Both the new cars and used cars have their own merits and demerits
The used car market is flourishing at an unprecedented pace in India
Depreciation is the foremost factor to be considered before buying a car
Car buying is a tough decision. Very tough in fact, considering the enormous choices that we have around us. Moreover, the biggest dilemma that an individual faces in present times is whether he/she should consider a new car or a used car. Needless to say, both the new cars and used cars have their own merits and demerits. But, one thing that has really surprised everyone inside out is the pace at which the used car market is flourishing and some pundits have even predicted that soon it will leave behind the new car market in India. So, here in this piece of DDA (Droom Discovery Advisory), we will try to help you in your car buying decision by listing some general points about used cars and new cars.
When it comes to buying a car, there is always an emotional connect of the individual with the vehicle. Some want a brand new glittering car as their ride while some people tend to opt for a pre-owned car due to the value-for-money quotient involved with it. In simpler words, you can own a used car in a segment two times higher than your budget for a new car. For instance, you can be the owner of a well maintained pre-owned Hyundai Creta in the budget of a new Hyundai Venue. But, you must go to certified dealers for buying a used car with thorough inspection of the vehicle and the documents. There are several pre-owned car platforms such as Maruti True Value, Mahindra First Choice & Droom to name a few.
Whenever you wish to buy a car, the utmost priority is peace of mind. If I am not wrong here, the majority of people want their car with bumper to bumper warranty cover because in case of an untoward incident, the manufacturer and insurance company will take care of everything. This is the biggest reason people prefer to buy a new car over a used car. Furthermore, A new car is relatively easy on pocket in terms of maintenance and cost of ownership as compared to an used car as several integral components such as engine, transmission and tyres are fresh and unused. So, during the initial years of ownership, the new car will require minimum visits to the service centres as compared to the used car.
The primary reason that propels a buyer to go for a used car in place of a new car is depreciation. Every new car after one year of usage witnesses a depreciation of 60 percent of its original value. So, if you come across a year old used car which is as good as a new car and you can own it by paying 60 percent of the new car price, then there cannot be a better deal than this. Hence, as you can understand from the points written above that it is indeed a tricky decision to choose between a new and used car but if you are fully aware of both the markets and take the aforementioned points into consideration before making the final choice, then we are sure that you will choose the best for yourself which you will cherish lifelong.
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