Buying a car is on almost everyone’s list of big purchases. However, with the rising prices of vehicles, many people often defer that purchase until it is financially viable to do so. An option that perhaps a number of people overlook is the used car market. With the number of newer cars that are now being launched, the used car market is expanding like never before. Owning a used car no longer means having to settle for an outdated, worn out version of your dream car.
Buying a used car is not as much of a hassle as it was earlier. With the used car segment becoming more organised and car loans for used vehicles becoming easier to acquire, there is no reason why one should not rule out the option. If the car dream has been that of owning an SUV, it is just as easy to fulfil if it were a sedan or a hatchback.
How to pick a used SUV
With the SUV segment growing at an accelerated pace, customers are spoilt for choice even in the used car sector. In the past, the only options for affordable SUVs were probably the Tata Safari or the Mahindra Scorpio. The options of international brands available widen the choice and are sometimes cheaper than the Indian brands. However, regardless of the brand, there are a few factors to consider before making a purchase.
Choosing between a diesel or petrol variant is an important factor to consider. Petrol-powered cars usually mean higher expenditure on fuel and a lower mileage when compared to a diesel-powered car. However, pre-owned, diesel-powered SUVs tend to be more expensive that pre-owned petrol-powered SUVs. Furthermore, the choice for affordable petrol-powered SUVs is also a lot wider.
Age of the car
The age of the car is an important factor that should be analysed before making a final decision. The rate of depreciation for cars is generally high in the first 2 to 3 years after the initial purchase. The rate of depreciation following the first few years tends to decrease. The general condition of the car is another factor that should play a role in making a decision to purchase a used car. A car that is still within the warranty period is always a good determining factor since it can lower the cost of repairs in case of a breakdown after the purchase. The mileage on the car can give a prospective buyer a rough idea of the general wear and tear that the vehicle has undergone.
Apart from the general condition of the car, checking if the papers of the car are in order is crucial to avoid any legal liabilities that could arise in the future. Car insurance documents, registration certificate, a receipt of the road tax payments, and other essential documents should be assessed before finalising the purchase.
Research about the car
When an individual is considering their options, it is important to look up reviews of the car. A number of reviews can be found online about the overall performance and the common problems faced. Additionally, obtaining feedback from people who own or have previously owned the same car model can help provide a clear picture of what one can expect. Furthermore, extensively researching all aspects of the car can also help with negotiating the price of the car.
Best Used SUVs in the market
SUVs are usually more expensive than hatchbacks and sedans, but a pre-owned SUV is more budget friendly.
The Toyota Innova is known for being sturdy and efficient in its performance and is the reason for its popularity in the SUV segment in the last decade. Toyota has since launched several upgraded versions of the Innova, however, the second and third generation Innovas can be purchased at a fairly good price. A well-maintained, pre-owned Innova can be purchased for around Rs.7 lakh.
Maruti Suzuki Ertiga
The Ertiga was extremely popular when it first launched and the facelift versions of the car have been continuing to do well in the car market. The car is spacious, practical and comes in both petrol and diesel variants. Additionally, Maruti Suzuki’s exceptional after-sales services make the Ertiga a smart choice in the used car segment. A used Ertiga that is in good condition can be available at Rs.7-8 lakh.
The Duster is a very popular choice in the compact SUV segment. The car comes in both a petrol and diesel variant. It is known for its sturdy exterior and fuel efficiency and is popular even in the used car market. A pre-owned Renault Duster usually has a price range of Rs.8-10 lakh.
The Honda CR-V is another popular car in the compact SUV segment. Honda recently launched a facelift version of the CR-V this year, further adding to the popularity of the SUV. Depending on the variant chosen, a used CR-V can be purchased for as low as Rs.4 lakh.
The EcoSport made huge waves in the compact SUV segment following its launch. The car has a number of impressive features including high fuel efficiency and a top-notch sound system. Another selling point for the EcoSport is its ground clearance of 200mm. A used EcoSport can be purchased for anywhere between Rs.7-9 lakh.
With the used car segment growing in size and reliability, purchasing a car that has been pre-owned does not carry as much risk as it once did.