Used Car Loan

Used car or new car? While buying a car this question comes in mind of many people.

This is totally dependent on your mentality. And of course, there is a price differential. So, it is better that you identify your needs first and then take a call on the one that suits your purposes.

For instance, if you are someone who is looking for a regular upgrade in say, every two-three years, then a second-hand car makes sense. Moreover, if this is your first car and you are trying to learn driving on it, a second-hand car definitely makes much more sense. On the other hand, if you are someone who is happy using the same vehicle for a number of years, then a new car is definitely recommended.

While purchasing a used car, inspect the following things carefully
- Instrument Panel - warning lights, indicator lights, speedometer, wiper lever, turn signal, fuel gauge, etc.
- Car Interior - Seats, doors, rear seats, adjust the front seats. Check the interior lights, seat belts, etc.
- Air Conditioner - Check A/C properly.
- Other Controls - Doors, windows and the locks and see if there are any odd sounds.
- Check the bonnet and the fuel cap lid cover levers.
- Test the pressure while applying the hand brake and the pedal brake.
- Check the toolkit that comes with the car and make sure all items are present.

The document checklist for a used car
- Receipt of payment to the dealer.
- The Owners Manual and Service book.
- Car Keys - You get a pair of identical keys.
- The Invoice (in original and a duplicate copy)
- The Sale Tax & Octroi certificate.
- The Registration Certificate - The RC book with an endorsement of lifetime tax paid.
- The PUC badge - For new cars PUC certification is valid for one year.
- The Delivery Note - The dealer issues a delivery note with the time and date.
- The Insurance Certificate