Buying Second Hand Cars in Delhi is Easy With This Easy Guide
Some of the benefits that are being offered to customers include extended warranty on cars, document transfer, no meter tampering guarantee, and roadside assistance, amongst others. In the last 2 to 3 years, the used car industry in the organized trade has grown 70-80%. According to Gaurav Dave, Area Manager for AP, Mahindra First Choice Wheels Ltd., the reason behind this growth is a surge in the middle class segment. Also, before recession the new car sales had gone up, thus providing the market for used cars in the years that followed.
Buying Second Hand Cars in Delhi
According to Rajeev Dubey, group president and chief executive officer at Mahindra & Mahindra, the average holding period has decreased from five to six years earlier, to three years in today’s times. With the rise in per capita incomes, more and more people will explore the proposition of buying a used car once, irrespective of whether it is their first car or not.
Market reports have also suggested that 7 out of 10 such pre-owned cars sold are complete hatchbacks, while the rest is a mix of sedans and luxury cars. In fact, Maruti Suzuki is the most preferred choice of used car buyers, due to its trusted reliability, ease of maintenance, and high mileage. CRISIL has also stated that used car sales volumes have grown at a CAGR (compounded annual growth rate) of about 15% over the past five years till 2014-15. Although the ratio of sales of used cars to new cars in our country has witnessed a rise over the years, it is still comparatively slower than the 3:1 norm that is typical of mature markets like the US and Europe, which indicates potential for further growth.
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Some car manufacturers and dealerships offer certified used cars. These pre-owned cars go through detailed checks wherein defective and worn-out parts are replaced. If the particular dealership offers warranties on their used cars, try to get as much information as you can about the warranty coverage, duration and other terms and conditions. It might come as a surprise that often it so happens that many reliable cars weren’t popular when they were new. However, they are great bargains in the second hand market, and perhaps even featured amongst the top 3 car models in the same. The fifth generation Honda Accord and Fiat Palio 1.6 are just two of the many bargain models available. On the other hand, cars like the Opel Astra and the Ford Escort suffer from an inconsistent supply of spares, high maintenance costs and terrible resale value. One should never consider buying a car whose manufacturer no longer exists.
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Also, make sure that the car you’ve set your mind on has not been repossessed by a finance company. Otherwise it will be difficult to procure the Certificate of Registration and the original owner may create trouble for you even if you manage to get the car transferred to your name.
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