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Step-by-step Guide to buy a Used truck in India

23-Feb-24 12:04 PM

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Posted byPriya SinghPriya Singh on 23-Feb-2024 12:04 PM
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Used trucks are always a better value than new truck models, which depreciate quickly after purchase. Used trucks are a good investment. Choosing a used truck can be more challenging than settling on a new truck. When it comes to purchasing a secondhand truck, one must be more cautious. Which used truck is the most appropriate? There are numerous aspects to consider when purchasing a used truck.

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When it comes to buying a truck, the process may be stressful, and time taking. If you want to save money on an automobile, buy a used one instead of a new one. When you buy a new truck, it begins to depreciate as soon as you drive it out of the dealership and continues to lose a significant proportion of its value during the first few years of ownership. When you buy a used truck, the prior owner will bore the brunt of the depreciation in the first few years. As a result, the cost of purchasing a used truck is much lower than that of purchasing a new truck.

Choosing a used truck for purchase, on the other hand, can be more challenging than settling on a new truck. When it comes to purchasing a secondhand truck, one must be more cautious.

Which used truck is the most appropriate? Unfortunately, there is no one-size-fits-all solution to this subject. There are numerous aspects to consider when purchasing a used truck. That is why we prepared this guide to educate truck buyers on how to purchase a properly used truck.

You can choose the manufacturer and model, as well as the colour, but there are many other crucial factors to consider before deciding on the perfect Truck, such as axle arrangement, payload capacity, and so on. Do you need some guidelines on how to buy a used truck? Then you've arrived at your destination. We understand how it is important for you to find the right truck for your business. Let's get started step by step:

1. Choose the Type of Truck You Want

Before you go to the dealership, make sure you know exactly what you want. You don't want to waste your time travelling to a dealership and searching through their inventory only to find out they don't have what you're looking for!

Trucks are now manufactured in a variety of sizes and for a variety of functions. The core concept — a powerful engine, a spacious cabin, and an exposed bed — applies to all of them.

Compact trucks are the cheaper and smallest pickup truck options. Full-sized trucks are built for industry; thus, they are larger and higher off the ground than small trucks. Finally, heavy-duty trucks (sometimes known by specific numbers such as 2500 and 3500) are designed for significant operations such as pulling fifth-wheel trailers and trucking hefty trucks.

Once you've decided on your requirements, start compiling a list of trucks. You must also select the category of the truck you desire. You must read the reviews and ratings of the vehicle you intend to purchase. Following are the category of the different types available in the truck market:

  1. Mini Trucks
  2. Cargo Trucks
  3. Dumper Trucks
  4. Heavy Trucks
  5. Electric Trucks
  6. Pickup Trucks
  7. Small Trucks
  8. Trailer Trucks

2. Budget

This point cannot be oversimplified: be prepared for this purchase! Even if they are used, trucks are pricey.

Used automobiles in India are available at a variety of prices. A secondhand truck might cost as less as Rs 50,000 or as much as Rs 50 lakh or more. Set your maximum spending limit and take in mind the additional expenditures of acquiring a truck, such as a vehicle registration, insurance, maintenance work, and general truck.

Calculate the total cost of ownership

TCO is calculated by adding the purchase price to the ownership costs (tyres, fluid and lubrication changes, maintenance/repairs/part replacements, insurance) and deducting the resale value. As previously said, researching a vehicle's condition and history can assist predict when and where problems will develop, as well as the usual cost of maintenance, services, and repairs. Remember that after 7,00,000 miles, a truck will require a comprehensive engine overhaul.

Estimating and creating an acceptable TCO that is appropriate for your financial condition would provide specific criteria for evaluating used commercial vehicles such as trucks and vans.

3. Online / Dealer

When purchasing a used truck, always look for a reputable seller that is willing to consider your options and budget when dealing with a used truck.

It is important to know the seller's background to trust him or her and to determine the validity of the automobile you are about to acquire.

Used automobile dealerships may now be found in practically every city and state in India. You can identify the best dealer in town by asking around or comparing dealers online. Finding reputable vendors online is a relatively simple approach. Simply shortlist a few popular used truck dealers and evaluate available options, cost, service, and customer reviews before deciding on one.

4. Finance option

Affordability is a critical consideration when purchasing secondhand trucks. To address this issue, a few banks and NBFCs provide financing for the purchase of used trucks. This financing and loan amount are determined by the buyer's paying capacity, previous CIBIL score, truck age and condition, and other factors.

5. Vehicle's History

After you've gone over all of your alternatives and limited your search, it's time to look through the vehicle's health report. Check to see what kind of maintenance or repairs it has had. Check to see if the vehicle has ever been in an accident. When purchasing a secondhand truck in India, it is best to avoid purchasing a vehicle that has been in an accident. The inspection can be done at their location, but many dealerships now provide home test drives. Examine the truck's outside and inside thoroughly.

Keep an eye out for warning signals such as:

  • Repainting on the body
  • Examine for oil leaks and other symptoms of wear and tear
  • Start the automobile and run the engine to see if any black smoke or oil spouts are coming from the exhaust.
  • Check the electrical components as well, such as the lights, windshield wipers, horn, and dashboard lights.

6: Take a Test Drive

A test drive will provide you with a detailed picture of the condition of your shortlisted used truck. Take the truck on a trip on various sorts of roads, covering at least four to five kilometres.

While driving, you should inspect:

  • The brakes and clutches.
  • Check that the speedometer and distance recorder are both operational.

Note- If there is a vibration in the steering could signify major engine problems.

After you have checked the truck to your satisfaction, the next vital step is to check the truck's paperwork.

  • Ensure that the registration document matches the truck's chassis number.
  • Then, check to see if the insurance is still valid.
  • Check the No Claim Bonus, which is given by the insurance company if the vehicle does not make any insurance claims.
  • The NCB indicates that the vehicle has been accident-free, and it can also be transferred to the next owner of the vehicle.
  • Check the service book for a record of repairs and maintenance performed on the vehicle. You can also submit forms to the RTO.

Transfer of Ownership

When an automobile is sold, ownership is transferred. The prior owner of the vehicle must notify the RTO, where the vehicle was first registered. This process must be started within 14 days, along with a letter of intent and the new owner's information.

  1. Take Off

When you have completed the following procedures, it is time to buy and become a proud truck owner. You can now drive to your house or wherever the road takes you.

Documents that need to be checked:

For Non-Commercial Purpose

  • Ownership Transfer
  • Hypothecation Addition/Hypothecation Deletion
  • Non-Objection Certificate - NOC
  • Registration certificate - RC
  • Insurance
  • PUC (Pollution Under Control) Certificate

For Commercial Purpose

  • National Permit/ Local Permit
  • Fitness certificate
  • Road Tax (Yearly/Half yearly/Quarterly)

Things to Consider Before Purchasing a Truck, keep the following items in mind, especially if purchasing a secondhand truck.

  1. Engine Examination
  2. Inspection of Brakes
  3. Examine the Suspension
  4. Examine the Tires
  5. Battery Examination

Used trucks are always a better value than new truck models, which depreciate quickly after purchase. Used trucks are a good investment. Furthermore, used automobiles are less expensive and provide luxury models at a reasonable price. If you want to buy a used truck, follow the steps above to get the truck of your dreams at a reasonable price.

CMV360 always keeps you up to date on the latest government schemes, sales reports, and other relevant news. So, if you're looking for a platform where you can get relevant information about commercial vehicles, this is the place to be. Stay tuned for new updates.

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