By the time a used car is up for sale, it prices have reduced drastically. Even if it is has been used for a short period of time, much of the depreciation is already paid for by the first owner of the car. So, buying a pre-owned car is a great way of saving some bucks.
When you purchase a new car, one has to pay certain registration fees and government taxes. If you opt for buying a used cars, all these additional taxes and fees would have already been paid by the previous owner of the car.
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 not only do you save money, but a pre-owned car also comes with the comfort of making payments easily.
If you purchase a pre-owned vehicle from a certified car dealer, you also get an opportunity to extend the original vehicle warranty. A deterrent, in this case, might be the fact 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.
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!
Purchasing a new v/s a used is more of a financial decision than anything else. It will be unfair to say that there are no disadvantages to purchasing a pre-owned car. While you save costs on car insurance, taxes and the actual cost of the car, a used car may need more maintenance. Since the mileage of the car may not be as efficient as a new car, it can lead to some hiccups. But are they big enough to not buy a used car? Maybe not! It’s a wise idea to weigh the pros and cons of purchasing a new car as well but if you are on a strict budget, stick with a pre-owned car. There are many options available in the market, which are not driven a lot in terms of time or kilometres. Those could be a steal deal!