Buying A Used Car In India: A Complete Guide

Buying a car in India for some might be a basic necessity, for the more indulgent it can be a status symbol, but for the majority it is a dream come true. Whatever the reason may be, a car is an important part of Indian households. But buying a car is a very major financial decision, which involves a lot of savings, and farsightedness into the future. The concept of buying used cars started taking ground in recent years when people started realising that used cars can be as good as new cars. However, many of us still refrain from the idea as it involves tons of research and a substantial amount of risk. With the advent of online used car platforms, things have gotten easier for the common Indian.

But the question of reliability still haunts used car buyers, as chances of getting a good used car are still relatively low. Enter online used car dealers. Unlike offline used car dealers whose sole aim is to get rid of a car in the name of a sale. Online car dealers, like Spinny, make it a point to go the extra distance and check the car extensively before putting it up for sale. They also offer warranties and guarantees should the car run into any post sale troubles. Combined with trust and reliability, Indian online used car platforms are fast becoming used car buyers’ go to source for procuring used cars.

Lower Depreciation Rate

This is the main reason why used cars cost less. Let us first explain what depreciation is in a nutshell. Depreciation rate is the loss of value of assets one owns, in this case a car. The rate of depreciation depends on a number of factors but the primary cause that brings the value of a car down is its wear and tear, or its mileage. The higher the mileage, the higher the depreciation rate. And for a new car this means an average 15-30% loss of value after just a year. Used cars on the other hand have already been through the high depreciation phase, which means there won’t be a significant loss of value once you try to sell it.

Lower Insurance Premiums

Insurance value is directly proportional to the age of the car, that means a newer one will have a higher insurance premium than compared to an older one. When a car is new it is of higher value, hence higher the insurance but once it starts ageing its value starts to come down, due to a myriad of factors, which is why the insurance premium also comes down.

They Are Warranted

Similar to their newer counterparts, used cars from certified dealers like Spinny come with limited warranties which can give the customer a sense of security when buying a used car.

Great Quality Cars

Nowadays, there is nothing ‘used’ about a used car. This is because certified dealers take great care in making sure that the used car matches the appearance, durability and mechanical standards of a new car and gives the customer ultimate satisfaction.

What is the difference between the two?

A non-certified seller can be anyone. It can be the neighbour trying to sell their used car, an offline car dealer, your friends, relatives, and so on. In short, non-certified sellers are private sellers who don’t offer any certification for the vehicle they sell. No certification means there won’t be anyway by which you would be able to tell what the car has been through, whether it has had an accident, whether the meter has been tampered with, and if the service details mentioned are true or not. However, you might be able to get the car for the best price if you are directly buying from the seller, eliminating the middlemen, but this might not be the case with offline dealerships.

Selecting The Car

A very crucial aspect of buying a car. It would be wise and pocket-friendly to buy a car that suits your lifestyle and needs. For example – It would make no sense to buy a big SUV for your daily commute if you are single. It would also makes no sense to buy a compact sedan if you are a family of 6 and want a car to go out for those long drives.

Much like buying a new car, a thorough study of your needs should be done well in advance when buying a used car.

Explore All Buying Locations

After narrowing down on a car of your liking, now is the time to go and see it in the flesh. There are many options when it comes to buying used cars, it could be directly from the owner, used car dealers, and many others who provide the service of buying used cars. When you see a car that you like, don’t hesitate, ask reasons for selling, how it was used, inquire whether the vehicle was involved in an accident, and many more. The more questions you have the better are your chances of getting a good used car.

Here are places where you can hunt for a used car.

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