4 Small Things That Can Lead to Big Mistakes in Used Car Deal
When it comes to purchasing a used car, everybody will tell you that you have to be super careful when selecting a car. You have to apply due diligence when you decide to deal for used Maruti Suzuki Alto K10 in Bangalore. However, the due diligence is not just limited to the condition of the car. There are certain aspects that you should pay attention to in the deal.
Who Signs the Papers?
You should carefully see who is signing the papers for transferring the ownership of the car. If you know that the car is jointly owned by the husband and wife, then make sure that the transfer documents are signed by both of them. This way, neither of them can claim a right to the car later on.
Declaration of Hypothecation
If the car has been hypothecated with a finance company or a bank then make sure that the hypothecation letter is handed over the by owner. If you have a doubt that the car has been hypothecated and the owner is hiding the fact, then ask the owner to hand over the duplicate key. If the duplicate key is not available then it means the car is with the finance company.
Ensure that the owner shows you the original registration certificate. If the certificate has DRC mentioned then it means it is a duplicate copy. In this case, ask the seller or dealer to give you in writing that the original is available and will be handed over when the deal is finalized.
Note Date & Delivery time on Delivery Note
Get the dealer to sign the delivery note with date and time of delivery. This way any liabilities arising before this will stay with the dealer.