The market nowadays flooded with used cars rather than buying new cars. Buying cars is an important decision because you would not buy a car every year or every twice year and would like to use it for at least 5 or 6 years. With the average age of cars buyers down to 25 -27 years, the demand for second-hand cars is high.  This age bracket earns well but not so to own a new flashy set of shining wheels.
Many people prefer buying cars during the festival, many during any big occasion in their house. Carmakers respond to this demand with festive season discounts and freebies. This season saw over a dozen launches, which included completely new products as well as facelifts. Data from past years shows that festive season and wedding season contribute most to the sale of fresh cars as well as old and second-hand cars.
Many first-time buyers prefer to purchase cars that are pre-owned by somebody. It helps them in pre ensuring. People who do not know how to drive or are also first-time buyers do not prefer to buy new cars because people always fear to learn drive with their new cars. Often we see, people who are in their mid 30’s when bought cars for the first time, they too prefer to buy a second-hand car because of the age factor and also for learning driving from their first new cars can be a bit risky also. According to a report on India’s used car market released earlier this month by IndianBlueBook, a pricing guide for new and used cars, the pre-owned car market in India stands at 3.3 million units a year, which is 20% bigger than the new car market. More than half the times, a family’s first car comes from this market i.e second-hand market for cars. A study by Deloitte, Driving through the urban used-car market, says 73% pre-owned cars buyers are first –time car buyers.
Very obvious, buying the right used car can be more difficult than buying a new car. We take a look at some of the important aspects that buyers and sellers both should be mindful of:
Why own a car that is a pre-owned?
“A pre-owned car can be no from all aspects but the most basic and needful requirement can be satisfied with the second-hand car is that- feeling of ownership of a first car. We see India evolving similarly,” said Nagendra Palle, chief executive officer, Mahindra First Choice Wheel Ltd, a multi-brand platform to buy and sell used cars.
Though affordability can be the reason, it may not be the one. “many people prefer second-hand cars because these are value for money. You can sometimes or most of the times get a good vehicle at a relatively low price and that’s a far better option when you value the money.
 President of CarDekho.com, Umang Kumar also a chief executive officer and co-founder of Gaadi.com, says buying pre-owned cars is a good and affordable option.
The second big advantage of owning a pre-owned car is that you can almost as a new car at fair prices i.e new car at the price of the second-hand car. Isn’t it a good deal? Earlier people used to drive cars for 10 to 12 years but now the trend has been changed and they have been dropped to around 5-6 years so many fo second-hand car is fairly new. This means you can buy’ as good as new’ car at the much lower price and use it for longer. But they want is that you need to research carefully before buying a new car and that can be a tedious job also.
If you are choosing the car of less popular brands, make sure maintenance services are easily available. And secondly, you must insist on getting a copy of the ownership papers in the new owner’s name.
The major aspect one can say in the industry of pre-owned car business are the discovery of the right product by the consumers, trust between a buyer and seller and pricing and financing. But with the emergence of online new schemes, the problem has been solved.
If you are choosing the car of less popular brands, make sure maintenance services are easily available. And secondly, you must insist on getting a copy of the ownership papers in the new owner’s name.
The major aspect one can say in the industry of pre-owned car business are the discovery of the right product by the consumers, trust between a buyer and seller and pricing and financing. But with the emergence of online new schemes, the problem has been solved. CarDekho.com or ZAP cars are the major boons in this industry.