New things are more lucrative. An upgraded version of any object has got more features which makes them worthy of an extra penny. And they are eye-catching too. Makes you drool over it. Let’s take an example of phone you absolutely go nuts when there is an advanced variety is launched. The example is blown out of the proportion when you talk about a new car in the market. Given the scenario, with every year the number of cars are seen which are way better than what you own. Humans are always looking for new experiences and are ready to pay the prices too. But is that a wise call? Think about it! How manifold the money is spent to enjoy a couple of new features in a car. In the recent scenario, consumers don’t have a set definition of ‘What is the Best?” or they cannot settle with anything less. If you are clever enough you should know that a ‘Car is a Depreciating Asset’. Therefore, ask yourself if it makes sense to deploy hard-earned money on it or not. It’s important to be aware of the facts of how buying used cars market is becoming pro-consumer as well as benefit you in the long term.
#1 Saving Money
First thing first, you are not earning so that you can keep spending the money without giving it a thought. Therefore, buying a used car saves you a lot of money. It’s a fact that as soon as a brand-new car leaves the showroom, the price of the cars takes a dip to 20%. Imagine if you wait for a few months to pass to buy the new cars then you spend less. A new car after six months is not an old car. They wear-tear hasn’t happened yet which should concern you too.
#2 Certified Cars
The second-hand car market is gett8ing organized too. Therefore, it means that you don’t have to deal with the local dealers to believe in what they say. With OLX Cash My Car, you have options to buy the best of the used cars. They are inspected across 125 parameters by Cash My Car engineers to make sure the cars are well-maintained. With money, OLX Cash My Car also assures with peace of mind.
#3 Depreciating Asset
Car is a depreciating asset. No matter which brand you buy or be it the highest-end model the value of the car will keep decreasing. For example, most of the models are expected to lose it 50% of the value within the first three years of purchase. Therefore, it’s not an investment but a liability.
#4 Lower Insurance Premiums
Because Car is a depreciating asset, buying a used car will let you take some relieve on Insurance too. You will be paying less premium in comparison to the amount attached for a new car. Generally, Insurance companies prefer the Written Down Value method wherein depreciation is higher in the first few years of purchase. Therefore, when you are buying a used car which is not even 3 years old then you are saving on the premium.
When you think about purchasing a pre-owned certified car then you open your options too. Given the range of the pricing, you might not be able to buy an upgraded version of the newly launched car. Though this will not be the restriction when made up your mind to purchase a second-hand. OLX Cash My Car displays a variety of used cars which can be bought at a much lesser price.
#6 Re-saleable Opportunities
Thinking re-selling the used car you bought a few years back to move to a new? Then used cars are well accepted in the market. Obviously given the fact that you have maintained it a good condition. The prices being an offer by an organized organisation will be always better than the local dealers too. Or you can consider to sell it OLX Cash My Car which takes only 45 minutes to complete the process.
#7 Frequent Upgrades
That’s understood, right? If you have bought a second-hand car then you can always think upgrading to the newer and better type of cars more frequently. Buying a new car will always make the relationship longer because you would want to reach an ROI equation.
#8 Lesser Registration Cost
Registration is mandatory. The registration of a used car is much lesser than a new car. Though the fee might differ with the state to state administration as well as which car you have bought. These benefits might be ignored when you are buying a new car but always adds up to the hefty amount.
#9 Get more of what you want
Compare with your friend’s new car and if you are considering to buy a similar model but a pre-owned car. Any day you will be getting more than what he is utilizing. The simple math is your per unit or feature consumption is lesser.
#10 Less Customization Cost
Last but not least, if you are a car freak then customization might be your second love too. It costs you bomb when considering to customize a new car whereas a used car’s customization attaches nominal pricing to it.
There are more and enough reasons why the second-hand car market is growing and getting better at the numbers while auto-market has been sluggish. One of the important points to remember is to always buy certified cars which are tried and tested.