Any person does not just want a good car, they want others to see that they have one. Well, that is where the idea of buying used prestige cars initiated. It may seem a really good idea of saving a lot of bucks but you may suffer a huge loss is you strike a bad deal due to a lack of proper inspection from your part. In such cases, it would be more like a loss than a profit.
As most of us know, the deterioration of the car value is inversely proportional to the exponential value of the number of years of usage, the value of the car goes down drastically in the first year of purchase. This is where you strike. You get a used prestige car along with an ongoing company warranty. One-year-old cars are considered to be the best buys in the market of used prestige cars. Even then, while getting a used car, there are many aspects to consider. So, before signing on that dotted line, ensure you have done your thorough research including all the points given below:
Do your research on the dealer
The first step to buying a used prestige car is finding the right dealer. A good dealer is a prime key to landing you good car deals. Ask around for references of good dealers and contact different dealers and ask about the administration and dealership fees. Ask whether the dealer will handle all the paperwork of the purchase. Ask the dealer to guide you in minute details about the process of buying a used prestige car.
Get the car papers inspected thoroughly
The car documents provided by the sellers could be fake. There are instances where a person gets tricked into buying a stolen car due to forged papers. Make sure the registration papers and the related documents you are provided are not phony. Get the purchase details and the registration certificate cross checked by experts of this field.
Transfer the registration certificate and insurance to your name
You need to make sure that the car ownership is transferred to your name post the purchase. Along with that, the transfer of the insurance and the no claim bonus, if any is also to be focused on. All these legal formalities are necessary. Do not take any of those lightly or you may land in trouble in future.
Get the car and its history inspected thoroughly
Ask for the vehicle identification number (VIN) from the sellers and if they fail to provide that, consider it a red flag. VIN can help you get the complete history of the car. A car history report can lead you to reveal all types of title problems, ownership history, service points and previous accidents if any, large or small. After that, get the car inspected by a trusted mechanic thoroughly. Check the insurance papers to check for any previous accident repair.
Also, check the engine number and the chassis number and match those with the registration papers. Get all the filters checked and changed if needed. The condition of the filters will clearly tell how well the car has been maintained. Lastly, check the hoods for any signs of damage, dents or rust. Make sure all the deformities and problems are corrected by the sellers or you can negotiate the price based on the flaws as well.
Go for a test drive
Lastly, take a test drive. Any used prestige car may have defects that are not visible to the naked eye but driving one can tell you a lot about its condition. Any experienced driver can pass accurate judgments about the car engine condition by just paying attention to the firing sound.
After you have checked off all these 5 points of your checklist and the results have been satisfactory, you can proceed to buy the car and complete the rest of the formalities. With this, you become a proud owner of a prestige car.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
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