Are you planning to buy a car? Most people want a new car, but sometimes they can’t afford a second-hand car. If you are evaluating that possibility, you must have certain considerations.
MORE INFORMATION: Used vehicle prices increase by up to 10% due to the impact of the exchange rate
It should always be borne in mind that buying a car is an expense rather than an investment, if we consider that year after year it devalues and, due to its use, generates more maintenance costs, indicates Enrique Castellanos, professor of Economics at the University del Pacífico, who gives some guidelines to keep in mind when looking for a used car.
WHAT SHOULD I KNOW IF I WANT TO BUY A SECOND CARE?
These are some of the considerations you should have if you are looking to buy a used car:
- Look for the vehicle brand to have more than one representative in Peru for the availability of spare parts: having a single representative will raise the price of spare parts, but if there is more than one dealer, it will be reduced by the competition.
- If you are going to finance it, ask the interest rate with the bank and the car manufacturer.
- Always ask the real price in cash or cash; and how much it would come out with all the interests.
- The condition of the vehicle: it is important that you check the car in detail with an experienced and trusted mechanic. It is not enough to make it look pretty and try it for just a few minutes.
- Analyze the maintenance and insurance costs that the car will generate. The older the more I spend.
- If the vehicle is high-end, it must be taken into account that the maintenance costs are high.
WHAT IS THE BENEFIT OF BUYING A USED CAR?
The benefit of buying a used car is undoubtedly the price. “A new car loses 15% of its value when it leaves the store. The next four years it depreciates 10% annually. As of the sixth year, it is devalued by 5% until it reaches a ceiling “, explains the economist Enrique Castellanos. He mentions, however, that there are brands that have higher resale value than others. Another benefit of buying a second-hand vehicle is that the cost of vehicle insurance is lower.
WHAT SHOULD I TAKE INTO ACCOUNT WHEN DOING THE PROCEDURES TO PURCHASE A USED CAR?
According to the Ministry of Transport and Communications, at the time of making the purchase procedures you must:
- Check that the tax payment is up to date: The annual tax is applied to the ownership of cars, vans, station wagons, trucks, buses and buses, with 3 years or less of antiquity, from their first registration in the Vehicle Property Registry.
- Check that there are no fines, lawsuits or arrest warrant: Through the Vehicle Registration Certificate issued by the National Superintendency of Public Records (Sunarp), you can find out if the vehicle registration item consists of liens, arrest warrants, among other problems that may affect the free disposal of your vehicle.
- The procedure is notarial: the owner and the buyer must go to the notary’s office for the vehicle ownership transfer signature.
- Vehicle transfer: It must be sent by the notary, through the SID Sunarp, for registration at the institution.
