A recent case involved a single mother who was scammed when her used Toyota Vios broke down a week after purchase. Here’s what went wrong and how to avoid similar issues:
- Misrepresentation: The car was claimed to be a 2014 model but was actually a 2013 model. Always verify the vehicle’s year of manufacture.
- Lack of Warranty: The seller refused responsibility after the sale. Always ensure you have a written warranty.
- High Fees and Interest Rates: The seller imposed exorbitant fees and a high-interest rate. Verify and negotiate all fees and financing terms before signing.
Advice from Industry Experts:
- Always Inspect Thoroughly: Take the car to a trusted mechanic for a thorough inspection before purchase.
- Demand Transparency: Ensure all terms, including warranties, are clearly written and agreed upon before finalising the deal.
- Verify Seller Credibility: Research the seller’s reputation through reviews and ratings. Avoid sellers with a history of complaints.
Key Steps in Buying a Secondhand Car:
- Research and Planning:
- Budget: Determine your budget, including potential repair costs.
- Car Model: Research the reliability and common issues of the car model you’re interested in.
- Market Value: Check the market value of the car to ensure you’re not overpaying.
- Inspection and Verification:
- Vehicle History: Obtain a vehicle history report to check for any accidents, service history, and previous ownership.
- Model Year: Verify the car’s manufacturing year against the seller’s claims.
- Physical Inspection: Conduct a thorough inspection of the car’s exterior, interior, and engine. Bring a trusted mechanic if possible.
- Test Drive:
- Drive the car under various conditions (highway, city traffic, etc.) to check for any unusual noises or performance issues.
- Documentation and Warranty:
- Warranty: Ensure the car comes with a warranty. A handwritten warranty with clear terms is preferable.
- Paperwork: Verify all paperwork, including the sales agreement, title transfer, and any additional fees.
- Negotiation and Finalising the Deal:
- Price Negotiation: Negotiate the price based on your findings and market research.
- Fees Breakdown: Get a clear breakdown of all fees, including loan processing, Puspakom inspection, insurance, road tax, and handling fees.
