Everyone loves to receive or buy something new. The dream of owning a brand new vehicle straight from the showroom floor is surely enticing, but there are a myriad of advantages to be gained by investing in a pre-owned car. Choosing a used car can save you a considerable sum of money, offer more features for the same price, and provide greater flexibility in terms of budget and vehicle choice among others. In this article, we’ll detail out all this and more irresistible benefits of buying a used car.
Stretch that Rupee Farther with a Used Car
The used car market is where you can pick up an exponentially more affordable vehicle than if you purchase a new one. Moreover, you can opt for a more feature-loaded variant or even a car from a higher segment and price point, within your budget. This means that you can pay for your pre-owned vehicle in cash if you so prefer. Banks are also more than happy to loan you the sum required to buy a used car at easy rates of interest and repayment. By making a substantial down payment, you can reduce the EMI amount and the loan tenure, thereby enhancing your financial security. There are reliable used car platforms in the market today that not only offer you a trusted way of buying a car but also provide easy financing options. Overall, buying a used car gives you better value for money and allows you to dream a little bigger.
Longer Lifespan
Advancements in technology and materials used in modern vehicles has markedly increased tier life span , making buying a used car a more viable option.Nowadays engines are made of aluminium with stainless steel inserts unlike the previous cast iron ones. Such an engine could very easily give you 2 lakh kilometres or more depending on how it is maintained. The days of buying a vehicle on the cheap because it is nearing the end of its lifespan are over. Well-maintained cars are pushing the limits of what could be considered the life of the vehicle everyday.
Lower Depreciation
A new car starts losing its value the minute you drive off from the showroom. You can safely take 10% of the car’s value off immediately. The first year of ownership brings you up to a 30% hit in its cost. It’s not as if a used car does not depreciate but the loss is significantly less than if you purchase it brand new. If you’re someone who prefers to upgrade your car often, a used car is the way to go as it provides greater flexibility, while also experiencing a much lower value depreciation compared to a new car.
Guaranteed Peace of Mind
What happens if your pre-owned ride breaks down? Well, nothing much really, because most of the pre-owned cars are still covered under factory warranty or you can take advantage of the extended warranty offered by all car manufacturers across the spectrum. Even if that is not an option, most second-hand car dealerships, especially certified pre-owned car showrooms like Spinnywill offer a variety of warranty options to cover used vehicles in addition to their ironclad guarantees of complete peace of mind ownership. Those horror stories you may have heard of buying a lemon that breaks down immediately after you drive off the lot leaving you stranded with a huge repair bill can be consigned to the pages of history.
Cheaper to Insure
The premium of your car insurance is heavily biassed towards the value of your ride along with other factors like your age. The higher the cost the more the premium. This cost of ownership goes down significantly when buying a pre-owned vehicle because of the drop in the car’s value. Also, you might find that the insurance on your ride is already paid for by the previous owner and you just need to reinsure when it lapses. So an already cheap buy gets an additional cost benefit to factor in.
A Bouquet of Choice
New models of cars are offered nearly every year by car manufacturers. This means that your choice of models is limited to cars launched in the last two to three years. Normally a generational change is brought in every five to six years while a mid cycle facelift is also offered towards the middle of the generation. In the second hand car markets, you could for example, buy a used diesel car from a company that has stopped the manufacture and sales of that variant in its showrooms. If you don’t appreciate the looks of the new model you can pick up the prior model whose looks you’ve always admired. Some vintage cars are classics whose evergreen styling will never date in your eyes. You could pick them up for a song on the used car circuit. The sheer variety of second hand cars available are staggering when compared to the new cars you can pick up.
Certified Cars
The used car market was earlier known for its lack of quality certification, transparency and warranty options. But, with the emergence of organised used car players in the market, this misconception is now a thing of the past. Today, anything and everything you want to know about a used car is revealed to you right at the consideration stage. In fact, organised players like Spinny ensure that every car available on its platform passes a rigorous 200-point inspection covering its exterior and interior condition, as well as its performance. . A car’s ownership, accident and service history, and the like is also readily available should you wish to find out. Purchase of a used car today, thus, enables you to do a deep dive into the car’s past and provides a roadmap to its performance in the future.
No Additional costs
It’s only when you look at the invoice that you realise there were certain expenses that you didn’t factor in when making out the budget for that new car. Teflon and ceramic coating, seat covers with other accessories, extended warranty, freight and handling charges, registration and number plate costs among others are added on. The dealer may even charge you for the fuel in the car. A pre-owned car comes with all the above factored into the one time upfront cost saving you thousands of your hard earned rupees. You simply cannot go over budget with a used car.
The Bottom Line: Used Cars are the Smarter Choice
Old is gold for a reason. Don’t just write off second-hand cars. Remember that second hand vehicles sell more than twice the volumes of new cars. You could go for that aspirational buy rather than one that fits your budget. A pre-owned car comes with a host of benefits that will appeal to you and is bound to have a positive impact on your life.
