Following point has been added to the article!
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Originally Posted by GTO The sheer variety! Whatever the budget you have for a pre-owned car, the choice of models will be at least thrice that of new cars at the same price point. As an example, someone with 6 lakhs in his pocket can only consider hatchbacks & a handful of compact sedans among new cars. In the used car market however, over & above hatchbacks & entry-level sedans, I could find him powerful C2 segment sedans (e.g. City, Verna), SUVs (e.g. EcoSport, Duster), MPVs (e.g. Ertiga), 4x4s (e.g. Thar, Gypsy) and so on. When I was recently shopping for a 530d, there were probably about 20 new cars that fell in the same budget. On the other hand, the pre-worshipped market gave me a choice of 200 models (including V8 petrols & V10 diesels!!). |
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Originally Posted by mmxylorider Only people in the 'know' know it's used. |
If that matters to you, yes. A pretty girl once told me that, even if a guy arrives in a 20 year old Mercedes W124 (cost = <2 lakhs), it'll make more of an impression than a guy in a brand new Honda City (cost = million+ rupees). That's just how society is.
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Originally Posted by InControl So someone who buys a 4 year old car will already have most of the upgrades like a upgraded music system, aftermarket alloy wheels and other add-ons without any additional cost to the buying price. WIN-WIN |
Sadly, the last 4 cars I bought didn't have any accessories. On the other hand, those who bought these cars from me got a lot of them
.
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Originally Posted by Mafioso so is it worth going in for a used car loan of 5 lacs vs a new car loan of 6-7 lacs? |
Absolutely yes. Refer to the tips I shared to lower your interest rate. End of the day, whatever marginal interest you pay extra, you are getting a much, much superior car.
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Originally Posted by bajica How do fellow BHPIANS rate a 2nd hand car used as Test ride car for a showroom? |
I wouldn't touch it with a barge pole. Testdrive car = 500 people have driven it without caring about it.
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Originally Posted by Shivanshu The only question that remains is from where to get genuine second hand cars.
1. Mahindra First Choice or Maruti True Value ? |
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Originally Posted by sups I will be grateful if you please share recommended ways to look for good used cars. Is it Truevalue or OLX or local used car sellers? |
Focus on the actual car more than the dealer. You can get a good car from a bad dealer or a bad car from a good dealer. As long as you follow the best practices listed in our
used car buying article, you'll be safe.
In terms of variety, you can't beat Olx. They
own the online classifieds market in India.
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Originally Posted by viraj_s85 Few things that I usually look for while buying used car,
1. Always buy Top-End version |
Congrats on your deals! Luckily, the last 3 used cars I bought were all the top variant. Best part is, the premium for a loaded variant shrinks in the used market.
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Originally Posted by devrajman If you "know" your car, its no issue buying 8yrs+ old car. |
I'd never recommend buying an 8 year old car. The sweet spot is between 2 - 3 years of age (when they depreciate the quickest).
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Originally Posted by Coplay Any pointers on which manufacturing year I can look at to avoid any heartache in the future? |
Between 2 - 3 years old. Ideally, you'd buy a Jetta covered by factory warranty and then get the extended pack. Your risk = zero.
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Originally Posted by Aslamjaffer I would always advocate for a used car over a new one. I own a used M800 and a Honda Civic (recent buy) and both are serving me just fine. |
The Civic is one heck of a used car! It was 5 years back, and it still is today, because of the tempting prices. I'm seeing pristine Civics trading at merely 5 lakhs! Average but still usable Civics are going for 2 lakhs!
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Originally Posted by Abhi_rx I bought a 2010 Jetta Highline last year which had run just 35k. After regular service and new tyres on day 1, it was good as new. My runs are typically long distance and hence the need to have a safe, solid and reliable car. The Jetta has not disappointed one bit. Its fantastic value for the money, it also returns a higher average than the car it exchanged, a used Swift Dzire (D)! |
Congratulations on your beautiful sedan
.
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Originally Posted by swami69 I bought a 2013 October XUV500 W8, 34Kms for 10L which tick marked all my requirements for a long distance tourer for a family, SUVish, fantastic engine and all the safety features one can think off. I extended the warranty to another 2 years and also got a zero dep insurance cover done. Got the interiors cleaned at 3M and did a machine waxing myself and the car looks fantastic in white. |
Just the way I'd do it. Congrats man.
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If i had made a decision to go in for a new one at that budget, i would have probably got a sedan like Amaze, Dzire or something in that range which I did not want.
|
Incomparable, just incomparable.
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Originally Posted by Coplay I accidentally stumbled upon an NBFC, TVSCredit.co.in which provides loans for used cars, bikes, autos and tractors.
I filled in an online form and they promptly called me. I was quoted an interest rate between 7.0 to 9.1% based on the car/age/loan amount.. |
Nice one, thanks for sharing. Please PM me if the deal actually goes through at this rate. We should announce it via a new thread so that others benefit from the news.
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Originally Posted by Agarwaka For instance, if my budget is 15L for an old or new car, and I go in for say a 4 year old C Class instead of a new Altis, I'd do well to remember that spare parts / service of the C Class are priced as per a new C Class and not tailored for older cars. |
A Mercedes isn't cheap or value-for-money to own, whether new or old. If you want VFM upkeep, you'd go for the Altis.
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Originally Posted by bhandary Do any private pre-owned car dealers provide any kind of warranty say for 6 months or so? Or they just, buy it - sell it - forget it. |
I wouldn't put any weightage on their warranties; would trust only manufacturer warranties.