Most individuals have a dream of owning a car but in some cases, financial constraints may not permit one to buy a car of their choice straight out of the showroom. However, the number of used cars up for sale in the market makes this more affordable. In the recent past, the number of people who have opted for buying pre-owned cars has been on a steady rise. The following is a list of cars that have great resale value.
1. Maruti Suzuki Swift
The Swift is one of the most popular hatchbacks on the road right now. Despite a newer version of the Swift being launched in the market, the original version of the car has continued to do well sales-wise. The car comes in both petrol an diesel options and is also available with automatic transmission. At present, one can purchase a pre-owned Swift for anywhere between Rs.2.5 lakh and Rs.5.5 lakh.
2. Renault Kwid
The Kwid has been a very popular choice ever since it was launched. The car comes with a petrol engine and has the option of an automatic transmission gearbox as well. The Kwid has very often been chosen by first-time car owners specifically due to its resale value. A pre-owned Kwid can be purchased for Rs.3.5 lakh to Rs.2.9 lakh.
3. Honda City
The Honda City has a reputation for being exceptional in terms of build and performance. Additionally, the after-sales service offered by Honda Motors further adds to customer satisfaction. Based on the year of manufacture and the overall condition of the car, a used Honda city can be purchased for a price anywhere between Rs.2.5 lakh to Rs.8.8 lakh.
4. Hyundai Elite i20
Hyundai Motors is known for building cars that are low-maintenance and last longer. The i20 is no exception. Since its launch, the i20 has remained one of the best cars to purchase in the premium compact segment. The i20 comes in both a petrol and diesel variant both of which offer high fuel efficiency. Additionally, the entertainment and safety features of the car serve as an added advantage. A pre-owned Hyundai i20 can be priced anywhere between Rs.2.2 lakh to Rs.4.25 lakh.
5. Toyota Innova Crysta
The Toyota Innova has dominated the MPV segment in India since its launch. Apart from being extremely spacious and comfortable, the Innova delivers exceptional performance. This is true regardless of how many kilometres the car has travelled. Depending on the model chosen, a pre-owned Toyota Innova can be purchased for anywhere between Rs.6 lakh to Rs.9.5 lakh.
6. Ford EcoSport
Ford’s compact SUV, the EcoSport, was launched in India fairly recently and is available in both a petrol and diesel variant. A facelift version of the EcoSport was launched this year, which is more than likely to result in a decrease in the demand for the older version. A used Ford EcoSport is likely to be priced between Rs.6.5 lakh to Rs.8 lakh.
7. Maruti Suzuki Vitara Brezza
The Vitara Brezza has played a big role in helping Maruti Suzuki establish a place in the SUV segment. The car is only available in a diesel option and is very fuel efficient. Despite being extensively used, the Brezza still delivers exceptional performance. The resale value of the Brezza is usually on the higher side and a pre-owned model may be valued anywhere between Rs.7 lakh to Rs.10 lakh.
Affordability is perhaps one of the biggest advantages of buying a used car. Apart from the low price, buying a used car means a lower insurance premium. The price for a used car is determined after taking into account depreciation of the vehicle.