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Here to watch comments and also please do suggest me what I should keep in mind when buying a SECOND HAND CAR. Which ones should I prefer?
Thanks! 🙏
Recently i bought a second hand Hyundai Verna SX(O) 2018 Petrol Automatic. And it is one of the best purchases in my life. Initially i was going for a new car (Slavia) but for that I have to opt for some loan. With this purchase i saved lots of money and i purchased it with cash.
Things you can consider before buying a used car:
1) Check its running (Km)
2) Manufacturing year
3) Service history
4) Accident history
5) Do check it with you your trusted mechanic
6) If possible perform a check from an authorised service centre
If all good then you can consider that car. For used cars prefer authorised used car dealers like Truevalue, Cartrade, etc.
Chief
Buddy, I have a slightly different opinion on this.
See, everything can't be an investment. Okay. I don't know why everyone on SM advices against buying a car just because it's a depreciating asset. I'm like So what? It's your money and if you want to buy a car, just go for it. Don't fall for SM bullshit and don't go into a guilt trip for buying it.
Coming to finances, you will have to decide on the budget. No one else can do it for you. See how much you can spend on a car. A car comes with a maintenance cost too, so consider all the points and see whether it is feasible to buy a car at the moment or if you want to wait for some more time.
When you mentioned that your mom travels in public transport, I could feel you. I was in a similar situation. We didn't have a car in my family and my grandfather used to travel by bus a lot and it's really difficult to travel in public transport in summers and all. You got the point right. I didn't have enough money then to buy them a car but I bought one when I could some years back. And if someone had come to me and had told me don't buy, it's a depreciating asset, I'd have punched that person in the face. 😂
So, yeah decide on the feasibility and budget and go for it.
Chief
Got your point. Thanks @Infosys1.
Spend as minimum as possible, trust me no matter how luxurious car you buy , after two three months it's charms fads away , and you will see it just a mode for commute. So don't spend too much.
Chief
Thanks for the suggestion. I think I have some clarity now.
Please drop in your suggestions as well. 😅
Chief
Take a car on lease/rent instead of buying. Owning a car is not economically feasible for IT folks who don't take the car out often but the situation may change in few years with disruption in EV industry. My suggestion is to wait for 3-5 years before committing to buying a car
Car on lease or rent? Where can I actually check that? Any trusted website?