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Old 16th September 2013, 20:48   #361
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Default Re: ARTICLE: How to buy a *USED* Car in India

Dear All,

Need your expertise advice on the following query, I am planning to buy an used Electric car from Delhi to Bangalore. The car is 2008 model and I find the rate as ok for the model. Can anyone advice as do we have any third party inspection company to certify the vehicle and also what all the mandatory things to check in the electric car apart from battery ( Seller claimed battery is very new and he will produce the copy of the same) .
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Old 21st September 2013, 22:31   #362
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Post Re: The "USED" Car Price Check Thread

This to all members of Team-BHP who sold their cars.

Is there any correlation between IDV (Insured Declared Value) of a vehicle to it's resale value?

Kindly reply.

Thanks.
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Old 21st September 2013, 23:30   #363
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Quote:
Originally Posted by mroptimist
This to all members of Team-BHP who sold their cars.

Is there any correlation between IDV (Insured Declared Value) of a vehicle to it's resale value?

Kindly reply.

Thanks.
Not really. Sometimes IDVs are higher than Resale Values, as is the case with higher end cars like Skoda Superbs, Bimmers and Mercs. And at other times Resale Values are higher than IDVs in case of popular cars like Innovas. A lot of buyers tend to use IDVs as a benchmark for resale values, but in my experience it doesn't really help. A Bank or Lending Agency will consider the IDV of vehicle while evaluating and sanctioning a loan on a car, and they usually wont lend higher than the IDV of the car.
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Old 21st September 2013, 23:39   #364
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Default Re: The "USED" Car Price Check Thread

Quote:
Originally Posted by mroptimist View Post
Is there any correlation between IDV (Insured Declared Value) of a vehicle to it's resale value?.
I have seen a Ford Ikon with IDV 2.4 lakh sold for 1.7 lakh.

But some sellers mention this to up the asking rates.
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Old 28th September 2013, 22:45   #365
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Default Re: ARTICLE: How to buy a *USED* Car in India

Hello fellow petrol heads. This is my first post on Tbhp(Hope this is the right thread for my queries). Feels nostalgic, it has been exactly 2yrs since the first thought of buying a car struck me after reading tons n tons of posts about crazy OHCs and supreme Balenos in September 2011. It took me 2yrs of extreme "kanjoosi panthi" and loads of sacrifices to save up enough money to finally buy a car(with my hard earned money,not dad's). Now I have a new and bigger problem, I really don't know what to buy and how much to really pay for it. I know the fact that today OHCs and Balenos are even older than what they were 2yrs ago, but my head and heart are still firmly glued at them both. Please do suggest me the ideal price for the following cars:

1) OHC 1.3Exi
2) OHC 1.5Exi
3) OHC Vtec
4) Baleno

Please suggest the best car to suit my needs,

1) I use the car only on weekends (80-100kms max per week)

2) Will do performance mods(Headers, exhausts, filters, intake etc.,) so need a revv happy engine which screams and yet is music to the ears.

3) Probably all the cars I mentioned would have crossed 1lakh Kms on the odo's(if not tampered) so which would be a durable one for another 30k kms.

4) (most important)Price should not be over 2lacs. otherwise I have to start my saving again.

Thanks in advance guys. Happy to be a part of the Tbhp family.
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Old 6th October 2013, 23:58   #366
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Default Re: ARTICLE: How to buy a *USED* Car in India

Hi. I am about to buy a USED car, which will be my first time of going for a pre owned car. I am confused on what is the correct First step to be taken between the following two tasks as one will HAVE to be Done FIRST , and the other task after it's completion !
A)"Transfer of Insurance policy from seller name to buyer name "
and
B) Transfer of RC from seller to buyer name.
After searching on the net , I am unsure but think that first the RC should get transferred to the name of Buyer and only then will the Insurance company accept to undertake change in the name of owner of the policy ! Is my assumption correct ? If yes, will the RTO accept my application for transfer of name of owner even though the Insurance of the vehicle will be in the name of the seller ? Appreciate if someone can explain this in detail on the correct sequence of tasks to be done . thanks
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Old 9th October 2013, 10:33   #367
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Default Re: ARTICLE: How to buy a *USED* Car in India

Quote:
Originally Posted by ADH View Post
Hi. I am about to buy a USED car, which will be my first time of going for a pre owned car. I am confused on what is the correct First step to be taken between the following two tasks as one will HAVE to be Done FIRST , and the other task after it's completion !
A)"Transfer of Insurance policy from seller name to buyer name "
and
B) Transfer of RC from seller to buyer name.
After searching on the net , I am unsure but think that first the RC should get transferred to the name of Buyer and only then will the Insurance company accept to undertake change in the name of owner of the policy ! Is my assumption correct ? If yes, will the RTO accept my application for transfer of name of owner even though the Insurance of the vehicle will be in the name of the seller ? Appreciate if someone can explain this in detail on the correct sequence of tasks to be done . thanks

Hello ADH,

Well I got myself a second hand Mitsubishi Cedia on 7th October 2013 and was facing the same issue.

When I went to take delivery of the car I had filled two forms (Form 29 & Form 30) on the spot for transfer of ownership from the seller to my wife because she had address proof of Delhi and I didn't. I gave copies of her address proof (Bank Statement) and identity proof (PAN Card) along with the two forms. The agent said he will take both the forms to RTO and get the ownership transferred in two weeks.

Then while cross checking the documents again I found that the insurance of the car was valid only till 28th September 2013. The same agent took photos of Form 29 and 30 that I had filled and sent it across to his contacts in Reliance Insurance through Whatsapp. The evaluation guys came down and took photos of the car, did evaluation, completed the formalities and issued a new insurance, on my wife's name, on the basis of digital copies of Form 29 and Form 30.

I hope that helps.
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Old 22nd October 2013, 12:37   #368
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Red face Re: ARTICLE: How to buy a *USED* Car in India

Quote:
Originally Posted by ADH View Post
A)"Transfer of Insurance policy from seller name to buyer name "
and
B) Transfer of RC from seller to buyer name.
I am not sure if this is specific to Bangalore or something - when I got my pre-owned Optra in 2009, the insurance was with Reliance. Though I had forms for transfer of insurance from the previous owner, the Reliance guys insisted that the RC transfer needs to happen first as they need to put the new RC copy on my name in file before they can transfer.

The RC transfer took 3 weeks post which it took a single day for the insurance transfer to happen. Hope this information helps!!
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Old 22nd October 2013, 17:21   #369
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Default Re: ARTICLE: How to buy a *USED* Car in India

Quote:
Originally Posted by ADH View Post
A)"Transfer of Insurance policy from seller name to buyer name "and B) Transfer of RC from seller to buyer name.
Hello ADH,

The Vehicle is supposed to be transferred in your name first. Only then the Insurance policy will be transferred in your name.

Anyways the Insurance policy is for the vehicle & unless the vehicle is not in your name the insurance policy cannot be issued in your name.

Thanks,
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Old 25th October 2013, 22:54   #370
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Originally Posted by Jignesh View Post
Hello ADH, The Vehicle is supposed to be transferred in your name first. Only then the Insurance policy will be transferred in your name. Anyways the Insurance policy is for the vehicle & unless the vehicle is not in your name the insurance policy cannot be issued in your name. Thanks,
Wish to share with fellow BHPians that I have finally managed to get the Insurance transferred first (between the two tasks - transfer of name on RC and INSURANCE). Now I am proceeding to apply for Transfer of owner name on RC. The insurance company agreed to make the transfer basis the signed copy of the two Forms - 29 & 30.
Thanks all for your valuable advice.
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Old 18th November 2013, 08:50   #371
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Default Re: ARTICLE: How to buy a *USED* Car in India

Hi, fellow BHPians.
Apologies in case I am deviating from the current posts within this thread.
I need some advice on helping me out with buying my first car which is a used 2002 model Santro LE Zip Plus (as per the logo I saw on the car).

Now a brief description - the car & myself both are located in Bangalore.
The car is actually one of my neighbor's in our colony and the car & family are both known to my house owner who says its a nice car.
Now the points are:
1. I was not having any plans on purchasing a car any soon.
2. As this was a known car and I have often spotted it lying idle on my street I was interested in keeping it.
3. The car's got a very weak battery since as it was not being used for quite some time and would not start.
4. Cosmetically it looks fine, with some minor scratches on the front bumper which is acceptable on Bangalore vehicles.
5. Car has run only approx 55K kms these years as they bought 2 other cars in the following years and has been using this one quite occasionally, mostly lady driven.
6. Price being quoted is 1.10 Lacs which seems to be not quite negotiable.

My queries:
1. Is the price justifiable?
2. Could someone explain me the variant specifications of the LE Zip Plus Santro model? Is this a top end model of 2002s?
3. How much would a normal Car battery & installation would cost? (I personally prefer Amaron as it's been running fine on my Bike from Long).
4. Would there be any Major spare parts change required on a Car which has completed 55K kms? (Minor changes would be OK as it is understandable for a car this old)
5. In case the quoted price is too high, how much could I bargain for & how what are the points I could validate for bargaining?
6. In case a mechanic needs to be brought to inspect the vehicle (as the vehicle would not start) how much should we need to pay him on an average?
Bangaloreans, kindly suggest a known guy in / around Mahadevapura area who would be ideal for this inspection.

All the above queries are because I am on a very tight budget and thought that this would be a nice deal if works out.
2013 seems to be quite a lucky year "Automatively" as I got my membership on TeamBHP approved & planning to get my own first car this year!!
Sorry for keeping the post quite long guys.
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Old 3rd December 2013, 15:47   #372
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Default Re: ARTICLE: How to buy a *USED* Car in India

1. Price according to me should be around 80K-1Lac as per Bangalore market. Would be lesser if it was Mumbai or Delhi.(looks like we people from Bangalore pay four time the road tax, huh)
2.Santro owners can comment better. I do think Zip Plus was the top end model around that time. Not completely sure.
3. Car battery: Amaron between 3-4K. Installation is complementary. You can also buy it from authorized battery dealers. I think I have seen one at Hoodi Circle.
4. Please take opinion of a mechanic. Make sure of no signs of rust for the engine and the body since the car has been standing for quite some time in open(?)
5. I dont think its too high to quote 1.1L for a 2002 Santro. Though I mentioned the price according to me above.
6. I would suggest get the mechanic to start the car and you can go to the Hyundai ASS. There is one ahead of Phoenix mall. I think its Advaith though not sure.They will also evaluate the car for you which would not be more than 60-70K. You can use this in your negotiations.
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Old 4th December 2013, 09:32   #373
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Default Re: ARTICLE: How to buy a *USED* Car in India

Quote:
Originally Posted by evillife View Post
1. Price according to me should be around 80K-1Lac as per Bangalore market. Would be lesser if it was Mumbai or Delhi.(looks like we people from Bangalore pay four time the road tax, huh)

Thanks for the comments & updates "Evillife".
Few Updates:
The deal is still not finalized.

Last week I did bring in a mechanic who had got a spare battery along. The car battery was charged for a couple of minutes & it did start magically with the first twist of key.

Mechanically the car is absolutely fine, though not "as in showroom condition" it does perform well for a 55K on Odo car!
Only expense I would have at the moment would be a general service on the car. The battery as per the mechanic is fine as well and is just 1-2 yrs old and do not need to be replaced.
The tyres too got some tread on them and should run fine for atleast another 10K kms.

Expense Required:
There are these slight amount of rust / scratches on car body due to being in open for a long time which might need to be taken care of though not immediately.
Also I think it would be better to have the front & rear body colored bumpers changed to new normal black bumpers as they would require to be repainted.

The car would also come with a Pioneer HU + 4 speakers & tweeter & has a working Remote Locking system.

The owner does not seem to budge even slightly from the final price 1.10 Laks!
Advises please?
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Old 4th December 2013, 16:29   #374
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Default Re: ARTICLE: How to buy a *USED* Car in India

As I suggested you can take the car to nearest Hyundai ASS with the owner perhaps and get the car evaluated. Also check the insured value of the car (Will definately not be 1.1L though if it is then you can try to close it at 1-1.05L), you can always use that in your negotiations.
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Old 4th December 2013, 20:42   #375
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Default Re: ARTICLE: How to buy a *USED* Car in India

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Originally Posted by evillife View Post
As I suggested you can take the car to nearest Hyundai ASS with the owner perhaps and get the car evaluated. Also check the insured value of the car (Will definately not be 1.1L though if it is then you can try to close it at 1-1.05L), you can always use that in your negotiations.
Thanks,
Will definitely try this out, probably this week or the Next.
Let's see how it comes out!
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