For most people in India buying a car is a dream come true. Owning a car is a major financial decision and involves a lot of savings. The concept of buying used cars took place in recent years when people started to realize that second-hand cars are as good as new ones. However, buying one involves a lot of research and a significant amount of risk. Below are some tips to keep in mind while purchasing a used car in India.
Tips for Buying a Used Car in India
- Inspect the Car Thoroughly
Once you have decided to buy a used car, it is important to check even the minor details before finalizing. If you do not know much about cars then get a mechanic you trust to inspect the car. Check the car’s interior, exterior, framing, tires, engine, and mileage. At last, test drive the car to see its performance, acceleration, and suspension.
- Check the Maintenance Records and Other Important Papers
Check the maintenance records if maintained if not then have a detailed conversation with the previous owner so that you will get an idea by when and to which extent the car needs servicing. Also, check insurance papers to understand if the car has had any accidents in the past. Check if the engine number and chassis number match with the numbers in the registration papers.
- Transfer the Registration Certificate (RC) to Your Name
For this, you will have to fill up and submit Form 30 issued by the RTO closest to your location. The form should be signed by both the previous owner of the car and you. Once submitted, the RTO will initiate the transfer. You will receive a receipt within 15-18 days and the changed RC copy within 40-45 days.
- Get the Car Insurance in Your Name
If the insurance is still under the previous owner’s name then the policy stands nullified. So it is very important to get insurance on your name after buying a used car. It can be done by transferring the ownership from the previous owner to you. If the previous owner doesn’t have insurance then it is mandatory to buy a new one in your name.
- Transfer of No Claim Bonus (NCB)
While transferring the insurance policy to your name, if the previous owner has an NCB discount on the policy, the NCB cannot be transferred to you. Only the previous owner can claim the NCB discount while purchasing an insurance policy for the new car. So it is better to take new insurance on your name if there is an NCB discount in the previous owner’s policy.
At CARS24, you can choose any car from 10000+ used car varieties. Every second-hand car with us has undergone a 140-point inspection. We provide customized financing options, free home delivery, a seven‑day return policy, and a six-month warranty on the cars.
