According to an article published in Economic Times “Used car market is 1.5 times of new car in India, 2.8 times of new cars in the USA and 3.4 times of new cars in the UK.” Today, consumers are looking to buy used cars without inhibitions. The stigma associated with buying a pre-owned car has somewhat dwindled with several top-notch cars available in an affordable price range.
As a potential buyer, you come up with your own set of expectations and limitations. Before the emergence of online sources, the traditional process of buying a used car, to put in a sober term was a tedious one. From finding a reliable source to come to a mutually acceptable selling price, there were a lot of factors that will ultimately tend to put off potential buyers from opting for a pre-owned car.
Today, it is probably due to the emergence of reliable online sources that the whole process has become much simpler for both the buyer and sellers. Now, if you are looking for used cars make sure you opt for a reliable brand.
Why should you only consider a reliable brand while buying a used car?
Consider an example of Maruti-Suzuki. What is it about the brand that you can find potential buyers even for a third-hand car? The possibility of finding a potential buyer at any location like one can easily find used cars in Delhi, Bangalore, Noida, and Pune etc. The optimum selling price depends upon the condition of the car and on the location. But what makes the brand the most preferred one for the consumers?
Maruti Suzuki, for one, has perfectly essayed the aspirations of Indian automobile consumers. The cars have been creatively designed, redesigned, and installed with high-tech innovation and powerful machinery as the aspirations of its audience grew.
What makes it one of the most preferred cars can be attributed to:
- Number of service centers
- Easy availability of spare parts
- Reliable machinery
- Higher resale value
It is for these very reasons that it is one of the most preferred cars for people who are looking to buy used cars online.
How does a car brand help you save money?
As a potential buyer, you get to avail many benefits of buying from a reliable brand. These benefits include:
- Lower maintenance cost
When you go out to buy a used vehicle, the first thing is to ask for vehicle history records. Based on servicing history, accidental history, you can evaluate which components need further repair and maintenance. While on one side, in case of faulty parts, you can negotiate for a lower selling price, on the other you can get the same sorted at the earliest without having to spend extra money and resources to source branded parts.
- Higher resale value
When you go out to sell your second hand car of a reliable brand, you can find potential buyers without much difficulty. Brands such as Tata, Maruti Suzuki, Hyundai, Mahindra, etc. have a loyal set of consumers with brand loyalty. Depending upon the number of buyers pitching to buy a used car, you can choose the best price without having to settle on a lower reselling price.
- Top performance
It is with years of manufacturing high-performance vehicles that a brand establishes itself in the market. Once they do so, it is all about maintaining the image and exceeding the benchmarks by bringing in better options for the consumers. Even after thousands of kilometers of running, you can expect top performance and efficient fuel economy from credible car brands.
- Ease of re-selling
A familiar brand name for a potential buyer eases their suspicion of buying a faulty car. If you keep your car in top shape and maintain it properly, you will not face any trouble finding a buyer.
The above-mentioned are the prominent benefits for a potential buyer to buy a used car of a credible brand. Though irruptive of the brand name, the resale value of a car starts to go down the moment a vehicle owner is handed over the keys of his new car.
The depreciation value chart of a car:
| Car age | Percentage depreciation |
| Less than 6 months | 5% |
| More than 6 months but not above 1 year | 15% |
| More than 1 year but not above 2 years | 20% |
| More than 2 years but not above 3 years | 30% |
| More than 3 years but not above 4 years | 40% |
| More than 4 years but not above 5 years | 50% |
The above percentages apply for every car irrespective of a brand name. The performance and resale value come down to the condition of the car and most important being brand affinity and brand loyalty among the potential buyers. So, for an individual who identifies himself with Scorpio, he/she will be willing to pay av tad higher price to buy a used Mahindra Scorpio.
Find out car valuation for free online
Owing to an unbiased transparent process, it becomes easy for buyers and sellers to come to a mutually acceptable term online, where you will find sorted functionality and tech integration to buy and sell used vehicles. Used cars, can determine their true condition, find fair market price, and buy and sell from home. This eliminates the tedious process of price negotiation and performance evaluation for buyers.
