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Buying A New Car V...

February 20, 2016 10:05

The next two years seems like a bonanza for those contemplating buying new cars in India. With the new car market showing signs of resurgence, manufacturers are lining up to launch one model after another. This has been the case across the entire pricing spectrum, from budget brands to luxury marques.

Meanwhile, the used car scene too is red hot right now. Both, the organized sector as well as the local sources are showing a huge demand from people. But deciding between buying a new car vs used car is still an exercise worth spending some time over.

Some of the reasons why you’d want to a new one would be:

  • You want first dibs on your car. Some people cannot have another owner before them for their prized set of wheels. For them, buying new is a no-brainer.
     
  • Others want nothing but the latest model in the market. The launches of new cars in India in recent months has served to stimulate a lot of latent demand, which has brought back customers into dealerships.
     
  • Nothing beats the peace of mind factor that comes with a new car. The factory paint, the company warranty, the fact that it hasn’t been used/abused before is something people are willing to fork out great deals of money over.
     
  • In some sections of society, buying new indicates wealth and accords a higher level of social status & for some, that’s worth all the trouble and expense.
     
  • Lastly, you’d buy a new one, because you’ve got the money to spare. It’s that simple.

So then, let’s take a look at the other side of the new car vs used car conundrum. The advantages of going used are:

  • There’s great bargains to be had in the used car market right now. There’s a glut in supply & dealers are actually looking to clear off stocks.
     
  • Lateral upgrades are waiting to be discovered, as people higher up the price chain are upgrading earlier.
     
  • Modern cars, if looked after well & serviced on time, easily last a couple of hundred thousand kilometres. With most used cars being traded in under the 50,000 kilometre mark, you get a great deal on a car that’s run only a fraction of its usable lifespan.
     
  • You get accessories & add-ons virtually free. Smart buyers will never pay more than necessary for a car just for its accessories. This is true particularly in individual sales.
     
  • Also, for those working on a tight budget, the used market is the only choice left, in a few instances.

A piece of advice though, just don’t get stuck with a lemon! Happy Shopping!

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