Though the idea of buying a new car may seem enticing, higher costs, a quick rate of depreciation, and greater insurance do not make them a wise option for common people with a limited budget. A second hand car makes more sense for people who are going to buy a second set of wheels or those upgrading from public transportation or two-wheelers. Also, if you are willing to manage your budget wisely, picking a used car would be a smart decision. With the second hand car industry fast becoming organised, buying a used car is now a stress-free experience in most cases. Mentioned below are a few key benefits of buying used cars in Lucknow, Delhi, Mumbai, or any other city:
Low Depreciation Rate
A new car depreciates its value as soon as it is driven out of the outlet. The market worth of a car reduces at a quick pace during the initial years. Thus, in three years, even if you maintain your car well, its value will be reduced at least by 40%. A slightly used car would be a tempting option as someone else has already taken the major depreciation hit in the initial years. Thus, the value of a second hand car will depreciate slowly and you will lose value less quickly.
Better Price Tag
In case you have always wanted to buy a certain premium car but could not purchase it due to high costs, choosing a second hand car can help you fulfil your dream. Used cars come with a reduced price tag and provide a much better value for the sum paid. You can compare different models and brands from diverse dealerships, and choose the model as per your needs. Most automobile brands have their own authorised used car divisions, and a number of banks and financial institutions are now providing loans at lucrative rates. So, if you decide to buy a second hand car, you do not need to be concerned about high EMIs anymore.
A Huge Variety
Today, used car markets have a huge variety of cars, allowing you to choose from thousands of models and variants that have been presented over the past few years. You can be pickier about the specifications and features you want in your car, and get plenty of options to select from. Nowadays, when buying a second hand car, you can also choose to upgrade a few features according to your need; however, that would cost you extra.
Peace of Mind
One of the key benefits of buying a used car is getting the feel of driving stress-free, without any fear of getting the first scratch or dent. You can even take your car for a long drive as soon as you purchase it. However, most car owners avoid taking their new car out for a long journey before the first inspection or service. In addition, manufacturer-certified used cars normally provide an increased level of protection. Most dealership outlets allow people to buy a warranty on a second hand car as a way to get an additional layer of peace of mind.
So, these are a few key advantages of buying a used car in Lucknow, Delhi, Mumbai, Gurgaon, or any other city in India. Buying a used car will also allow you to change your car every 2-3 years.