Tips to Buy Used Cars

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Nowadays, owning a car is a dream of many households. However, lack of funds and high maintenance costs can hamper this dream. In such a situation, opting for a used car can be a great solution to these problems.

Not only are used cars economical for buyers, but they also come with a few more benefits. For instance, the rate of insurance premiums on used cars is considerably lower than a new car. This is due to the decrease in the price value of used cars. In addition, used cars have a lower depreciation rate and can be extremely affordable for a family. Many trusted dealers conduct various quality checks on preowned cars before they are available for sale to buyers. Buying from such dealers can be a good option if you do not want to worry about the quality of the used car that you are buying.

Here are some tips for buying a used car.

1.    Choose the model and budget

Ask yourself: Why are you buying a car? The reason could be anything from the easier commute, road trips to even status symbol in the society. Defining your reason helps to choose the budget and model of the car easily. You should also conduct thorough research on various kinds of dealers along with their benefits and shortcomings. Compare the market prices of different models online and choose one that fits your budget and requirements.

Moreover, check the history of the brand and model that you are choosing. Check for any defaults in the manufacture or any issues faced by previous buyers.

2.    Manage your funds

After you set a budget, the next step would be to arrange funds for the budget. Funds can be arranged with the help of savings or personal loans or with a mixture of both. Nowadays, many banks and lending platforms offer personal loans for cars. For example, you can opt for Directlending.com to apply for hassle-free and affordable personal loans.

When you choose a loan, take the loan period, installments, down payment, and interest rate into account. Ensure that the installments do not end up putting a strain on your monthly income.

3.    Conduct quality checks

One of the main drawbacks of used cars is the possibility of wear and tear in the car. For this reason, a test drive is important to examine the performance of the car. Check for any issues in the brakes, engine, steering wheel, or lights in the car. Inspect the car for any bumps or dents, this will help you access the repair cost properly.

Always make it a point to ask for the service records of the preowned car from the owner or dealer. Additionally, you can also take the help of a certified mechanic to check the condition of the car. The condition of tires is another important factor as it can result in a huge expense that you might have to bear in the future.

4.    Check the documents

After a thorough quality check, ask for the original documents of the vehicle. Do not neglect the legal process of buying a used car as it can create problems in the future. Obtain the PUSPAKOM B5 and B7 reports from the owner. At the same time, the registration certificate and certificate of transfer of ownership are also important documents that are required at Jabatan Pengangkutan Jalan Malaysia.

5.    Choose a car insurance

It is impossible to own a car in Malaysia without purchasing car insurance. The compulsion of car insurance in Malaysia helps to protect the car owner against risks like accidents and theft. However, it is important to understand the various kinds of car insurance plans that are available on the market before choosing an insurance plan.

Third-party coverage is one of the most popular car insurance plans in Malaysia. This insurance scheme covers the loss to a third party by an injury or death. Third-party Fire and Theft coverage additionally safeguards against fire and theft along with the coverage falling under the third-party schemes. On the other hand, a comprehensive plan offers to protect the third party along with your own vehicle. You can decide on a suitable plan, after checking the conditions and premium rates of different plans.

Good research will help you make your car purchase hassle-free and convenient. Another tip would be to search for the market rates of used cars online. This will help you negotiate a good deal that fits your budget requirements.