Commuting from home to work is quite a challenge nowadays as the situation for your own health and protection is a top priority to make sure you get to work fast and safe. Buying a brand new car may not be the right option as you need to save more and spend less for the future especially if you have a kid who is going to school and also paying a house that you purchased.
The next best thing is getting a second hand car and having the car insurance you need for your peace of mind. Here are some tips on how to get the car you want and a short checklist on what to look at before purchasing.
- Check the proper documentation of the car – the term ORCR or Official Receipt of Car Registration will tell you the following details : Registered owner of the car, date and place where the car was purchased, make, brand, model, color and year of the car and serial number of the engine.
- Shuttle mortgage release from the bank – if the car was purchased under loan, if the car is still within the loan period, make sure that the payments are updated. If it’s fully paid, there will be a bank clearance as release.
- LTO clearance – the car has not been involved in any accident or has been part of any crime. Please make sure all the details in the original forms match. Should there been any modification made to the car like change of color, the first owner must have secured a change of color from the PNP.
- Documents are property notarized – an absolute Deed of Sale of Motor Vehicle must be present before consumption of the sale. If the rightful owner, or first owner is not present, there should be a Special Power of Attorney (SPA) or a previous deed of sale to that effect.
- Insurance – all motor vehicles are required to have insurance especially when the vehicle is under bank loan. Likewise, a TPL insurance or Third Party Liability is applied during the renewal of the car registration.
- Maintenance logbook – make sure that the vehicle has undergone Preventive Maintenance (PM) with the casa or car manufacturer’s service center. The last thing you want to have is engine trouble. The logbook will be stamped and marked accordingly by the proper service representative.
- Go for a long test-drive – ask a friend who is a car enthusiast or best to bring a mechanic with you during a long test drive. This will ensure that you know what you are buying if it is marked as top condition, average or needs immediate attention. From the airconditioning, lights, breaks and how the drive goes, you and your friend can determine and be able to bargain for the price as needed. Check for the interiors as well as the exteriors. A trained mechanic and a car painter will be able to know if the car has gone through a body repair just by tapping at it. This will help you determine the truthfulness of the car owner and its history.
Lastly, make sure to enrol to a comprehensive car insurance. This will protect your car not only from minor accidents, but to theft and/or total loss. Each insurance company will have its own variations in terms of price and coverage depending on the year of the car being enrolled.
One company i can recommend is MALAYAN INSURANCE who has been in the car insurance business since 1930 and has served lots of Filipinos already. You may easily get a quote online and it’s so simple. If you wish to avail R2V insurance, please send an email to csc@malayan.com or ecommerce@malayan.com
