People decide to switch from a new car purchase to a used car purchase when he/she has restraints on budget. But, buying a used car involves a lot more responsibilities. You cannot simply walk up to a showroom and purchase the car of your dream at a fine condition. This won’t be true in case of a used car and that is the place where a buyer fails. So, here are some of the most common buying mistakes as well as the hacks or used car buying tips for the same:
- Not sure about your budget
If you do not know what you can afford, then you are going to commit the most common and most absurd mistake. Proceeding to purchase a new car or a used car without identifying your budget will be going towards vain. So, before even thinking of purchasing a used car, you must look towards the finance part. Is it possible to finance the car from your own pocket or you are going to apply for a loan? If the answer comes as a loan, then check your monthly income, credit history and credit score. Your repayment capability will assure up to how much you can afford to pay for a car purchase. If you do not fix this beforehand, you may end up loving or expecting a car which is out of your budget.
- Not sure about your demand
If you are not sure what do you want, you may end up purchasing a car which does not match your want, need or demand. Maybe you will not be sure which car, model or colour, you want or get as a used car and that too in good condition, but you must have the criteria clear in your mind. This will help to differentiate between what you like and what you hate. Your requirement will only be valued by you. You may have a fascination for sports cars, sedans or SUVs. You may want more leg space, cargo space, shoulder room, or open roof. You may have a small family or a large family. These factors will eventually help you a lot to choose the right form of car for you. You can even take the help of Droom Discovery tool, which assists to find the most suitable car for you as per your requirement. You will not have to do research on your own by going through each and every car or deal. In place of you, Discovery will discover the right car for you.
- Not knowing the history of the used car
If you proceed towards the buying decision without reviewing the history of the used car, then you will be one more blunder. It is really essential to be aware of the history of the used car. You are not purchasing a new car. There can be ownership transfer, accidents, or any mis-happening in the past, which should be highlighted. As a buyer of the car, you should know all these factors, otherwise, you will be in the dark for the rest of your life.
- Not inspecting the used car properly
Inspection of the car is very essential, especially when it is a used car. The real-time condition of the car can never be evaluated by seeing the car with the naked eye. The used car needs to be reviewed and inspected by a professional eye. You can take the support of a technician and conduct an honest inspection of the car you are planning to buy.
- Agreeing with the seller’s quote blindly
A seller of a used car will always want to get more money than its worth. But, it’s your responsibility to calculate and evaluate the accurate valuation of the car and then fix the used car price. If you deal with the seller directly, he/she will quote a price. You can either agree to the quotation or negotiate with him/her. But this is not the ideal way of fixing the price of the used cars. With the intervention of a professional website, a seller can calculate the exact valuation of the car and you as a buyer will only pay the accurate value of the car.
- Delaying on taking the decision
You may be puzzled which car to choose or whether you are enjoying a fair deal, and these confusions may delay your decision-making process. If you are thinking the deal is comparatively smart and lucrative, then maybe many more people are also looking for the same deal. You never know delaying for one day, can miss the entire opportunity. Someone else can grab the fair deal that you were supposed to own.
- Prioritizing your emotions
Do not let your emotions overlap your brains! You may be planning for a big car and ultimately take home a small car, or planning for a hatchback and buy a sedan, then it won’t be a good decision. There can be parking issues or preference of your family members. So, you must think of those factors too and fix your purchasing decision.
- Not considering loan as a financing option
Maybe you are not purchasing a new car, but that does not mean you will not get a car loan. Many have the myth that banks and NBFCs do not offer car loan for used cars. But this is not true! You will surely get car loan sanction, but the rate of interest of used car loan will be a little higher than the new car loan.
- Looking for a perfect car
In case you are looking for a perfect car, that does not have any issue, have an amazing look and gives the impression of a new car, then you are wrong. Somewhere down the line, you must know that you are purchasing a used car, so it cannot be 100% perfect. You may or may not have to compromise on certain factors.
- Not going on a test drive
This can be listed as one of the car buying problems if the seller does not allow you to go for a test drive. Do not commit this mistake! If the seller is not allowing you, do not purchase the car simply.
These are some of the useful second hand car buying tips. These are not only the mistakes that we generally do while purchasing a used car. Some points are even true for a new car also. So, this list can be considered as a car buying guide.