4 Tips On How To Buy A Used Car In India
Purchasing a car is always a matter of pride and an indication of your social status in society. However, this is usually the case when we end up investing in a brand-new car. Purchasing a used car is still not seen as an acceptable norm in India, but we beg to differ. However, when you want to buy a Used Car, it has its own set of benefits.
With the used car industry fast becoming organized, purchasing a pre-owned car is now a hassle-free experience in most cases. So, if you are in the market for purchasing a car, you might want to have a look at used options for these valid 4 reasons:
It is no rocket science that a used car is cheaper to purchase. But more than this, a well-kept used car is better value for money than a new one. For example, if a brand-new sedan costs Rs 8 lakh (on-road), you can buy a well-kept, less used, and few months old model of the same car for about 6-7 lakh, thus getting more value for your money. This is true for any given car in India.
Likewise, if you are on a tight budget, you will have more options to buy among used cars than new ones. For example, if you have Rs 2 lakh to spare, the only new car you can buy is a base model of the Tata Nano. On the other side, the same money can fetch you options like the Alto, Wagon R, i10, and so on!
Upgrade In Life
This point is in continuation to the first one. Let’s take a perfect example of a middle-class family person who wants a bigger car for his expanding family. In a budget of Rs. 5 lakh for new cars, he can probably look at the Hyundai Grand i10 or the soon to be launched Tata Tigor. On the other side, in the same amount of money, he can happily purchase used models of the Maruti Dzire, the Hyundai Verna, or even the old Honda City. These cars are definitely segmenting above cars like the Grand i10 or the Tigor. Bigger cars offer more comfort, better features, increased safety, and of course a higher social status.
Depreciation Is Taken Care Of
This is a fact that most buyers aren’t aware of. Every car has a depreciation value attached it to. You drive out of a new car showroom and the car’s value goes down from day number one! Most cars see a depreciation of 25-30% in the first year and another 10-15% in the second year. This means if you sell an 8 lakh rupee car after 3 years, be ready to bear a loss of 4 lakh.
On the other hand, if you purchase a similar car from the used car market and sell it off after 3 years, you will be losing about half the money only. This is because when you buy a used car, the first owner has already absorbed the depreciation amount. Sounds nice?
Peace Of Mind
One of the biggest apprehensions in the mind of used car buyers has been about the car’s questionable reliability. However, modern-day engineering has made cars very reliable. Further, the warranty periods have increased and most owners end up purchasing ‘extended warranty in the first place. This means if you are buying a used car which is 1-3 years old, you don’t have to worry about its reliability.
Where To Buy A Used Car?
OVX India is one of India’s Largest Upcoming Online Marketplace where you can find almost anything. Just Log on to OVX India and under categories, search for Cars after providing a location. The page takes you to a place where a list of vendors willing to sell their cars is shown. Choose out the options that best suits you. Also, keep what we’ve discussed in mind.
If you liked this article, check out another cool article on, How To Buy An SUV.