A car is not only seen as a status symbol in the Indian society, it is also an asset that can be converted into liquid cash few years down the line. Car’s resale value is an important factor that should be considered while making your purchase decision.
A car with higher resale value can fetch as much as 20-30% extra over another model from the same segment.
This can also help you recover a better amount when you sell your car and the same can be used as down payment for your next set of wheels. Here are a few factors that need to be considered while picking up your preference
Popular Models With The Best Resale Value
Stick to popular models in a segment. A best seller in the new car industry will also be in high demand in the used car market. For example, the Maruti Suzuki Swift is an evergreen option – you simply cannot go wrong with this car. It has a discount in the new car market and yet has the highest demand in the used car market (premium hatch segment) as well.
Popular Versions With The Best Resale Value
Every car model has over half a dozen trim levels or variants as we know them. While Indians have a preference for features and hence when it comes to mass segment options, a mid-level version is a safe bet. For example, in the case of the Maruti DZire, the VDI or VXI variants are the ones to go for. But for premium options, you can pick the highest variants. For instance, the SX or SX(O) option for the Hyundai Creta is fast moving and always in demand.
Popular Colours With The Best Resale Value
An analysis done by us here at CARS24 shows that white and silver make up for 48.3% of the total cars that we purchased in 2016. If you love brighter shades, variants of red can also be picked.
So which are the popular models in India with highest resale value? To make things simpler, we have divided new cars into various categories and picked a winner or two in each segment. Have a look!
- Entry Level Hatchbacks: Maruti Alto twins (800 and K10), Renault Kwid
- Mid-size Hatchbacks: Maruti WagonR
- Premium Hatchbacks: Maruti Swift, Maruti Baleno
- Entry Level Sedans: Maruti Dzire
- Mid-size Sedan: Maruti Ciaz or Honda City
- Small SUVs: Maruti Brezza, Hyundai Creta
- Family MPVs: Toyota Innova
- Family SUVs: Mahindra XUV, Mahindra Scorpio
- Premium Sedans: Hyundai Elantra, Skoda Octavia
- Premium SUVs: Toyota Fortuner
The popular car models with best resale value will not only fetch you a higher resale price than other used cars in the same segment, but they are also easy to sell as their demand is always high in the used car market. You will spend less time finding a good buyer and this will reduce your headache while selling your car.
Trust us, it is a tough task selling some of the lesser popular models which can end up being parked at some dealership for months!
Also, if you are planning on selling your car, it would be good to know your car’s worth through a reliable car valuation tool.