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According to recent surveys, the market forpre-owned luxury cars in India is growing at a rapid speed. Usually, every person in this world has that one car they wish to purchase, but sometimes financial conditions don’t support expenditure on that level. This is where buying a used luxury car comes into play. But buying a second-hand luxury car can indeed be a somewhat intimidating experience for the buyer; hence, we bring you the perfect guide to buying second handcar!
When it comes tobuying a used premium car, the first step is to research and select the car you want to buy. To get this step right, the most important thing to take care of is not giving in to temptations and getting your priorities straight. Next, find the car according to your needs within your price range. Here, you also have to think about the future and choose according to the car’s maintenance.
Once you find that perfect car, you should follow the second hand car tips or second hand car buying tips. Look out for the following things:
The first thing you should check for while buying that perfect car is to check the car’s condition. Even though you are purchasing a second-hand car, the vehicle you are considering buying should be in good and running condition. It should be worth the value of your hard-earned money that you are planning to spend on it. Next, you must take the car for a test drive to check all the major systems like the engine, wheels, etc. If you are not knowledgeable enough to comment on the car’s condition, you should get it checked by a trusted mechanic.
It would be wise to follow the steps on receiving the car from the seller since the seller may change parts of the car on delivery.
After you are satisfied with the condition of the car, then move on to the next step and check all the relevant documents of the car. This step is crucial to check the authenticity of the car that you are about to buy. To avoid being caught up in fraud, you should always check all the papers carefully and if you feel satisfied, move ahead with the purchase. You should check for the following documents:
Proof of delivery of a car to your possession
Issue a new RC book in your name.
The cancellation of a policy request from the seller and your application for transfer of policy.
Check form 32 & 35 to ensure that there are no pre-existing pending loans on the car.
If the previous owner on finance bought the car, then make sure to get the original invoice of the car and the No Objection Certificate (NOC) from the car finance company.
Pollution Under Control (PUC) certificate.
In case the car is CNG/LPG fitted, then the Bi-fuel certificate.
Service book to check the history of service records Road tax receipts with the last updated payment.
The Insurance Papers
Thecar’s insurance papersspeak dozens about the car and help in further price negotiations as well. Frequent insurance claims imply frequent accidents that allow us to deduct that the car was involved in various accidents, making the car vulnerable to regular repair work and quite possible quality depreciation. This is something that someone buying a car would like to be aware of.
It is very important to transfer the car’s insurance policy to your name, or you can also buy a new policy within 14 days of the date of transfer of the car. Therefore, this step is crucial to avoid the rejection of insurance claims in case of an accident.
The possession of the Registration Certificate is a very important step again. You should fill out and submit Form 29 and Form 30 to the RTO available in your jurisdiction to get the RC.
This form needs to be signed by both the seller and the buyer. If the car was registered in a different jurisdiction before, a Non-Objection Certificate (NOC) from that jurisdiction’s RTO is necessary to speed up the process. Your local RTO initiates the transfer after your submission, and then within 15-18 days, you will receive the receipt regarding the same. On the 40-45th day, you receive a copy of the RC.
The No Claim Bonus applies to the person seeking insurance but not the insured vehicle; hence, unlike insurance police, the NCB cannot be transferred to the buyer.
Now that you have everything under your control before taking your car back home make sure to get it cleaned thoroughly, both interior and exterior, for safety purposes. Get the filters changed, seats cleaned, liquids changed, and get anything that needs repair fixed as soon as possible.
If you are looking to buy a second-hand car, let's say a second-hand luxury car in Delhi, you can find potential buyers at Auto Best Emperio (ABE) for trusted quality cars. You can also sell your luxury carswith Auto Best (ABE). Moreover, Delhi's Auto Best Emporio (ABE) is a great place to purchase a used car.
Read More:
1. Second-Hand Car Valuation: Tips & Tricks
2. How To Get The Best Deals On Used Luxury Cars
3. Tips To Keep In Mind While Buying A Used Luxury Car
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