Second hand car deals always excite me for the simple reason that one can get much more by paying a lot lesser, and after all who does not prefers paying less? It is not only me who believes in this theory, but there are a lot of people with same thinking and thus, no wonder why used car business is much popular than of new cars. However like I always say, Dealing in used car market is far trickier than buying new car, but if you hit the pot on spot, you may end up making an unregretful decision forever. If you wish to purchase your desired car under a packed budget and are ready to compromise with sense of “New” car, Scent of fresh upholstery, this is the right article for you. Read on.
What are the Benefits of Buying Used?
Like new, buying a used car has its own advantages as well as disadvantages. So, let’s firstly talk about advantages. First and foremost, a huge advantage for used car buyer over new is depreciation. Right at the moment when car is registered and steps out of the showroom, it immediately looses about 8% of its actual value. Now that you got an idea, Imagine how much a mid-sized luxury sedan which is 3-4 year old would cost? As an instance, Toyota Corolla retails at approx. Rs.10 to 11 Lakhs (On-Road), a person could easily acquire one which is about a couple of years old, considering in decent condition, at approx. Rs.5.8 Lakhs only, which is almost half of it’s actual market price during sale. Although, this is not the only criteria upon which re-sale value depends, other factors include Brand image, Condition of vehicle, Market response to vehicle, Maintenance Costs etc.
Apart from depreciation, what add to your favor are expenses such as Registration and Road Tax charges, which are supposed to be paid already and on top of that, you always have an option to haggle with seller to draw the price to a considerable margin, if he does not agrees, there’s a whole lot of such cars available in used car market. Plus, what you get is a pleasure of owning better and your much desired car.
*(Quick Tip: Mid-size sedans generally make better VFM used buy.)
What’s the Catch?
None actually, But what you always need to keep in mind is – Search, Search and Search. It could be time consuming task sometimes but the moment car is purchased, it all certainly pays off and satisfaction which you may get is bigger than anything. Remember; Never ever be inclined towards a specific car, that’s what always the major benefit of used car market – You have wide variety of same models available.
Nevertheless, a few other not-so-good factors of buying used includes absence of new car feel. A truth which can not be covered - it’s altogether always an exciting process of buying a new car when one from the tons of sparkling new model becomes yours ultimately. Also, there’s rarely any option of getting freebies while purchasing used car, and no warranty either. However, thanks to certified used car dealerships which help to make buying used car experience almost like of buying new by offering a year warranty, and other traditional new-car-like ceremonies such as formal key handover, ribbon tied on the hood etc. which makes the experience quite better.