tip: Mid-size sedans generally make better VFM used buy.)



What’s the Catch?
None actually, But what you always need to keep in mind is – Search, Search and Search. It could be time consuming task sometimes but the moment car is purchased, it all certainly pays off and satisfaction which you may get is bigger than anything. Remember; Never ever be inclined towards a specific car, that’s what always the major benefit of used car market – You have wide variety of same models available.

Nevertheless, a few other not-so-good factors of buying used includes absence of new car feel. A truth which can not be covered - it’s altogether always an exciting process of buying a new car when one from the tons of sparkling new model becomes yours ultimately. Also, there’s rarely any option of getting freebies while purchasing used car, and no warranty either. However, thanks to certified used car dealerships which help to make buying used car experience almost like of buying new by offering a year warranty, and other traditional new-car-like ceremonies such as formal key handover, ribbon tied on the hood etc. which makes the experience quite better.
 
Thread Starter #2

350Z

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Ok, I’m convinced to Buy Used Car, Now How do I begin?
As usual, Set a budget according to what you can afford (could be flexible by a few thousands bucks), it’s not required to stretch extremely to limits because there are all type of secondhand car ranges in all budgets available. Look deep into your requirements and pen down which cars you prefer most, but bear in mind that with big cars comes big maintenance bills, so it’ll be a foolish move if only a couple of people will travel in the car at most, and you opt for 7 Seven Seat Vehicle. In this case, hatchback or a sedan makes wise selection. Once this is done, let’s return back to good ol’ theory of researching, discuss and research on internet about reviews of cars you have short listed. Strictly avoid discontinued cars, or the ones which have had poor reputation in market.

From Where Should I Buy the Second Hand Car?
Personally I prefer buying car directly from the actual owner, because there are comparatively less chances of getting a tampered odometer, service record is readily available and other such reasons. Else, even reputed Certified Used Car Dealerships (Mahindra First Choice, Maruti Suzuki True Vale, Toyota You-Trust to name a few) also makes a worth considerable option, because they do not only perform fixes and important check-up of vehicle but also help buyer for transferring all necessary documents and get the financing done.

Finally, I've come across a Good Car, Now What Do I Need to Do?
If you have stumbled upon a car which apparently seems to be a good buy, Contact the seller and try getting all necessary information (Year, Mileage done, Availability of service record etc.) before stepping out to check it, and in case of so called Certified Dealerships, each of them has their own different policies about purchase and warranty they offer, you must read it thoroughly on their website.

If everything goes fine and you are about to finalize the deal, call a qualified and reliable mechanic to accompany you to inspect the car. Even if you are knowledgeable enough about inside and out of automobiles, two persons are always better than one and never be too much desperate to get a specific model, it’ll absolutely kill the chances of negotiation. To read exhaustive guide on inspecting a second hand car, Click here.

*(Quick Tip 1: It’s always better to inspect a car during morning or noon.)

*(Quick Tip 2: If you can manage an hour off from the work, I’d recommend visiting the dealership without informing them prior, sometimes this visually translates the things better, like how actually the car is being treated. I did same once at Mahindra First Choice and discovered a few hidden facts myself.)



Please List Some Indian Cars Which Make a “Steal Deal” in Used Market.
There are some models in India which are too good to ignore in used car market, and some have not been much popular due to various reasons but still proves to be a “Steal Deal”. A few of them are:

  • Fiat Palio 1.6
  • Honda City (OHC & ZX)
  • Mitsubishi Lancer / Cedia
  • Hyundai Elantra
  • Skoda Octavia
  • Toyota Corolla
  • Honda Civic
  • Hyundai Sonata
  • Honda Accord
  • Mahindra Scorpio

In-case you are looking out more for the “Image” factor, then do have a look at the first link below. Good Luck for your purchase!

Related Links:


(C) 2010, All rights reserved. The Automotive India. Article or Image(s) can not be reproduced in any form without the written permission of our authority.
 

Akash

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Excellent writeup 350Z. Getting a good deal of used cars is not an easy task. One must take care of all the things from papers to the service history. And most of the time people forget one thing or the other which sometimes lands them into trouble. I really appreciate your effort of compiling all the useful tips into a single thread.
 
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350Z

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You are right Akash. And one of the common things which most people generally miss to check is whether the car is still under loan. This thread is however more about benefits of buying used, and not everything which needs to be inspected while Buying used is covered. It can be found in this thread, will update that too.

Drive Safe,
350Z
 
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350Z said:
two persons are always better than one and never be too much desperate to get a specific model, it’ll absolutely kill the chances of negotiation. To view the check-list of second-hand car, Click Here.
Good write up 350Z the points seem just written for me .I had a situation like this we inspected a baleno here my friend told me it would cost 2 lakhs so I went to see the car it was in good condition and handling was soooo good and I admired the car in front of the dealer itself and you know what happened .the price just rocketed to 2.70 lakhs I got irritated and the deal broke in the middle. So to add to the point never show that you are exited about the car.


Fiat Palio 1.6
Honda City (OHC & ZX)
Mitsubishi Lancer / Cedia
Hyundai Elantra
Skoda Octavia
Toyota Corolla
Honda Civic
Hyundai Sonata
Honda Accord
Mahindra Scorpio

How did you add scorpio in the list brother it is the hottest seller here in our town [frustration]
 
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Akash

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^Exactly. One of my friend got stuck with such a deal a couple of years ago. He was offered a well maintained bike at a mouthwatering price. Now he went ahead with the deal after having a casual check of regn. papers and didnt notice that the loan of the finance company had not been settled yet. After riding happily for a weeks he got a call from finance company informing that the bike will be taken away if the dues are not cleared within a week. He had to finally settle the dues which made the overall cost of ownership quite high.
So, what i mean to say is that such things do happen with second hand car/bike deals which is why one must be well informed so as to avoid troubles in future.
 
Thread Starter #8

350Z

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Mahindra Scorpio

How did you add scorpio in the list brother it is the hottest seller here in our town [frustration]
Even City is a good seller. That list mentions few of the cars which can be a delightful deal in used car bazaar.

^Exactly. One of my friend got stuck with such a deal a couple of years ago. He was offered a well maintained bike at a mouthwatering price. Now he went ahead with the deal after having a casual check of regn. papers and didnt notice that the loan of the finance company had not been settled yet. After riding happily for a weeks he got a call from finance company informing that the bike will be taken away if the dues are not cleared within a week. He had to finally settle the dues which made the overall cost of ownership quite high. So, what i mean to say is that such things do happen with second hand car/bike deals which is why one must be well informed so as to avoid troubles in future.
That’s simply a terrible situation, did he purchased the bike through dealer or an individual? He could have gone the legal way?

Drive Safe,
350Z
 
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Nice article Vibhor. We should have more of these type of articles which are essentially a handbook or quick check list or what ever you call it. These information will come handy for sure.
 
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Hey good compilation and thread 350Z! Certainly useful for used car buyers. I also feel its better to buy a car directly from the buyer as its more reliable and you can also save a few bucks which is lost as commission! One should also check for any accident claims in the insurance papers , whether the insurance is expired any check whether the loans are over.

These points help in negotiation.
 

Akash

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That’s simply a terrible situation, did he purchased the bike through dealer or an individual? He could have gone the legal way?

Drive Safe,
350Z
Sorry but somehow missed your post. Yes, he bought the bike through a known person. And being a student he didnt take the legal route.
 
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Hi there: U seem to be have lots of experience in the used car niche.
I have stumbled upon a Mondeo, 2002, being offered for 1.85 L.
The price seems rather low. Should I suspect the owner is hiding something?
How to double-check for accidental history?
Please Guide Me.....:)
 
Thread Starter #15

350Z

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Hey Anubhav, Welcome to The Automotive India. Well, Ford Mondeo is really a good car and one of my personal favourites too, but the lack of Ford’s assistance and slightly high maintenance costs of this car is always a turn down. Since Modeo has been already discontinued quite a long back, the ones in second-hand car market are going away at dirt cheap prices starting from anywhere Rs.1.8 Lakhs to Rs.2.5 Lakhs (depending upon condition). So, if you are keen on getting one, then please thoroughly (in fact very thoroughly) check the car and find out the exact manufacturing details through VIN (Vehicle Identification Number). I am posting links to a few useful threads in our forum, which will definitely help you. There are many Mondeos for sale in Delhi so keep searching, otherwise, if you are looking for a more reliable luxury car in similar budget, I would recommend a decent condition Honda Accord.

- http://www.theautomotiveindia.com/f...cars-under-rs-10-lakhs-boost-your-status.html

- http://www.theautomotiveindia.com/f...pecting-second-hand-car-exhaustive-guide.html

- http://www.theautomotiveindia.com/f...-decoding-vehicle-information-number-vin.html

Drive Safe,
350Z
 
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