Always try to buy a car which is at least three year old. In case you are thinking why three year old? Well, they’re new enough that they still look nice and probably don’t have a lot of problems.
Things to Check before buying A Used Car or a second hand car:
Buying a used car is like a chute - exciting and terrifying at the same time. Here are all the tricks and tips to help you jump right in for a certified used car.
The market for second hand cars in India especially Delhi-NCR is massive. The process of buying a new car is followed by an endless trail of paperwork, registrations, insurance and transfers and the struggle is real.
Things you should keep in mind before buying a used car:
Thoroughly inspect papers
If you are planning to get second hand car online or from used car dealers, you should inspect it fully with a mechanic you trust. This helps to either get the problems fixed by the owner before the purchase is done, or helps you negotiate the price. A few must DOs for this:
Check the insurance papers. You will be able to indicate if the car has had any accidents or claims related to those. A quick way to see this on the policy is to note the no claim bonus (NCB) percentage applied. The higher the NCB, the better.
Check if the engine number and chassis no. match the number in the registration papers.
Transfer RC to your name
For transferring the RC on your name, you should fill out and submit Form 29 & Form 30, issued by the RTO in the jurisdiction you live in. The form should be signed by both the previous owner and you.
After submission, the local RTO initiates the transfer. You will receive a receipt within 15-18 days and the name-changed RC copy by the 40th-45th day.
Get Insurance transferred
It is very essential to get a insurance policy copy in your name as it is to get the registration transferred. If the RC is registered in your name and the policy is still under the previous owner’s, then the insurance policy stands nullified!
Transfer of No Claim Bonus (NCB)
No Claim Bonus is given to the insured and not the insured vehicle. Hence, on transfer of the vehicle, the insurance policy can be transferred to the new owner but not the No Claim Bonus. The new owner has to pay the difference on account of the No Claim Bonus for the balance policy period. The original owner can, however, use the No Claim Bonus on a new vehicle purchased by him.