Most of the cars in India are unable to fetch a decent resale value because of various reasons. Most of the cars lose their 15-20% of market value as soon as they come out of the showroom. Thus, one can speculate the percentage of decrease in the value within 4 to 5 years. Though consumers are getting aware of how to increase the resale value of their used cars. Still, the entire used car market is yet to be organized owners face a lot many issues leading to get them a good deal. The market is getting organized slowly and steadily of which customers are getting benefits too. There are a couple of car brands which are doing extremely well in the market because of a few reasons like Maruti Suzuki and Hyundai. Out of the both, Maruti Suzuki’s Swift has been doing great in terms of resale value. It has been giving the best of the ROI’s to its owners even for a 5 to 7 years old car. Maruti Suzuki Swift has been topping the list is being sold at the highest price. An owner can easily expect to get somewhere between Rs. 3.5 to Rs 5.5 Lakhs for a lowest to the highest variant. Maruti Swifts are in demand which is also as old as 8 years but in well-condition. But it’s suggested that if you are looking to buy a Swift then one should have a budget over Rs 5 Lakhs for a well-maintained car.
Maruti Suzuki Swift is giving the best of ROI in few of the cities like Delhi, Mumbai, Bangalore, Chennai and Hyderabad. In Delhi, its been observed that it topped the list of the first ten used cars demand. In fact, our report shows Maruti Swift inspection was up at 324 its car procurement success rate was at 25%. In Mumbai, Swift stood at the second position in terms of physical inspection as well as procurement. Other three cities also show a similar type of trend with respect to the car model. Maruti Swift has different variants of which VDI and VXI’s diesel variant resale value is retained up to 85% of their costs within the first two years of the usage. The resale value varies between a range of Rs 4.65 to Rs 6.94 Lakhs. Both the cars are not older than three years therefore, many of the buyers treat them as new cars. Also, there are many customers who don’t want to wait for longer to buy a specific car model thus going ahead with a used car model. In Delhi, Maruti Swift petrol variant like LXI or AMT ZXI of 2014 and 2018 respectively will fetch a good amount between Rs.4 Lakhs to Rs 7.5 Lakhs. Mumbai also shows a similar graph as far as the resale value and age of the car is concerned. Whereas in Bangalore, a 4 years old Maruti Swift diesel high-end variant might get you a good ROI of Rs 5.80 Lakhs and a five-year-old petrol ZXI will fetch something between Rs. 5.3 Lakhs to Rs. 5.50 Lakhs.
There are a couple of reasons why it has been performing well in the used car segment:
- Availability of the cars
Easy availability of the cars leads to a balanced demand-supply ratio where if the supply is more than the demand of the car then the price of the car would go down and vice versa. It matters a lot if a particular car model is available in the market or not in deciding the highest bid of the car.
- Facelifts and Next-Gen Cars
Thanks to the frequent face lifts as well as next-gen car upgrades that the tenure of car ownership has come down to 4 to 5 years from 6 to 8 years and might go down further. Because owners are selling off their cars too early to buy next gen of the same model or to switch, the used car buyers are not shying away from purchasing almost a new car at half the market price. Maruti Suzuki Swift commands a higher position in the used car because of its long waiting. When the supply is low and demand is high, the price goes up.
- Easy and low maintenance
There is no other brand which can offer value for money like Maruti Suzuki. Maruti Suzuki Swift offers low maintenance and easily available spare parts thus, making the life of the buyer convenient. A used Maruti Swift car also gives good performance even after being used for 4 to 5 years. A new Swift diesel version claims to give 28.4 kmpl whereas a used Swift can give up to 21 kmpl.
- Mobility of the cars
It is a proper city car making the mobility suitable for the owner. It is a mid-size hatchback car, it’s a compact yet spacious car for a full-fledged family which loves to drive together. Swift gives around 17 kmpl on city roads which is proved to better than many brand-new cars.
It is interesting to see on the web that even 12-15 years old Maruti Swift is still being sold at a decent return. This speaks a lot about the car as well as the brand itself. Maruti has always excelled in after-sales services which makes the case stronger for most of the cars irrespective new or pre-owned car.