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Your car is a reflection of who you are. When you are buying a pre-owned car, there are a million questions to deal with. Are you getting a great deal? Will your car be in good condition for the next few years? How will it fare on mileage? What can you do to ensure that your car is in the best condition? You can avoid some of the anxiety if you buy a used car from a certified reseller. The good news is that there will be a degree of transparency and accountability. Plus, you will get your car at the best competitive market price.
But before you decide to buy your dream car, apply for a used-car loan (UCL). It is quite attractive for various reasons. It offers flexible EMI options ranging from one year to five years. The loan amount starts from Rs. 1 lakh. The interest rates on your loan are also competitive. Factor in how much loan you need and the rate of interest you can afford. Base your decision on your monthly savings, expenditures, and financial goals.
Consider the following points before investing in a used car from a certified reseller. Here are some more pros:
- Your certified pre-owned car will come with certain benefits. Among other things, you get warranty coverage for a certain period. This means you can avail certain repairs within that period.
- Do not lose sleep over maintenance. Your certified dealer will have checked everything. All repairs will have been made before your car is handed over to you. In other words, the car will have undergone stringent inspection. This is to ensure that a quality product reaches the customer. If there is a glitch, the seller will address it immediately.
- You do not have to fear that you have been promised something you will never get. There are no false claims and features.
- Cars that have clocked an average of 50,000 to 80,000 km and are at least five years old are eligible for inspection. Of course, this may vary from one dealer to another. So, you may want to check this point.
- Most certified pre-owned car sellers make it a point to have the history of these cars in their data bank. This includes information about prior ownership and accidents. The car’s current mileage, its wear and tear, and other details are important as well.
Cons to consider before you go in for a used car from a certified reseller:
- Pre-owned cars with certification cost more. This is because the reseller or the dealer has to spend a certain amount on inspection and repairs.
- If you do not buy your car from a local reseller and your vehicle has a problem after the purchase, you could face a lot of hassles and expenses.
A last word.
When you buy a pre-owned car from a certified reseller, be sure to make an informed choice. This will save you from any nasty surprises later.
Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.