With the overall rise in the standard of living, the auto industry has experienced tremendous growth over the last few years. New cars are getting costlier each day rendering them unaffordable for a common man to purchase a car model. Astoundingly, the average life of a car is reducing despite the increased price and is great news for people looking for cheaper alternatives. Various online automobile marketplace and offline dealers’ offer these performance-based used cars at a great price. From entry-level hotshot Renault Kwid to a banger SUV – Hyundai Creta, everything can fall within your budget if you opt for a used car.
While you might hear people around you, being reluctant towards buying a used car or advising against it, here are 4 reasons why buying a used car is way more beneficial than investing in a new one.
- Depreciation: The moment a new car model steps out of the showroom, it loses 20-30% of its original price that was paid. Within the first three years, cars lose up to 50% of its original value. A newly bought car has a terrible depreciation rate as compared to a used one which makes it heart wrenching. Buying a new car is indeed a bad idea unless you are opting for some outstanding exceptions available. Though warranties, low financing and free maintenance
tomake the car worth taking a splurge on, depreciation takes all these factors down by itself.
- Better Value: Suppose you have a budget of INR 3 lakhs. Instead of buying a used car, you decide to buy a new entry-level Renault Kwid which is priced at INR 2.79 lakhs. Had you opted for a used Renault Kwid, you would have got a certified flagship model (1.0 Marvel Captain America Edition) within INR 3 lakhs. Also, as mentioned above, you won’t be worried about depreciation.
- Certification: Long gone is the time when you used to rely on verbal assurance from the dealers, salesman or private owners. With the establishment of the automobile marketplace, certification is at your fingertips. The website has certified car models which depict their preferred models which you should buy to get the best value.
- Valuation Tool: No more inflated amounts. No more brass rings with regards to price and pesky processes. Get step by step assistance for buying a used car with the help of Droom.in. It is one of the largest automobile portals. It offers purchasing solutions for both new and used cars. The website also has used car valuation tool that provides an appropriate valuation. By taking into account the car’s brands, model, year of manufacture, variant and kilometres driven, the tool gives you an accurate estimation of the vehicle’s price.
A used car for many reasons makes more sense than a new car. Preferably for the first time buyers, or people looking to upgrade from two-wheelers or public transport, buying a used car is the best option ahead of investing in a new car.