Think you know it all about used cars? Buyers and sellers are well furnished with details about what to expect in the used car market. Yet, you would not have heard about most of these following facts.
These facts are not only intriguing and surprising but will keep you well informed while buying used cars.
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- The Lighter The Better
Did you ever try to guess why there are more lighter colour cars on the road than darker coloured cars? Lighter coloured paints do not give away small scratches, scrapes or dents easily. Lighter coloured cars also do not highlight dust the way darker coloured cars highlight dust. Studies show that 46% of used cars in India are white. The next closest colour is silver. So, remember the lighter the colour the more its demand!
- Used Car Market Is Bigger Than New Car Market
Close to 50-lakh used cars are sold in India every year as per a Times of India Article. Going by numbers, used cars sold a year is greater than new cars sold the same year. So, if you think buying new cars is the only option, this stat should help you think twice, cause majority of buyers prefer used cars.
- Odometer Tampering Is Much Common Than You Think
Odometer gives the number of kilometres run by a car since it was first bought. This plays a major factor in deciding on the value of the used car. But sadly, these readings get tampered by some sellers. To ensure you don’t get cheated, cross check the odometer reading with the service records.
- Preferred Fuel Type
The Indian market has been in favour of the petrol engine due to its extended durability. More petrol cars are sold in India than diesel cars. But when it comes to used cars, diesel engine cars come with a higher resale value. Diesel engines are quieter and are more affordable than petrol engines. Due to lower depreciation rates, the demand of diesel cars are higher in the used market.
- Preferred Car Model
The popularity of a car model in the used car market directly affects its resale value. Apart from performance and handling, the popularity of a car also depends on external factors such as service centre availability, spare parts availability and maintenance costs. A car model which ticks off on all the factors affecting popularity has a high resale value.
- Preferred Price Range
Used car market has been blooming due to its lower cost. The price range depends from manufacturer to manufacturer. Majority of Indians prefer to buy Maruti Suzuki used cars between 2 and 5 lakhs says auto.economic times. When it comes to Mahindra, the preference is for used cars between 2 to 7 lakhs.
- Air Bags – Your Cheat To Identify Accident History
Check the air bags when you inspect a used car. Majority of the sellers never replace air bags which have been deployed due to an accident. Though they may coverup the body works and paint scratches, it is likely they wouldn’t have replaced the air bags. You must look at these to ensure safety of the car.
- Car History – Difficult To Get
Though you can go through the service records and investigate about the car, some sellers hide some incidents about the car under the carpet. What happens to the body works done in a local workshop? A car that has had all its service and maintenance done in manufacturer’s service centres always have a higher resale value.