Launched in 2017, the Tata Nexon is one of the most successful cars in Indian automobile history. Moreover, being the first car in India to score full 5-stars in the Global NCAP safety test, the Nexon redefined the passenger safety standards, changing the industry forever. However, the Nexon is more than just a safe car and is known as the most balanced package of solid passenger safety, comprehensive feature list, stylish looks, and premium experience in its segment. Since the Nexon has been immensely successful, it also claims a high resale value.
All the same, like any car, the resale value of your Tata Nexon depends on several factors. In this article, we will explore how you can maximise the resale value of your Tata Nexon.
Factors Affecting Tata Nexon Resale Value
Several factors influence the resale value of your Tata Nexon. Understanding these can help you take the necessary steps to ensure you get the best possible price when you decide to sell.
Condition
A well-maintained Nexon that looks and drives like new will naturally fetch a higher price than one that shows signs of neglect. You can achieve this by being diligent about regular maintenance, prompt repairs, and keeping the car clean both inside and out. One thing that really goes a long way is the condition of the paint. Ideally, a Nexon that has been washed and waxed periodically, using the right technique, will have very few swirl marks on the paint. If you want to be extra thorough, put in the work to maintain the black plastic bits as well using a specialised polish. All of these efforts will pay off when you sell your car in the future.
Odometer Reading
The odometer of a car is a metre readout in the instrument cluster. It keeps a track of the total kilometres a vehicle has covered. It is another critical factor in preserving the resale value of your Nexon. Cars with a lower odometer reading tend to have higher resale values. This is because a lower odometer reading typically indicates less wear and tear, meaning the car is likely to have a longer remaining lifespan. As a general rule of thumb, petrol cars have a bit of leeway in this department over diesel cars. This is because petrol engines undergo less wear and tear compared to diesel engines. However, if you plan on selling your Nexon and want to preserve its resale value, it would be a good idea not to put too many miles on the odometer.
Number of Owners
The number of previous owners can also impact the resale value of your Tata Nexon. A car with a single owner is often viewed more favourably than one that has changed hands multiple times. This is because a single-owner vehicle is generally perceived as better maintained and having a clearer history. Also, owners who buy vehicles for short periods usually put them through higher levels of stress in everyday driving, and if a car has been through multiple such owners, it can be in bad condition.
Model Popularity
The popularity of the specific model and variant of your Nexon also plays a role. Certain variants and trims are more sought after in the used car market due to their features, performance, and fuel efficiency. If your Nexon has features like a sunroof, which were initially available on higher variants but were later introduced in lower variants as well, chances are you can use it as a bargaining chip. A sunroof is a premium feature, which is quite desirable. The Nexon is also popular for its 5 star G-NCAP safety rating, and that is something applicable to all variants. At the time of reselling, these are all factors which will up the value of your Nexon.
Age
The age of your Tata Nexon is a straightforward factor affecting its resale value. Newer cars will typically command higher prices than older ones. However, the rate of depreciation can vary. For example, a diesel Nexon from the BS4 era won’t command a hefty premium as it will soon be entering their twilight years, especially in the Delhi/NCR region. Certain models may retain their value better over time due to their reputation for reliability and performance. You can expect the petrol variants to hold their value more linearly, whereas the diesel variants will see a sharp drop-off in price after three to five years.
Accidental Status
The accident history of your Nexon is crucial. A car that has been involved in accidents will have a lower resale value compared to one with a clean history. Ensuring all repairs are done professionally and maintaining a record of all services can help mitigate some of the depreciation due to minor incidents. In the case of the Tata Nexon, since it already has a high safety rating, small fender-benders won’t make a lot of difference. However, a significant crash with the potential to stress the structure of the car will lower the resale value steeply.
Powertrain, Transmission, and Colour
The specific configuration of your Tata Nexon can also influence its resale value. Cars with more popular powertrains and transmissions remain in higher demand. In the case of the Tata Nexon, the diesel engine has been a popular choice among buyers, and holds good resale value in its early years. However, well-maintained petrol engines can also attract good value. Meanwhile, automatic transmissions have an advantage over manual transmissions, because of being pricier from the outset. As far as the Nexon is concerned, the diesel-automatic is a popular choice and holds good value in its first three to four years.
Similarly, the colour of your car can affect its resale value. Most cars sold in India are white, black or silver. When it comes to colours, Tata, over the years, has offered the Nexon in different special editions. If your Nexon is one of those, it will definitely help retain a relatively better resale value.
Expected Resale Value of Tata Nexon
The resale value of a Tata Nexon varies depending on the variant and the year of manufacture. Generally, a well-maintained Tata Nexon can retain a significant portion of its original value even after a few years of use. For instance, a three-year-old Tata Nexon XZ+ variant in good condition can typically sell for around Rs. 7 to Rs. 9.50 lakh, depending on the odometer reading and overall condition.
Different variants of the Tata Nexon hold their value differently. Higher-end variants like the XZ+ and XZA+ tend to retain value better due to their additional features and premium feel. The diesel variants often fetch higher resale prices compared to their petrol counterparts because of their better fuel efficiency and higher torque output, which are attractive to many buyers.
Best Time to Sell your Tata Nexon
The best time to sell your Tata Nexon is typically within the first three to five years of ownership. During this period, the car has already depreciated but still retains a substantial portion of its value. After five years, the depreciation rate tends to increase, and the car’s value drops more quickly.
The broader market conditions can also influence the best time to sell. Times of high demand for used cars, such as during festive seasons or when there are fewer new car launches, can be ideal for selling your Nexon. Conversely, selling during periods of economic downturn or when there is an oversupply of used cars can result in lower resale values.
Ensure that your car is in its best possible condition before putting it up for sale. Address any minor repairs, get a fresh coat of wax, and have it detailed to make a good impression on potential buyers. A car that looks and feels new will always attract higher offers.
FAQs
How can I maintain the resale value of my Tata Nexon?
To maintain the resale value of your Tata Nexon, ensure regular servicing and maintenance as per the manufacturer’s recommendations. Keep detailed records of all services and repairs, and address any issues promptly. Maintaining the exterior and interior cleanliness, avoiding major accidents, and driving responsibly will also help preserve its value.
Is it better to sell my Tata Nexon privately or to a dealer?
Selling your Tata Nexon privately can often yield a higher resale value compared to trading it in at a dealership. However, selling privately requires more effort in terms of advertising, meeting with potential buyers, and handling paperwork. Dealers offer convenience and can facilitate a quicker sale, but they typically offer lower prices.
What documents are required to sell my Tata Nexon?
When selling your Tata Nexon, you will need the car’s registration certificate (RC), insurance documents, pollution under control (PUC) certificate, service records, and a copy of your ID proof. Having these documents ready will streamline the selling process and provide confidence to potential buyers.
Does the colour of my Tata Nexon affect its resale value?
Yes, the colour of your Tata Nexon can affect its resale value. Neutral colours like white, black, and silver are generally more popular in the used car market and can help maintain a higher resale value. Less common colours may appeal to a smaller pool of buyers, potentially reducing the resale value.
Can modifications impact the resale value of my Tata Nexon?
Modifications can have a mixed impact on the resale value of your Tata Nexon. While some buyers may appreciate performance upgrades or aesthetic enhancements, others may be wary of modifications that deviate from the original specifications. Generally, it’s best to keep modifications minimal and ensure they are professionally done.
