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The Do’s And Don’ts When Buying A Car From A Private Seller

The Do’s And Don’ts When Buying A Car From A Private Seller
Purchasing a car can seem like a lengthy process especially if this is the first vehicle you’re buying from a private seller.

From finding the right vehicle to getting finance and then finally sealing the deal, all of that can seem tiring. You need to be careful when buying a vehicle from a private seller. If you’re not careful you might suffer as a result and get a vehicle that won’t last you more than a few years. 

This is why it is important that you are prepared and know what you shouldn’t do in order for you to get a great deal. Read our top tips on do’s and don’ts when purchasing a vehicle from a private seller. 

Do: Thorough research 

When buying a vehicle from a private seller it is important that you know what you’re getting yourself into. There are many people who are scammed into cars that barely work or that have been stolen so it’s important to keep focus and trust your instincts.
Look at how much the certain vehicle is being sold for online and at a dealership. If the price is too high then it would be a good idea to negotiate for a lower price or look for another seller. 

Do: Look into financing before you make an offer 

Before you make an offer to a private seller, you should look at your financing options. Calculate how much monthly instalment you will be able to pay before going to a lender. Visit an authorised financial service and discuss how much financing you are eligible for and your payment options. When looking for a vehicle you need to find a motor vehicle finance solution that will work out for you. 

Once you have a quote from your registered credit provider then you can start contacting sellers. Contacting sellers after you have been pre-selected for a finance deal can help you get an idea of what your price range for a vehicle is. Because there is no point of finding a seller, negotiating only to find out you haven’t received a confirmation at the time from a lender. 

Do: Take the vehicle for a test drive

Test driving a vehicle is crucial in the process of purchasing a vehicle. That way you can see whether or not the car is still in good shape. When you go for a test drive, have a friend or family member come with you.
That way you can have another set of eyes and ears when test driving the vehicle. While test driving the vehicle you should also inspect the exterior of the vehicle. Check the engine, battery, brakes, and controls to see that it is still working efficiently. 

Don’t: Take the first offer 

When purchasing a vehicle from a private seller it’s important for you to negotiate. Even if you’re getting private vehicle finance you need to find an affordable deal so that you won’t have high monthly repayments. So the main goal is to find an affordable car. 

If the seller is asking for a high price, look for other sellers. You need to make sure that the seller knows you’re serious and that you won’t settle for less. You will be repaying the vehicle for a few years, therefore, you need to purchase a vehicle that's in good quality and that you love.
Lastly, make sure you avoid buying on impulse as that won’t help you. Choose a vehicle that will fit your daily needs. if you’re only travelling around town there is no need for you to purchase a big vehicle that has been designed for a gravel road. 

Don’t: buy the vehicle without all the necessary documents 

Don’t take the sellers word - rather be sure that you have all the vehicle documents to ensure you are buying a car legally. It would be best to rather wait until you have all the documentation before closing the deal.
Below are the documents needed during the selling processes: 
• Proof of ownership 
• Notification of change of ownership 
• Vehicle registration certificate
• A sales receipt from both you and the seller
• Roadworthiness certificate 
• Car history report 

Don’t: forget car insurance 

It is very important that your vehicle has car insurance. Many lenders require you to have car insurance when receiving funding. Your vehicle should always be insured, as anything can happen while you’re on the road.
There are different car insurance options that are available for you that could fit your budget, there is third-party insurance, third-party fire and theft, and comprehensive car insurance. 

There will be times when issues aren’t even be caused by you. You could be involved in an accident, theft or fire, and you would still need to pay for the financing even if you no longer have a vehicle.
For these reasons, it’s important to rather be on the safe side, and have to insurance for your vehicle.

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