Buying a car in India is no longer considered a “luxury” thanks to the prosperous economy status in the country. While purchasing a new car is a different experience, there are a lot of advantages to buying a used car in India. From significant savings to low maintenance, Here are seven benefits that come along with buying a used car in India.
Great for the Environment
At first, one might think that an older car would be more harmful to the environment, but it is the total opposite. A car produces a quarter of its life-cycle carbon dioxide emissions in the first few years. These are emissions significantly reduced from the 3rd year of use, which is also about the age when the car sold as a pre-owned vehicle. When compared to hybrid cars, a used car is a lot more environmentally friendly because it doesn’t use batteries that leave behind acid and toxic waste when used in a car.
When you buy a used car, you are most likely to get a part of the manufacturer’s warranty that was initially available when the vehicle was first purchased. This warranty can be used for small repairs and component replacement for practically no cost. If there is no manufacturer’s warranty, buyers can opt for new warranties that will cover the car and other genuine parts. These warranties can be customized as per the buyer’s requirements, which makes buying a used car so much more worth it.
Inspected and Certified
Most people believe that used cars have something wrong with them and that is why they are sold for cheaper. But with the rising growth of pre-owned vehicles in the country, this concept could not be further from the truth. Today, most of the top automobile manufacturers have their certified vehicle dealership that not only sells used cars but ensures that every vehicle is checked before it can be sold. Used cars are now inspected very thoroughly before they can be put on the market for purchase. Everything from the headlamps to the taillights is checked and tested for any faulty components so that it can either be replaced or repaired.
When a person buys a second-hand car, the first thing they look to do is customize it so that it looks and performs better. Fortunately, customization is a lot more affordable on a used car than it is for a new one as the parts can be found easily, and repair work is down to a minimum. Because of the older nature of the car, customized parts are a lot cheaper and readily available for practically any model today.
No Hidden Costs
Shipping charges and destination charges are just some of the hidden costs you might fade when buying a new car. These advertising tactics are usually pounced on by interested buyers and automobile enthusiasts. On the other hand, a used car does not have any such hidden costs apart from the price tag it holds. There are no added costs to the final price, so you can always have your budget ready and set.
A car depreciates quicker in the first two years after its purchase and then evens out after the third year of use. From the moment a new vehicle is driven out of the dealership, its value falls by about 10%, and that number goes to about 20% with in the first year. This makes buying a used car even more convenient as you can always rely on getting back the value for your money once you decide on reselling the vehicle. There may also be some rare cases where the car’s value increases over time rather than decreases. You can always count on getting a higher used car valuation when choosing a vehicle that is about 3-5 years old but anything more senior, and you could end up spending more on repairs than you initially planned on.
On average, a car owner changes his vehicle every 4-6 years, which means you could potentially buy a 4-year-old car for practically half the price of a new one. After a car starts depreciating over the first three years of ownership, it immediately becomes about 40-50 percent of its original price point. This means if you are interested in buying a car that is worth Rs 10 lakh when it’s new, you can comfortably get your hands on the same model for around Rs 4-5 lakh after just three years of use. This means that the budget you set for a new entry-level car can get you a second-hand car premium model.
Used cars are now the biggest market in India in the automobile industry and are allowing practically anyone to enjoy the convenience of owning a car. Whether you’re buying second hand cars in Indore or Mumbai, the advantages outweigh the negatives and make choosing them far easier.