Owning a car has been seen as something of great pride by many, with possession of a car being seen as a kind of status symbol. For this reason, it is quite common to have a dream car that one wishes to own before a particular age. It is in this scenario and with this mind-set that the used car industry is seeing an increase in sales.
The price is the Deal Breaker
Buying a used car is seen as a good alternative to buying a brand new car mainly because of the price. This can be seen in the fact that the price of used car in Bangalore is as low as rupees 1 lakh even though their ex-showroom price was around rupees 5 lakh. For example, the Honda City starts at rupees 8.66 lakh and can go up to as high as rupees 13.69 lakhs (depending on the model), however, a used Honda City can be bought for as low as approximately rupees 1 lakh.
Owning a Luxury Car is No Longer a Distant Dream
Another great thing about buying a used car is the fact that it makes it easy for people to buy a luxury car as well. Various dealerships, offline as well as online, give customers options of luxury cars like Mercedes, BMW and Audi to choose from. These cars are available for as low as rupees 11 lakh.
How to Pay For the Pre-Owned Car
While the price of the cars is much lower, it may not be as easy for all to buy the car. For this reason, there are a number of financing option to choose from. Banks give out loans for used cars with customisable interest rates to make it more convenient and the customer can buy a car without having to worry about how to pay for it. Moreover, there are a number of schemes to support the customer as well.
The used car market has made it quite convenient to buy from with various schemes and offers along with efficient dealers who are ready to assist, both in online and offline dealerships. This makes it clear that the pre-owned car industry is doing well and will continue to do so in the future