Rapidly evolving technology has greatly increased the prices of new cars. This trend just does not seem to end. Used cars can do everything that new cars offer and more. Here are six reasons that make investing in used cars, sensible.
GaadiBazaar, an initiative by Chola, is a trusted online platform that helps you buy and sell used vehicles at the best price in an easy, hassle-free manner. It is the perfect platform for customers looking to buy/sell used passenger and commercial vehicles.
- Cheaper Alternatives
There is no questioning the fact that second-hand, or used or pre-used cars are much cheaper than new cars. This serves as the biggest factor for you to invest in one. A new car costing you about 10 lakhs can be found in the used car market for about half the price, say 5 lakhs! Impressive right? To add on, new car owners must take on the burden of road tax and registration fees, which used car owners are exempted from.
- Gives You A No Tension Ride
Driving a new car can be stressful, considering you must maintain it in perfect condition. A scratch or a dent – oops! it hurts every rupee spent! Whereas, used cars cost you less! A scratch or a dent, you won’t feel so bad. Learning how to drive? driving in congested areas often? Investing in used cars now makes much sense.
- Appreciate The Depreciation
Did you know that your new car loses half its value in one year of purchase? For the majority, your tires might not even need a change by then! But with used cars, the depreciation value decreases slowly. If you consider selling your used car as a second seller, you will not lose as much money as the first seller.
- Mend & Enjoy
It is not necessary that all used cars are rusty, with huge dents or peeling paints. If you can spend your time in the used car market, you can get a used car that looks stunning with not much wear and tear. Combine this with good maintenance, you can ride a used car that can both look and feel like a brand-new car.
- Cheaper Insurance
Used car insurance is much cheaper than new car insurance as the Insured Declared Value (IDV) or used car market value is lower due to depreciation. Another benefit is, if you can find a used car that already has insurance against it, you just need to transfer the insurance, rather than pay the amount.
- Certification & Warranty
With regards to used cars, approaching the right dealer can save you both money and time. Certified dealers like Gaadi Bazaar sell only 100% certified vehicles. All cars are inspected and checked against before certification, making them suitable for buy. Used cars may also come with full/partial/extended warranty. This gives you assurance for any engine damage, which will be taken care of by the car manufacturer.