Why purchasing a used car is better than a new car in India?
While people may be conflicted in this long-standing debate of purchasing a new car v/s a used car in India, buying a used car in India comes with more advantages than disadvantages. Used or pre-owned vehicles, as they are known nowadays, may probably lack the charm of a new car in terms of its exteriors. But it comes with its own set of pros, and with this article, you can make an informed and concrete decision of why your thought of purchasing a used car is a wise one.
Advantages of purchasing a pre-owned car
- Competent prices and lower depreciation:
When a used car is up for sale, its prices have reduced drastically. Even if it has been used for a short period, much of the depreciation is already paid for by the car's first owner. So, buying a pre-owned vehicle is an excellent way of saving some bucks.
- Avoid payment of additional taxes:
You must pay specific registration fees and government taxes when you purchase a new car. If you opt to buy a used car, all these additional taxes and fees would have already been paid by the car's previous owner.
- Lower EMI in case of a car loan:
If you take a loan or choose secondhand car finance, your EMI is much lower than what you would ideally pay for a new car. This is because you get the vehicle at a lower price, which means lower monthly EMIs. So you save money, and a pre-owned vehicle also comes with the comfort of making payments quickly.
- Warranties available:
If you purchase a pre-owned vehicle from a certified car dealer, you also get an opportunity to extend the original vehicle warranty. In this case, a deterrent might be that a certified pre-owned car is costlier than the one purchased independently. But you should not forget that this type of car is also in better shape before being sold.
- Cheaper insurance:
Car insurance in India is a must to drive on the roads without the fear of getting fined. The luxury of purchasing a used car is that the insurance amount of your vehicle is cheaper than usual. More savings!
Some other points of consideration
Purchasing a new v/s or a used one is more of a financial decision than anything else. It will be unfair to say there are no disadvantages to buying a pre-owned car. While you save costs on car insurance, taxes and the actual vehicle price, a used car may need more maintenance. Since the car's mileage may not be as efficient as a new car, it can lead to some hiccups. But are they big enough not to buy a used car? Maybe not! It�s a wise idea to weigh the pros and cons of purchasing a new vehicle, but if you are on a strict budget, stick with a pre-owned car. Many options are available in the market, which is not driven much in terms of time or kilometres. Those could be a steal deal!