Things to Check Before Buying a Used Car in India

Published On Sep 23, 2021 11:00 AM By InsuranceDekho

Checking carefully before buying a used car in India is essential. Go through this article to note the things you should consider while purchasing two-wheeler insurance.

This is a fact. In India, for every three new four-wheelers sold, around four used cars are sold. As you might expect, the used automobile industry is booming, and in a big way. The advantages of buying a used car include, but are not limited to, financial savings. Because new four-wheelers lose value as soon as they leave the showroom, even a used car that is only a few months old may save you a lot of money. For others, opting for a used car opens up a wide range of alternatives to fit a limited budget.

Things to Check Before Buying a Used Car in India

You must check the following before putting your money in a used car - 

  • Get the Four-wheeler and its Paperwork Carefully Examined

In India, have the used car thoroughly inspected by a technician you can trust. This can either help you get the owner to address the faults before the purchase or help you negotiate the price.

  • Transfer the Used Car's Registration Certificate (RC) to Your Name

To do so, fill out and submit Forms 29 and 30 provided by the RTO in the jurisdiction of your residence (Find the RTO closest to your home here). Both the former owner and you should sign the paperwork. If the four-wheeler is registered in a jurisdiction other than yours, a NOC from the RTO of that jurisdiction will assist expedite the procedure. This is where the transaction is recorded. these formalities are crucial in India.

  • Get a Used Car Insurance Plan in Your Name

It's just as vital to have a copy of your valid insurance policy in your name as it is to transfer your registration. If the RC is registered in your name, the insurance coverage is cancelled, but the procedure is still in the previous owner's name! As a result, after purchasing a used car in India, it's critical to transfer your four-wheeler insurance to your name.

  • Transfer of No Claim Bonus (NCB)

While buying a used car, you must remember that the insured receives the NCB, not the insured four-wheeler. As a result, the insurance policy, but not the NCB, can be transferred to the new owner when the four-wheeler in India is sold. For the balance policy term, the new owner must pay the difference on account of the NCB. The NCB can be applied to a new Four-Wheeler promoted by the original owner.

  • Clean and Test Your Four-Wheeler Before the First Run

Both the inside and outside. (The prerogative of a new four-wheeler, whether new or old, is to appear sparkling if you wish to flaunt it!) Consider steam cleaning and disinfecting your new four-wheeler if feasible.

  • Duplicate Car Keys

Here in India, you receive two sets of keys when you buy a four-wheeler. If you're buying a used car, the second set of keys (the duplicate set) should be provided to you. However, it is possible that the vehicle's previous owner did not have the duplicate set. In such a scenario, feel free to haggle a little harder on the car's price.

Take Away

In recent years in India, well-known Four-Wheeler manufacturers have entered the used-car market, and India's organized used-car sector is expanding. As a result, you have various options. However, it would help if you use caution and vigilance when exploring such decisions. Continue reading to learn more about what you should know before buying a used automobile.

Also Read: 

Things To Check While Buying Car insurance

Why Buy Zero Depreciation Car Insurance Cover?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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