Singaporeans and Permanent Residents are known to be hardworking. They commute every day to go to work. Beat other commuters to get on time. Sweat their way out of MRT stations to get home safe.
There’s another option for travelling to work. Owning a personal car is very useful. Not only that, but you also have the opportunity to tour around anytime, anywhere. Make sure you have enough gas and a map with you so you won’t get lost.
A brand new car is extremely expensive. No wonder, majority of the residents prefer buying a second-hand car instead. It is more affordable and quite accessible.
6 Easy Steps When Buying a Second-Hand Car
Are you always on a rush? Do you feel tired of catching the next train every time you go to work?
You can overcome it. Secure your own vehicle. Just follow the quick guide when buying a second-hand car.
Step 1. Work Out on Budget
Buying a second-hand car is a big transaction just like a brand new car. You definitely need to work out on a clear budget.
A car purchase is not only a one-time big-time payment. It has a lifetime expense you need to budget.
For example, monthly instalment and repayments take months or years to complete. On top of that, there is gas and maintenance fee to settle.
Generally, there are two ways when buying a second-hand car. One is through legit used-car dealers while the second one from the owners themselves.
Getting a second-hand car from dealers charge higher than direct sellers. Why? Repair of the used cars is done before presenting in a showroom. Also, it is inclusive with a 6 to 12 months warranty period.
Meanwhile, buying a second-hand car from direct sellers is advantageous. Price is more affordable. In addition, you can get to know more about the car based on the experience of the previous owner.
Step 3. Choose your Own Car
Have time to think about the kind of car you want. Buying a car is a very crucial decision.
Consider the kind of speed, size and colour you prefer. Take note of the car price and maintenance.
Most importantly, ask for a car evaluation. Look out for any car defects.
Consumers Association of Singapore (CASE) strongly encourage customers to request car evaluation. This is a necessity, especially when buying a second-hand car.
Step 4. Strike a Bargain
Don’t get too excited when you find the perfect car. Contemplate first.
Normally, prices of second-hand cars are negotiable. The initial offer is probably higher than the actual price they are willing to sell for. Bargain to a more reasonable price.
Some customers feel intimidated during negotiation. Be well-prepared for it. Do market research beforehand. Negotiate for a package deal. You may also do a trade-in. Stock knowledge and facts first before handing out your cash.
Step 5. Apply for Loan and Insurance
Complete your car transaction. Get a loan and adequate insurance coverage.
Make loan application from banks and licensed moneylenders in Singapore. On the other hand, search for a trusted private insurance firm for your insurance.
Shop around different lenders and insurance providers. Prices usually vary from agency to agency. Choose the best loan offer and insurance claims when buying a second-hand car.
Step 6. Close the Deal
Seal the deal. Sign the sales agreement. Make sure you have read all the terms included in it. Hand your deposit afterwards. This will finally close the transaction.
At this point, you cannot back out anymore. Ask for a copy of an official receipt from the seller. It serves as your proof of payment. Keep it safe. It comes handy during your monthly instalments.
Some Singaporeans are doubtful when buying a second-hand car. Worry not. The process is simple as stated above. Follow the quick guide and soon you can drive the second-hand car suited for you.
How to Check Service History When Buying a Second-Hand Car
Finding a reliable and working second-hand car is quite tricky. Checking out if it is price worthy is another.
Get a good glimpse about it through its service history. Do this for good quality when buying a second-hand car.
Check Car Online
Avoid any nasty surprises with your second-hand car. Pay for an online history check.
A history check is actually necessary. It identifies if the car has been written off by an insurer. Also, you will know if the car has been stolen or not.
Visit the legit and trusted website. Prioritize your safety when buying a second-hand car.
Call the Experts
Have your trusted mechanic inspect the used-car. This will identify if there’s an existing problem in the vehicle. Also, they can foresee a future car dilemma.
Typically, the service is done quickly. Feedbacks are provided within 24 hours. Always have a thorough car check-up. Assure high-quality vehicles when buying a second-hand car.
Know your Rights
Buying a second-hand car from car dealers means you’re protected under the law. The car must be fit to drive with satisfactory quality. If problems occur, your legal rights is supported by the law.
Meanwhile, purchasing from direct sellers will not have the same legal protection. It is your responsibility to check if the car is of satisfactory quality. Always keep contact with your seller. If something goes wrong, contact them immediately.
Wait up! Before you seal the deal, check if everything is real. A car history check is legal, especially when buying a second-hand car.
In your everyday life, budget is always at the top of your list. Indulge yourself in the right amount. Spend only when it fits. Do the same when buying a second-hand car.
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