destination for your dream car: used cars

Destination for Your Dream Car: Used Cars

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List of Contents

Chapters Content Page No.

1. Introduction 3

2. Things to Do before Buying a Pre-owned Car 4-7

3. Payment Methods 8-9

4. Buyers’ Guide 10-11

5. Used Car Buying Guide 12-13

6. Advantages of Buying Used Car 14

7. Reasons for choosing authorised used car dealers 15-16

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Chapter 1

Introduction:

The term “New Car” is alluring and it sounds really good. In today’s fast paced lifestyle, a car is not a want but a need. Everyone needs a car for their different requirements. So before buying a car, you have to be confirmed about what you want in your car. Doesa fuel efficient, small car meet your requirements? Or you need a big car that can facilitate your family holidays? Decision is yours and of course, depends on your pocket.

One smart choice to buy a car is to buy a used car or pre-owned car, as it will save your money and help you buying your dream car, but buying a used car is sometimes problematic, as the personal owner of the car can sell you the car with hidden damage. Hence, you can face great loss. Sometimes, the repairing costs become more than the car price. So if you want to buy a pre-owned car, you must do some homework. This will help you to save money in a smart way. Keeping in mind your driving habits, budget and for what purpose the car will be used, you need to choose the right car for you. Do a thorough research online on various models, prices, safety test, options and mileage.

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Things to do before buying a pre-owned car:

There are many options to buy a used car. You can buy it from personal owners, private parties or authorised used car dealers, but buying a used car from an authorised used car dealer is the most reliable and secured option, as they provide you all types of facilities you can get in a new car. Before buying a used car, one should follow the below steps.

1. Examine the car-By using an inspection checklist, you can examine the car. The checklist can be found in books, magazines and on various websites that deal with pre-owned cars.

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2. Ask for a test drive on various road conditions-

It is really tough to diagnose a car just by having a sight. So before finalising the car, one must ask for a test drive. The test drive should be taken both in local roads and in highways. This enables the driver to know about the performance of the car. One will be able to know how the car responds to the sharp turns, is by driving it on the local road. This will also help them to know about the condition of the brakes. While driving on the highways, the driver can notice whether the engine in running smoothly or there is an unusual engine noise.

3. Make a leak-test during test drive:

Drive the car to an open area and let the car run for at least one to two minutes. This will give the customer a visible result. They will get the leak test result by simply moving the car from the spot. If there is any leakage, there will be fluid on the road that has been leaked from the car. The colour of the fluid determines which part of the car has leakage. Fluid, green in colour, indicates a leak in anti-freeze, and the black one determines leaking oil. Pink fluid will be on the road, if there is any leakage in the transmission.

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4. Car maintenance record-

It does not matter from where you are buying the used car; always ask for the car maintenance record from the dealer, owner or repair shop.

5. Meet and talk with the previous owner:

If you are buying a car from a party who does not have a satisfactory car history, then talk to the previous owner.

6. Hire a mechanic for a thorough inspection:

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It is impossible to find out any internal flaws for the customers who are not familiar with it. So, if you consider buying a used car, take an efficient mechanic with you, so that he can check thoroughly and inform you if there are any mechanical flaws. This will help you to save money from being wasted.

Chapter 3

Payment methods:7


There are basically two options for payment: either pay in full at a time or finance over time. The total cost of the car can be increased if you select finance over time option, as the customers also have to pay the cost of credit that includes interests and other costs. In terms of financing, there are two main types of vehicle finance package- one is Lease sale agreements and Instalment sale agreements.

Lease Sale agreements-

This option enables you to lease a car from the financier with the option to purchase the car at the end of the agreement. In lease sale agreement you will be able to use the car without outright ownership. Sometimes lease payments are tax deductible. People who are more tax oriented or self-employed, are more suitable for this type of agreement.

Instalment sale agreements-

The car can be bought from a private seller or dealer with the help of this instalment. According to that agreement, you drive the car, but the bank owns it till you have not completed all the instalments. The interest can be fixed or of variable nature on the basis of an instalment sale agreement.

Different types of financing terms are offered by dealers and other finance sources (banks, credit unions and finance companies). So compare offers that are provided by different dealers, and choose and negotiate the best deal. If you want to buy a car on finance, you should understand the financing agreement before signing the documents. You need to understand the below mentioned points.

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Be sure about the exact price you are paying for the car. What is the amount that you are financing? Be sure about the finance charge you need to pay. What is the APR (APR refers a measure of cost credit, which is expressed as a yearly rate)? How many instalment you need to pay and what will be the amount in each instalment. Make sure if there is any hidden price. Be sure what the total sales price is byaddingthe monthly payments and down

payment.

Chapter 49


Buyers guide:

It can be said that purchasing a car is like bungee-jumping, as it is exciting as well as terrifying at the same time. Some of the steps are discussed here that will guide a buyer to buy a used car:

Inspect the car and its papers thoroughly-

Hire a reliable mechanic who can inspect your car thoroughly. They can also help you to negotiate the car price according to the condition of the car.

In order to get the assurance if the car has had any accidents or claims, check the insurance papers. Note the No Claim Bonus (NCB) percentage applied on the car. Always remember that higher NCB is better for you.

Match the engine number and chassis number with the number that has been there in the registration papers. All the filters should be checked thoroughly and it is better to change them. Regular cleaning and oiling is necessary for all

the filters, unless, the performance of the car gets affected significantly.

Make sure that the Registration Certificate has been transferred to your name-

In order to transfer the registration certificate to your name, you need to fill out and submit a form that is signed by the last owner and you.

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Do not forget to transfer the car insurance policy in your name or you can buy a car insurance policy.

Legal implications-

Minors who are below 18, are not allowed to buy car or take loan for the purchase of a car. Always remember, only an authorised dealer will offer you a car that is free of any hidden damage. As a buyer, you certainly have the right to get a car that is free from any hidden defects. While buying a used car, you have some responsibilities. They are-

You need to pay the deposits and remaining instalment before the said time.You need to take delivery of the car on the agreed date.Until the final instalment of the car is paid, you need to take extra care of the car.Insure your car for the duration of the contract period.

If you are not able to fulfil your responsibilities, the company has the right to take the below actions against you.

You can be sued for the arrears by the company. Your sale agreement can be cancelled. The car can be repossessed by them. They can claim damages from you.

Chapter 5

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Used car buying guide:

Before buying a used car, it is important to make an excellent choice in order to prevent headaches for years. Here are some tips that will help you to buy car smartly.

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Define your budget and note down your needs-

You need to be realistic before taking a decision of buying a car. Think what you can afford and according to that, make your budget. Note down your needs- do you want a car for your personal use? Or is it for trading purposes? These facts will help you to get the ideal car for you.

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Keep your options open before choosing a model-

Make a shortlist of your desired cars. Don’t make your mind on only one model- at least three options should be there in your preferred list.

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Your homework is required-

Once you consider buying a certain model of car, do a thorough homework on that particular model. Do a research about it in car magazines and online forums. Take reviews from friends about similar cars. Visit different websites to get an idea of the car prices.

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Visit well-known dealers-

Though there are different options to buy used cars- private parties, personal owners and authorised car dealers. It is always a better option to choose an authorised used car dealer, as they offer you several advantages. You can fix any flaws from an authorised used car dealer, if there is any future issue. You will be assured that the car has not been stolen, as you will be provided with an up-to-date service history of the car. It is not advisable to buy a car from a private party or friends, but if you do, make sure that the car was well maintained.

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Make a hard bargain-

Always remember everything is negotiable, so never accept the first price. While buying a car from a well-known dealer, you can negotiate to get them to include all on the road costs like registration cost etc.

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Play detective, be safe-

If you are buying a car from a private party, ask a lot of questions to them, know about their workplace, search them on Google, and see what you can find. Once your telephonic meeting is over and you are ready to meet them face to face, make sure that you are not alone, take someone with you. Never do the mistake of meeting them at your house, rather meet them at their work place.

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Chapter 6

Advantages of buying a used car:

Used car is simply the best way in which you can be an owner of your dream car. Buying a used car is really advantageous for those who want a car within their budget. Some of the many benefits of a used car are discussed below.

Budget friendly-

If the high price of your favourite luxury car always draws you back from buying it, then buying pre-owned car is the perfect option for you. Now you can fulfil your wish within your budget, as it is much more cost-effective than buying a new car.

Lower depreciation rate-

The value of a new car depreciates at a higher rate than a used car of the same model. In fact, the highest depreciation occurs in the first year of purchasing a new car. In terms of used car, you don’t have to face such a big depreciation.

Lower insurance rate-

The insurance price of a new car is much higher than a used car. Different types of taxes are applicable for a new car, but all these taxes are not applicable and insurance rates are less expensive in terms of used car.

Avoid paying extra fees-

In terms of new car, taxes and DMV fees are included, it does not matter if the car is in a proper condition or not. Processing fees, advertising fees and delivery fees have to be paid by the customer. Along with them, unnecessary extras (anti rustic coating, pin stripe, protective film etc.) are added in the new car that cost you a lump of money. On the other hand, people, who buy second hand cars, need not have to pay such nonsensical excess expenditure.

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Chapter 7

Reasons for choosing authorised used car dealers:

There is no denying the fact that buying used car is really risky, as it may cost you more than the actual price at the name of repairing cost. The solution of this problem is authorised used car dealers. Once you buy a used car from an authorised car dealer, you will be able to get several advantages from them. Some of the many benefits are discussed below:

A one-stop destination-

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An authorised used car dealer acts as a one-stop solution for the buyers. The customers are offered a test drive, and they can choose any car from the huge stock of used cars. In terms of private parties, to go for a test drive with a stranger is really awkward.

Get certified cars:

A well-known used car dealer always offers you a certified car. All the flaws are fixed by their expert technicians. Private parties do not offer such advantages.

Quality assurance-

For the sake of reputation, a reputed used car dealer always maintains the quality of the car. As the private parties do not have the concern to maintain their reputation, they never think about maintaining quality.

Enjoy hassle-free shopping-

It is really irritating to buy a car from private parties, as you have to arrange multiple meetings until the deal is finalised. It sometimes gets unpleasant for both the sellers and the buyers. On the contrary, the authorised used car dealers have showrooms with a large stock of used cars. So, a single visit is enough in this case. In fact, the customers can choose their preferred car from the convenience of their home through the websites of the authorised dealers.

Warranty-

Warranty is the biggest advantage one can get from the authorised used car dealers. A reputed used car dealer offers you at least one year warranty, and sometimes, they extend the warranty period. On the other hand, private parties never offer you such benefits.

Authenticity-

Certified used car dealers have trade license and various certificates, and these are proof of their authenticity. In terms of private parties, they do not have such license or certificate, even sometimes they are found fake.

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destination for your dream car: used cars

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