The auto industry is changing quickly and car prices are rising. So, to say, new cars are becoming expensive each year, making them costly purchase for the common man. And rather ironically, the average life time of a car is reducing despite the constant rise in prices, which brings in nice and good news for used car buyers! Thanks to manufacturers whose launching of newer versions of their car models are now allowing new cars to enter the used car market, which is making it easy for you to buy a good new car without having to bust your wallet.
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Buying a used car makes more sense for first time buyers wanting to upgrade from public transportation or two-wheeler s and the reasons mentioning the reasons are here-
Upgrade As Well As Save Money
A new car, straight out of a showroom, loses 8-10% of its purchase price as soon as it hits the road. Going for a second-hand purchase means you have to pay very less as compared to the original car value which means you can actually end up saving some serious money.
Consider this example of a Maruti Suzuki Swift LXI, costing approximately Rs 5, 28,057 on road in Delhi. Now, if we consider the depreciation, the same car model one year old roughly driven 12,000 km, can be yours for only Rs 4,15,000/- and if you buy the same car from a dealership, the same car will cost you Rs 3,85,000/-. The difference is clearly in front of you of opting for a used car.
Why stop now? In case you possess a specified budget in your mind, you can even choose a slightly older car model falling within your stipulated budget.
Drive Tension Free
A used car makes you drive tension-free, without the hassle of getting first scratch or dent, something only a new car can experience . You can even go for longer journeys in used cars as soon as you buy the used car, however getting the first service or inspection done of a new car is necessary before taking it out for longer trips.
Suppose you have just bought a new Honda City and the very second day you have to travel to a congested area because of your work. Considering the risk of getting scratches or dents, chances are for you to avoid taking your new car and probably using a public transportation instead. Now, consider your buying a used car. Now, you won’t hesitate taking your car through narrow lanes.
Get Used Cars with Warranty
Now, you don’t only have to depend on just the verbal assurance of a dealer, car salesman, or an individual about the condition of used car being perfectly fit and fine. You can now get certification. You can easily check the certifications online which are given after thoroughly checking the cars by a certified car engineer. Not just this, you can get post purchase-warranty for you to ensure that your purchased used car runs like a new one!
Slower Depreciation Makes You Lose Less Money
Every car depreciates but a used car depreciates lesser than the new one. Let’s look at an example, Depreciation of a vehicle is the most during the first three years of purchase. When you buy a used car, you obviously are purchasing it at a price which has already been depreciated majorly.
Cost of getting your used car insured is way lesser than a new car. The various clauses and additional taxes make insurance of a new car quite expensive.
If we consider the insurance of a new Maruti Suzuki, it’s insurance will cost about Rs 17,689/- considering a new purchase. Whereas, getting the insurance done of one year old Maruti Suzuki which has covered 12,0000 km only will be around Rs 11,000/- which means saving more than Rs 6,000/-. You may even get a used car which is already insured which will save you the effort of buying additional insurance.
With considerable savings along with the warranty, you can now get almost all the benefits in a used car that you expect in a new car. Even if you wish and desire to sell your used car in the future, it won’t hamper your wallet much because you would end up losing way lesser money than selling a new car. Especially for the first timers, a used purchase is not only affordable but also more practical at the same time. Now do not think twice and go ahead and buy a used car.