Buying a second-hand car? Here's some GREAT advice

Age and the kilometres driven are important price determinants.

Experts say that one should try and zero-in on a car which has not been driven for more than 50,000 kilometres.

However, if you are looking at buying a second-hand car only for 1-2 years and for basic usage then you can even consider a vehicle which has been run for up to 70,000 kilometres.

But anything over and above that is a clear 'avoid' because most cars have a running life of around 100,000 kilometres, beyond that they live on borrowed time

Your checklist should also entail a thorough check of the car's condition. Also, try and look for a car which is feature-rich.

Apart from this, previous ownership of the car also affects the price. This means that if a car would have had been used as a taxi earlier, then its price significantly comes down.

Also, the demand for a car also affects the pricing.

A test drive accompanied by a mechanic should be a must on your list.

Watch out for obvious signs, like a fresh coat of paint. This may be to mask an accident. Also, make time for research on the car model that you have zeroed-in on and its market response so far. Find out if any defects or problems have been encountered with that particular model so far.

Make sure you are in possession of all the necessary documents before you take off with your new, used set of wheels.

Key documents include: copy of insurance, original car sale document, warranty cards, maintenance copies, etc.

As a seller, in order to get a good deal, you should try and furnish all required details about the car. All information about the condition, history and ownership of the vehicle should be made available to the buyer.

The right price, the right place

Earlier the options available for buying a used car were limited to the neighbourhood mechanic. But now, there are more avenues that can be explored. This helps avoid the problem as well.

Companies such as Maruti, Tata Motors, General Motors have dedicated showrooms for used cars

After taking back the vehicle, they are serviced and are also put through a long checklist before being put out on sale.

Though these company showrooms may command a higher price of anywhere between 10-15 per cent, they come with some peace of mind. They are most likely to be in a better state and generally come with freebies such as three free servicings, etc.

Another option can be big car dealers. They can give you a clear picture about the condition of the car and if need arises, then can also repair and renovate it as per your demands.

However, both the seller and the buyer will have to pay a commission of up to 2 per cent.

You can choose the car based on your location, model, kilometres driven, etc.

It is possible that someone may offer you a slightly lower price. Don't fall for just the price until you are convinced about the condition of the car. Else instead of saving money on a second-hand car, it may turn out to be expensive!

Experts say that one should ideally not pay more than 50 per cent of the value of the car, if it is more than three years old. This amount should also cover up the expenses you will incur on servicing and renovation.