Inspection, test drive, loans: What you need to know about buying a pre-owned car

 

Whether you are searching for a particular model or buying a pre-owned car to save money, getting the best value requires careful consideration. To help with this, reputable pre-owned car dealerships, who’ll be at The Car Expo on Oct 5 and 6, share key things to look out for.  

When buying a pre-owned car, one of the first things to assess is the vehicle’s condition. Several factors such as mileage, servicing history, and accident records can help buyers make informed decisions, says Mr Marcus Heng, assistant sales manager at Car Choice Singapore.

“These details can influence the resale value of the car. Being aware of these can impact the long-term cost of ownership,” he explains, pointing to the potential for future repair costs if these aspects are overlooked.

Jet E Motor Trading’s sales manager Nigel Lim stresses the importance of a thorough inspection, inside and out.

 

“Buyers should carefully examine the vehicle’s exterior and interior and pay attention to crucial components like the battery and brake pads,” he says. Mr Lim also advises requesting a professional inspection certificate to ensure the car is in good working order.

Mr Wilson Lau, sales manager at Motor-East that specialises in retailing pre-owned luxury rides, highlights the importance of stringent quality checks. “Our in-house purchasers have years of experience procuring pre-owned vehicles. With our workshop’s thorough checks and necessary repairs, we can assure the quality and reliability of our cars,” he says.

At GOwheeler, a pre-owned dealership with strong reviews on Google and Facebook, the focus is on “dual inspections”. Director Jeremy Goh describes the process: “Our purchaser first conducts a thorough viewing and testing of the vehicle to ensure there are no major issues. Before it’s listed for sale, the car goes through a workshop check and any required repairs.”

Despite the two internal rounds of checks, Mr Goh is still open to potential buyers seeking third-party inspections.

“We welcome this arrangement as we have full confidence in the condition of our vehicles,” he says, adding that while the car’s history is important, the current condition is what truly matters. Buyers need to feel assured about their impending purchase, and thorough inspections are key to that peace of mind.

According to vehicle evaluation company Impact Analysis Evaluation Centre, a comprehensive check is crucial for potential buyers to make informed decisions. 

Using 3D vehicle-scanning services, it can detect hidden damage and repair traces in just 10 minutes, thus providing buyers greater transparency and confidence when assessing the pre-purchase condition of a vehicle.

Taking a test drive is a crucial step when purchasing a pre-owned car. It not only helps you gauge the car’s overall condition, but also provides insights into its handling, acceleration, and braking performance. Dealerships consistently advise buyers to pay close attention to how the car behaves during various driving conditions, especially when accelerating and cornering.

Mr Michael Lim, CEO of Motorway Group, emphasises the importance of this process. “Assess the car’s acceleration, braking, and handling, in particular. Also, listen for unusual noises,” he says, noting that these could be early signs of underlying mechanical issues.

Mr Goh from GOwheeler agrees, adding that test drives give potential buyers the chance to detect “any weird sounds from the engine or suspension” as well as assess “the smoothness of the gear change”.

He also offers a practical tip: Don’t forget to test the electronics. “Fiddle with all the controls – even something as simple as opening and closing the windows or adjusting the side mirrors,” he says. “And definitely check if the air-conditioning is working.”

A comprehensive test drive helps ensure that your potential purchase meets your expectations and uncovers any issues that could affect the car’s performance or comfort down the road.

When buying a pre-owned car, after-sales services like warranties and extra perks can offer valuable peace of mind and enhance the overall ownership experience. Many reputable dealerships go the extra mile to ensure buyers feel supported long after they drive out of the showroom. 

Supreme Cars, a dealership known for its extensive vehicle selection, includes a 12-month engine and transmission warranty to provide further assurance to the clients, reflecting its commitment to making the car-buying process smooth and reliable.

Similarly, Inchcape Certified Pre-Owned offers an extensive one-year extended warranty. It also provides 24-hour roadside assistance and a dedicated after-sales team ready to assist customers with any queries.

Inchcape’s director of sales and distribution Eric Tong says: “Our expert technicians meticulously assess each car, from the engine to the interior, ensuring our unwavering commitment to excellence and unmatched reliability in every pre-owned vehicle.”

For those in the market for luxury or exotic cars, Motorway offers not just the car but additional perks, including the option for unique number plates. Motor-East, another dealership specialising in high-end cars, goes a step further by offering a loyalty programme, referral rewards, and exclusive discounts, alongside standard warranties.

These extra benefits ensure that your investment is protected and that you continue to receive value long after your purchase.

When purchasing a pre-owned car, financing terms can significantly affect your budget and financial flexibility. Understanding loan options, interest rates, and repayment plans is essential to making a sound financial decision.

At Cosmo Automobiles, buyers are encouraged to look beyond the basic interest rates and consider how their credit history might influence these rates. Its managing director, Mr Eugene Chng, stresses the importance of thorough research.

“Do not just focus on the size of your monthly payment or the overall price of the car. Otherwise, you can be fooled into paying way more than the car is worth,” he says. “Do your research on interest rates and what you can expect based on your credit.”

In addition to doing research on interest rates, it is also crucial to fully understand your loan agreement, as there could be hidden fees that add to the overall cost.

Car ownership is ultimately a significant financial commitment, and it is important to factor in all related costs. Mr Lim from Motorway advises buyers to evaluate their overall financial situation before committing to a purchase.

“Consider your monthly income, expenses, and the savings you have,” he says. “Take into account the total cost of ownership, and calculate how much you can comfortably afford to spend on a car.”

Choosing a reputable dealer for a pre-owned car minimises risks and ensures reliable after-sales support. A trustworthy dealer offers confidence, backing your purchase with expertise and quality service.

Motor-East, with over 28 years of experience, has built a solid reputation for its after-sales service. It is also one of the few dealerships accredited by CaseTrust and the Singapore Vehicle Traders Association.

“We are known for our excellent customer service, a solid track record of professionalism,” says Mr Lau.

Meanwhile, Inchcape Certified Pre-Owned, though a newer  player in the market, has quickly earned consumer trust. The dealership boasts top ratings on Google, with numerous positive reviews. “Hundreds of customer reviews attest to our quality and reliability as an authorised dealership,” says Mr Tong.

Ultimately, buying a pre-owned car requires careful consideration of factors like vehicle condition, warranties, financing options and dealer reputation. With careful research and due diligence, you can find a car that meets your needs and ensures a satisfying ownership experience.