Does a Used Car make sense?
Amateur car driver here. I was thinking of buying used cars. But the way second-hand cars are priced makes me question the whole logic of buying them. Budget: Upto INR 6.5L Usage: Mostly City, 15kms + Outstation on Weekends PS: We also have a car lease policy in the company. So I guess I can try saving some tax there.
Yes used car makes sense especially because you are an amateur driver. Haath saaf kar lo, and maybe you will have a good perspective and outlook on the kind of (new) car you want to buy next. Beware of the car lease policy - if you don’t stay with the company for the duration of the lease then you end up paying more than the actual cost of the car. All kids of cars (and in fact everything you consume) has become crazy expensive after COVID, so you will have to just suck it up. I would say go for it. Check out Spinny, they generally have good deals
Please read “kids” as “kinds”
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Imo don't buy second hand vehicle. You will regret it later. Buy first hand vehicle only to prevent future engine issues. No one knows how previous owner maintained it. Increase your budget slightly and take new car.
Verify engine, parts and all, but usually it is a decent idea.
Also older cars over new "smart" data stealers any day.
@Rodriguez Buying a used car is a great decision. Following are my thoughts.
1. Environment Friendly and Sustainable choice
Buying a used car is more environmentally friendly as it reduces the demand for new manufacturing, lowering carbon emissions and resource consumption. Extending the lifespan of existing vehicles minimizes waste, making it a sustainable choice.
2. Other benefits
Buying a used car is cost-effective, avoiding steep depreciation. Meaning you can get more car for your buck.
Other Key considerations: research the car's history, conduct a thorough inspection, check for accident history, do a test drive, and negotiate a fair price. Also, buy a brand which has resale value, in India, Toyota, Maruti have better resale values than any other brands.
A used car makes sense in all cases. - amateur or expert. For amateurs buy anything that fits in the budget and current need. For later buy a less than 1 year old car from a genuine seller (people keep relocating) and save few lakhs easily.
If you are getting lease option use that.
Buying 2nd hand car below 1-2 yrs is good as you can get the car at 20-30% less price and also car will be under warranty. But you should get it checked by mechanic to be on safer side.
The prices on second hand cars are crazy. If you need a decent less driven car, it’s almost like paying the full price.
Given that second hand cars are priced so high and are selling like hot cakes, it looks more prudent to buy 1st hand only and sell it off as it will fetch better resale value anyday.
