So you have decided to purchase a new vehicle from someone, but are unsure as to the exact steps to follow to ensure a relatively stress-free and smooth deal? We have compiled a list of essential actions that you, as a buyer need to do during the deal:
Due diligence
By due diligence, we mean getting as much information surrounding the vehicle as possible before starting the process of purchasing the car. Start by doing research online by checking out reviews, ownership forums, and other web-based resources to find common problems, and what to watch for on specific models while also checking the approximate price and milage that is reasonable for the variant you are after. Then ask the seller pertinent questions such as the mileage, year of production, the service history, and history of repairs, both mechanical and cosmetic while also gauging from the owner what their impression of the car's general condition is.
A physical inspection
Physically inspecting a car is essential when buying pre-owned, but this might not be possible if the car is far away or indeed if you are unsure as to what to look for. However, we must insist that you either take someone along who knows what to look for along or send someone who knows what to look for to go through the vehicle as there might be something drastically wrong with the vehicle in question.
Things to look for during this inspection are whether the vehicle's engine and VIN number as stated on its license disc and registration document match those seen on the vehicle itself, whether the person selling the car is the registered owner, as well as an inspection of the paintwork and bodywork, brakes, tyres, and the powertrain for visible leaks.
Test drive
Test drive the car and ensure this is done from when the components are cold so that any issues can be both audible and visible. Pay attention to how easily the car starts, and listen for any strange sounds, so ensure the radio is off. Test the brakes and ensure that there is sufficient stopping power, listen for sounds coming from the steering system when turning, and ensure that there is not a floating sensation when driving and that the ride is not overly bouncy as this could be signs of suspension wear.
Have a roadworthy done
After inspecting the car and deciding that you are happy with what you see, it is a good idea to have it sent for a roadworthy inspection by a reputable facility. Many finance houses will insist on this inspection being done before providing finance in any case, however, if this is not a prerequisite, it is still a good idea to have a thorough inspection done. When the faults are identified, this gives you bargaining power with the seller while also allowing you to decide whether to go through with the deal or not and if you do, then you at least know what you are in for.
Apply for finance
Once the inspection is done, you will need to apply for finance, so ensure that you are 18 years old or older, are a South African citizen, are a permanently employed individual, earning a minimum of R6 500 per month, possess a valid South African driving license and have a good credit history. Once these boxes are ticked you will need the following documents:
- A copy of your valid South African ID document
- A copy of the front and back of your South African driver's license
- Proof of your income (not older than 3 months)
- Latest 3 months payslips (salaried persons)
- Latest 3 months payslips and latest 3 months stamped bank statements (commission-based earners)
- Proof of residence (not older than 3 months)
- For private-to-private finance, the vehicle details, the seller's name, surname, and cell phone number are required
Register
Once the deal is done, you will need to register the car in your name, which will require a trip to the Traffic Department with the following documents:
- ID document
- Seller's vehicle registration certificate
- Roadworthy certificate
- Proof of purchase or sales agreement
- Valid license
- Completed registration application form
