Second hand cars have become a basic necessity in everyone’s life in today’s era. But why so? As we all know the concept of basic needs and necessities has been on the surge after the COVID-19 pandemic came into existence.
Earlier the basic needs were food, clothes, and shelter. But today, having a vehicle of our own has also added its name to this list. When buying a used car, you would often think about, “Is it good to buy second-hand car in India.” Let’s learn about this in a bit more detail.
In India, having a car, no matter if it's a used car or a brand new one, there are several advantages of a used car that can be looked at from several perspectives.
For instance, it can be a basic necessity for some while for others it can be a status symbol and for others, it can be a fantasy coming to life.
What Are Second Hand cars?
A used car, a pre-owned vehicle, a demo car, or a second hand car is a vehicle that previously had one or more than one retail owner. You must know that a used car is sold with several outlets that include franchise and independent car dealers.
There are numerous talks regarding used car vs new car. A used car is not a new car but a car that has been previously owned by someone. These cars are affordable, have lower depreciation rates, lower insurance premiums, great quality cars, they are warranted, etc.
When talking about second hand cars in the context of India, you must understand that buying an old car is cost-efficient and will require less maintenance on it. There are a lot of used cars in the Indian market, but make sure to go for the below-mentioned cars:
> Hyundai i20
> Maruti Suzuki Swift
> Maruti Suzuki Dzire
> Toyota Innova Crysta
> Honda City
> Hyundai Verna
> Honda Jazz
> Hyundai Creta
These were some of the best-used cars in India in 2023 that will provide you with the best mileage, price, and features.
Must Read:- Check Out Electric Cars in 2023: Mileage, Price, and Features.
Benefits of Buying a Used Car in India
When buying used cars in India, you must have wondered “Is it good to buy second-hand car in India?” Isn’t it? Let’s find the answer to this question by uncovering the top 10 benefits of buying a used car which is explained below:
1. Depreciates at a Moderate Rate
If you are thinking of buying a used car, then it is financially good because you know that cars go through depreciation and wear and tear as well. Hence, there always comes a question in order to find the right car so that you can save some money.
In order to save money and get the best car, it is advisable to go to the certified and best-used car dealers. The depreciation rate on used cars is less and this chiefly impacts the value of the car making it quite cost-effective when compared to the brand-new car.
When talking about used cars in India, we must know that depreciation depends on several factors. The value of the car is depreciated severely because of the wear and tear. Hence, when it comes to new cars, their value gets depreciated by 15% to 30% in a year.
2. Cheap Insurance Costs
The insurance premiums for the latest and brand-new cars are too high when compared to the pre-owned cars. Only because of this, the insurance premium is related to the car’s age.
Insurance is mandatory when buying a car. For instance, when learning car driving tips and tricks, your car gets a minor dent, then this insurance will help you to maintain it in a cost-effective manner.
This simply means that the newer the car, the higher the premium you will have to pay for the insurance. But when compared to the used cars, the insurance payment will be remarkably cheaper. This will make it more cost-effective and value for money.
3. Guaranteed Reliability
One of the most efficient ways of demonstrating one’s trust is by providing them with a warranty on the product. There are several online platforms for used car vs new car that give panoramic warranties in order to provide customers with guaranteed reliability.
Interested used car buyers get a sense of security and relief because all the future maintenance and repair costs are taken care of by these online platforms only.
If you have your driver's license, then it will surely help you to seek guaranteed reliability and warranty and ultimately you will get the car at a lower price making it affordable for the license holders.
4. Certified Used Cars
Certified used cars are a new concept for the Indians. This concept has come to publicity with the emergence of online platforms. The majority of dealers who are working offline have non-certified cars in their lineup.
A non-certified used car dealer can be anyone but a certified dealer is someone who makes sure that the condition of the car is perfectly fine by conducting several tests. Certified dealerships will be a bit more expensive than those of the offline ones.
If there is no certification, then there will not be any way to check if the car is non-accidental or not or several other things. This is considered as the negative point of not having any certification. They not only sell casual cars but also sell used sports cars to their customers.
When you buy a car directly from a used car dealer, it will eliminate the cost of the middlemen who will be associated with the sale. As a result, buying a car directly from the dealer will be cheaper but it will increase the risk of manifold because of no certification.
You must keep in mind that the certified used car dealer will have the test reports with them along with other details that will inundate confidence in the buyer especially when you purchase a brand-new car.
5. Offer good Variety With Affordability
Make sure to look for the basic features and requirements that you need in your car. Keep in mind that the selection of a car is way too important and crucial.
There are a lot of used cars present in the market and that too within your budget. Hence you need to make a wise decision.
The buying options can either be a direct owner, an offline second-hand car dealer, an online used car dealer, certified dealers, non-certified dealers, and several others.
Make sure to ask as many questions as you want to ask without any hesitation. If you know everything about the car, it will improve the chances of buying the right one.
6. Saves Money
Buying a used car saves a lot of money and is considered the most affordable way of buying a car. But when you buy it with zero knowledge, then it can make a big hole in your pocket. As a result, you must make sure to buy your car from certified car dealers.
These certified dealers have an end-to-end managed and transparent system. When it comes to the quality of the car, they have the same benefits to that of OEMs.
This is because these platforms are able to provide reliability with the help of several tests they do on the vehicle. These dealers also provide their users with a warranty against the cars they sell.
When it comes to an offline used car dealer, all these checks and inspections at a workshop or by a mechanic can cost you a lot of money. But when you seek help from a warranty-provided certified dealer, you will be able to save a lot of money.
7. Semless Financing and Favourable rates
With used cars, you will have to contemplate the high interest rates that certain banks and NBFCs offer, but make sure to compare them and select the one that suits your needs, requirements, and budget.
Good upfront payment will make sure to provide you with lower car loan interest rates that will be seamless and hassle-free for you in the long run.
If you are determined to buy second hand cars from online dealerships that have benefits of their own will help you by providing guidance on availing loans for your pre-owned car purchase.
8. Cheap Registration Fees
In India, the cost of registering the latest car is generally higher when compared to the used car. You must keep in mind that the registration fees for new cars can be up to 4 to 5 times higher than that of the used cars. It will completely depend on the state.
For instance, in Delhi, the registration fee for a new car of ₹10 Lakhs will cost up to ₹40,000 to 45,000 whereas a used car of the same value will be around ₹10,000 to ₹12,000. This difference will subsequently help you in saving money on an ongoing basis.
9. More Negotiating Power
In India, there is a big market for second hand cars and these cars are sold by them quickly. This simply means that there is a higher chance for negotiations on the rates of a used car than the price of a brand-new car.
Furthermore, there are several online platforms and dealerships that develop themselves in buying and selling second-hand cars. This will surely provide multiple benefits and options for the customers and elevate their power of negotiations.
10. Lessened Environmental Impact
India is a country of better ecosystem and biodiversity. But in recent years, we have been seeing that our country is facing a serious setback in the environmental aspects.
You must know that the manufacturing procedure for the latest cars can be resource-intensive and give rise to a remarkable amount of waste. When buying a used car, we will reduce the demand for new cars. This will promote the reuse of existing resources.
Furthermore, you must agree that there are several cities in India that are facing serious environmental degradation because of high levels of air pollution. This will also help you to get rid of the knocking sounds from your car.
As a result, buying a used car is of utmost help to environmental pollution that will provide a lower emission rating which will lessen the dangerous impact on the environment.
Final Talk
Last, but not least, make sure to decide which car is best for you and if you want to purchase it or not. Even though the cost of used cars is relatively low, they can be just as amazing as the new ones, especially for those who have a fixed and tight budget.
You must keep in mind that there are several advantages of a used car and you must leave the thought, “Is it good to buy second-hand car in India or not” as purchasing second hand cars will give you the utmost satisfaction in the globally expensive car market.
If you need additional help and information, then make sure to contact and get in touch with the best-used car dealers at Carenzy.
Frequently Asked Questions
Q. How to choose a Second Hand Car?
Ans. There are six tips for purchasing a second hand car. These steps are mentioned below:
» Make sure to have a goal and your budget in mind.
» Inspect and examine the car that you want to purchase.
» Take your car for a drive.
» Make sure to ask your dealer for the car’s history.
» Check out the documents of the car.
» Negotiate your way to a great deal.
Q. Is it good to Buy Second-Hand car as First Car?
Ans. When you choose to purchase a used car, it simply means that you will pay less than the original price of the car. But your purchase rate will be lower than the brand-new car in today’s globally competitive car market.
Q. Why do People Buy Second-Hand Cars?
Ans. People buy second hand cars because of the low registration fees. You can clock off the considerable amount of registration fees and save money when selecting to purchase a second-hand car. Not only this but used cars are also subjected to discounted taxes. Make sure that you look over the registration fees for yourself before making up your mind to purchase the car.
Q. Is it worth Buying Second-Hand Car in India?
Ans. Buying a brand-new car can make a big hole in your pocket whereas buying a second hand car saves a lot of money. If you want to buy a car for yourself, then buying a second-hand one will be the most affordable option. But always keep in mind that you have to go for a certified online used car dealer because they have end-to-end transparent and managed systems. Hence, we can say that second hand cars are worth buying in India.
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