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27th February 2021

Superadmin

Hidden Costs On Buying A Second-Hand Car: Know All About It

The second-hand car market is indeed touching heights in the automobile sector, and now you can find great deals for second-hand luxury cars out there and from verified sellers. Buying a second-hand car is a tricky business if you are not well aware of the market and traps you may fall into. People prefer to purchase second-hand cars because they cost less, but if you look at the bigger picture, sometimes they end up costing more than you planned. Why is that? There are numerous market tactics out there, and sellers levy various hidden fees when buying a used car at times. You can save yourself a lot of money and hassle in the future if you have the proper knowledge about these nasty costs. So if you want your purchase to be light on your pocket and not make your pocket light literally by draining out your hard-earned money, then this is for you. Here are some used car hidden fees you should know to save those bucks.

  • DEALERSHIP FEES

This one is the most common additional cost when buying a used car. You may face some unnecessary fees when buying a used car from a dealership. They can charge documentation fees, delivery charges, advertising fees, preparation fees, and the list is never-ending for starters. The idea here is that most of them are negotiable, and you should talk about these charges beforehand so that you don't incur any problems while finalising the deal or get bummed after seeing the final bill.

  • STEAL DEALS

They sound tempting, but it is your money that is getting stolen in them in the end. There are chances that if you found an excellent on-price deal for a car, then there is something fishy. The best value luxury car is not necessarily the one that has the lowest price but is value for money and 100% transparent dealing. That is why it is always suggested to purchase from reputed verified sellers. Hidden costs of buying a car come along with steal deals in disguise. At last, save yourself from some trouble, don't fall for traps, and keep a lookout.

  • MAINTENANCE

This one can hit you twice, one at the time of purchase and then one that follows after making a wrong purchase. The one at the time of the purchase generally dresses up as preparation charges. Sellers promise to change oils and do some maintenance before delivering the car to you, but as a customer, when you buy a wagon, you should receive it in the best condition without burning a hole in your pocket. So use some negotiation skills and ask for the basic things they should provide you.

The other happens if you buy a car with numerous mechanical problems, which generally occurs when your ride is involved in multiple ownership or is an accidental vehicle. If you buy a pre-owned premium car, you should be well aware of their maintenance charges. You can also avail of low maintenance cost luxury cars from sellers that deal in premium cars to save yourself from sky shooting high maintenance cost of luxury cars in India.  

To sum it up, these are some upfront costs of buying a car which you cannot ignore but delay or save yourself from few by making a wise purchase.

  • FINANCING AND INSURANCES

These are the costs you cannot get rid of but, if you know, then you can save a huge chunk on them. Avoid following the blind advice of your dealer when it comes to them. They generally have tie-ups that are mostly for their benefits and not yours. It is always a better option to research things and to have a clear picture of finances to cut down on some additional costs when buying a used car. For that perfect insurance plan, compare and obtain a suitable plan for your budget and particular requirements. For finance, your car and the terms of the loan will define your interest rate. To save on car financing charges, save up for a large down payment and shop around for the best rate. 

  • TAXES AND DOCUMENTATIONS

It is well understood and non-negotiable, but you need to prepare yourself for it. Taxes can be overwhelming, so make sure you check the right rate in your area before making the purchase and prepare your finances accordingly. About the documentations, well, there is no escape from them, but try to stay away from the nasty brokers. To make the ride yours, you need to register yourself and the cost to register a car and obtain a title varies by state. Make sure you are well aware of rates and these upfront costs of buying a car before proceeding so that you don't fall into pitfalls.

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