A Checklist for Prospective Pre-owned Car Owners

In the past, the practice of purchasing used cars or pre-owned cars was looked upon with distaste. It was fraught with dangers such as the kind of physical wear and tear the car has been subjected to, absence of warranty as well as certification seal from the manufacturer. Most importantly, the dearth of financial incentives made it a very unattractive prospect for people on the lookout for used cars.

But the current times say something else. Nowadays, you could easily get manufacturer approved pre-owned cars. Additionally, for people lacking in the finances department, many banks have come out with attractive car loans for pre-owned cars. HDFC is one such bank that offers 100% funding on pre-owned cars. In this regard, mention must be made of the usefulness of the car loan calculator, which you can easily use to come to a clear understanding of how much you need to pay on your auto loan. Such a tool is very handy for planning your purchase.

Before you go about placing your money on a used car and checking your EMI on a car loan calculator, these points have to be kept in mind in order to get the most from your car purchase.

1. Get all the car maintenance papers in place

It is imperative for prospective car owners to get all the necessary documents in place. One should have a complete service history of the car. Having said so, cars that have been serviced on a regular basis at an authorised service centre should be high up in your consideration list.

2. Clarity over important documents including proof of purchase

Buying used car calls for more attention from interested parties. Important documents like insurance, finance NOC, tax receipt from the RTO, car registration as well as original proof of purchase of the car should be readily available and in your hands.

3. Cross-checking of odometer with inspection records

You must not forget to compare the distance travelled by the car with the maintenance and evaluation history of the car. This point is highly important as many certified pre-owned cars also sport tampered odometers. Furthermore, you could also check it against stickers – that include the kilometre count – provided by a service station.

4. Exercise caution with painted cars

Even though a fresh coat of paint on a used car always evokes a positive feeling, one must be extra careful in this department. This is because repainted cars could mean one or more of these things: such as an accident or a rusting of the car parts. It is therefore important to take a mechanic along when you go for your car inspection. He is the best person to tell you about any kind of mechanical irregularities.
In order to bring back happy memories from your first pre-owned car purchase, it is important to keep such a checklist handy. Adequate amount of research work including a proper understanding of the loan amount you need to pay each month, can be easily achieved through a car loan calculator, something which must be carried out by every first-time buyer of used cars.