Used Car Vs New Car: Buying A Used Is A Smart Choice! And Economical
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Used Car Vs New Car: Buying A Used Is A Smart Choice! And Economical Too

Indian Car Market
Est. Reading Time:
4 mins

Used Car Vs New Car: Buying A Used Is A Smart Choice! And Economical Too

A car is still a dream for many in a country like India, the number of first time car buyers skyrocketed in the last decade and a half, thanks to the increase in per-capita income of the masses, easy car buying process and a handful of options for car loans.  

Buying a car is a big decision as it is one of the most expensive investments to make. An average individual does his research on the internet, test drives different makes and models of cars; some even consult friends and family to help them make the best decision when buying a car.

The mindset of car buyers in India is changing with the growth of the organized pre-owned car industry. These days it is easy to find a used car as a good as a new car in terms of condition. The demand for a certified pre-owned car has been a rise; these cars usually come with a 1-year warranty and a 14-day moneyback guarantee in case the buyer is not satisfied with the purchase. The price tag of both used and certified preowned is cheaper than buying a new car. Buying a brand new is a great feeling but doesn’t necessarily make financial sense at times. A well maintained used car could save lakhs of money and the deprecation is much much lower than a new car.

In the good old days, it was a hassle to look for a good used car through a local dealer or classified as the entire process would take anywhere between a week, a month or a few months too. The used car buyers were not quite sure about the condition of the car, the service history, the paperwork for transfer of ownership and most importantly trust! – the question always remained “ Am I buying the car from a trustworthy person?

Times are changing, you can choose from a wide range of well-maintained used cars of different makes and models; you could drive them away almost instantly! And all major used car sellers in the country provide car loans too.

Reasons to choose a used car over a brand new car: Benefits Of Buying A Used Car!

1. Depreciation of used car is much lower than a new car:

The depreciation of a new car priced around 10 lakhs will be anywhere between 20-25 percent the moment you drive the car out of the dealership and clock a few hundred kilometers on the ODO. The percentage of depreciation or the rate of depreciation for a used car is much lower than a brand new car because the primary depreciation of around 20-25 percent is already deducted when its sold. It is indeed a smart move to opt for a used car if you’re feeling the pinch and consider it a burden paying the EMI’s month on month. With manufacturers launching new cars, face-lifts, limited editions every few months, the consumers are constantly upgrading to newer cars selling their old cars within a year of purchase.

On the other hand, we have people selling their cars as early as 6 months unable to pay the loan amount; all you have to do is to browse through our website to find a pre-owned car as good a new for cheap.

2. Cost-efficient safety & luxury as good as a new car :

Most cars produced in the last 5 years have standard safety features like airbags, ABS, and reverse parking sensors which are the primary things a consumer needs in his or her car. When it comes to the interiors these cars have a decent music system with USB, Bluetooth, and AUX connectivity. If you’re lucky you might also find a used car with additional accessories such as an amplifier, sub-woofers, leather seats, reverse camera, touch-screen infotainment installed by the owner. Why spend more when you can avail the features of a new car in a good condition pre-owned car.

3. Insurance cost is cheaper than a new car:

One of the main benefits of a used car is cheaper insurance costs, the premium amount of insurance reduces with the age of the car. The premium is calculated in accordance with the depreciation of the car when you sell or buy a car. The premium amount of the insurance is recalculated during the transfer of ownership which results in cheaper car insurance.

4. Best choice for Learner Drivers:

Used cars are undoubtedly the best choice for a learner driver or a beginner.  A few scratches or dent is quite common when you begin to start driving and it wise to go buy a new car once you’re thorough with driving and confident to take on the crowded Indian roads.

India’s used car market has shown stable growth than the new car market. According to the Economic Times report, the second-hand car industry is grown from 1.6 million units in 2011 to3.3 million units in 2018 and growing.

CARS24 the pioneers in streamlining the used car industry provides end to end professional services for both buying and selling used cars. You could buy a good condition used car for a very reasonable price from CARS24.com or their branches situated in Gurgaon, Delhi, Chandigarh, Pune, Ahmedabad and Noida.

For selling used cars, CARS24 is present in close to 60 major cities in India which include Delhi-NCR, Mumbai, Bangalore, Chennai, Kolkata, Kochi to name a few. Used car buyers now understand the benefits of buying and selling a car through an organized player like CARS24 where each and every car undergoes a strict 150 point inspection with ease of paperwork, RC transfer and an instant payment with an hour.

If you’re looking to sell used car or had difficulties finding a buyer when you sold your previous car, it’s time to try CARS24 for a hassle-free car selling experience within 1 hour with an instant payment transferred to your bank account. You can also buy used car which has been thoroughly inspected with a moneyback guarantee from CARS24.