If you wish to buy a new car in Singapore it could mean that you dig deep into your bank. Due to the fact that buying a new car is extremely expensive, therefore, most people resort to get the used ones or even getting monthly rental car service from Bizlink Rent-A-Car since after all it’s the matter of the four wheels and you get moving.
In Singapore, it’s common when people buy used cars. One can get a surprise when he goes looking for used cars in Singapore as he comes across several gems. However, you need not worry since there are several things that you should consider before buying a used car so that you don’t get conned easily or your car falls apart after traveling for a short distance. Get to read them here below to avoid messing up when making decisions on which used a car to grab in Singapore.
1. The means by which you will pay for your car.
You should ask yourself a question about how you are going to pay for your car, decide whether you are going to pay for your car either from your savings or from a loan. If you opt to go for a loan then you should decide on the amount of money that is needed and also the type of loan that you will go for. it is therefore advisable that, your first decision be going for a car loan and to be specific a used car loan. Most of the used car loans offered offer seventy percent of the valuation, for instance, those from OCBC and POSB.
If you realize that a car loan does not work for you then you can consider alternatively going for a personal loan. Of great importance here is that in either option you should make sure that you are first eligible to be given a loan and also that you can afford to pay it back. It is needless for you to take a loan that you cannot pay back.
2. Take a look under the hood
It obvious that cars are noisy and loud. More often those that have been used for some time but it essential that you just have a look keenly on these sounds when you are buying a new car. In case the car is making a lot of noise which is unusual, then it may indicate that it has deteriorating engine conditions. And since the engine is the heart of a car then you wouldn’t want a car with a failed heart.
Some of the important things that ought to be fine include the key components such as the suspension, steering assembly, tire assembly and the gearbox, all should be fine. All these entail a check for rust.
Always never go alone when purchasing a second-hand car. Take along a friend with you or even a relative who you have trust with. A friend or relative with all knowledge about the particular car you plan to purchase. A friend or relative will give you information on different brands available in the market that are known for higher maintenance costs and breakdowns. It will be such a frustrating thing when you purchase a car and find that you spend large sums of money servicing it.
3. Does the car have all its documents?
You should consider asking the seller if all documents are in place before even starting to negotiate on the price of the car. Buying a second-hand car does not mean that the buyer should not request for the car documents. Some of the most important car document you should request is the service history of the car you are to buy. This is an important document a buyer should keep an eye along with other documents. This document will guide you to know the internal condition of that particular car.
4. Age of the car
The age of the car is one of the major factors that affect the resale value of a car. Having information of how long the car has been in service will greatly help you know how much the car has depreciated in value from its original one. Singaporeans have the idea that owning a car is not such a good investment deal one can ever make since automobiles do depreciate in value at the time they are purchased as second hand. It is such a safe thing when saying that an individual can plan to pass up on automobiles that have stayed on service ever since you even dreamt of buying your first Ferrari.
5. Beware of the seller
A buyer should always be aware of where he or she is making the purchase from. People have always run for online advertisements. Sellers can take pictures of a different car and post and after the people to complete the deal meet they realize that the pictures they saw on the advertisement are quite different of the real image of the car. Avoid being conned, always beware of the seller and know the exact thing you plan to buy before starting negotiations on the final price of the car.
Always check keenly on the ownership documents of the car to avoid buying even stolen cars that will put you into trouble after completion of the purchasing process. Don’t be too eager to complete the purchase process. You should take it slow to know all about the car. Hurrying up the process will ever give you poor returns since you would have avoided checking on some information on the car and you will come to note the mistake after you have completed the purchase.
Always put into consideration these tips to guide you make the right decision when planning to buy a second-hand car in Singapore. This is the only guide that can give you the best car that you won’t regret whatsoever after buying it.All you need is time for research and analysis checking on the important documents and you will end up with the best car ever. After getting your dream car, consider going for a car insurance to cover it. Make the best purchase today.
While considering getting used cars in Singapore, do keep it mind that it is important to get a car insurance policy.