Various factors constitute the purchase decision of used/ pre-owned cars. However, the vital few factors which make them better than new cars are listed below
- More value for your money – Purchasing of high valued cars at extremely lesser price margin which otherwise would be a costly factor as the new car. Some people tend to use their vehicle for a limited usage and then sell it to purchase the next model of the same vehicle (Which is essentially the same engine with minor modification in the look).
- Financial availability – Availability for financing options for used cars. With the increase of pre-owned cars in the market, more and more companies have started financing the used car segment.
- Extended Warranty Claims – Even the companies have started to issue extended warranty plans for many cars which include the major decision factors of a car like an Engine and transmission.
- E-commerce Marketplace – With the advent of E-commerce in the information age, any information will reach the consumer doorsteps within seconds. This helps customers with a better choice for vehicles. E-commerce provides them with various marketplaces to interact with sellers and agents alike. Customers can even view the photos of the car and even the documents of the car which could help in boosting their purchase decision.
- Depreciation Value – Car’s value depends on the number of km it ran and the age of the vehicle. Some users drive rarely which leads the buyer to have more advantage in the purchase. Simple painting and aesthetical work will be needed to preserve a new look for those vehicles.
- Choice of Cars – There are more variety of used cars in the market which ranges from cost efficient small cars to huge and rough SUVs. Consumers can also have the access to the brands which they could not afford to buy a new car.
- Insurance Rates – Insurance rates for older cars are much lower compared to that of a new car. If you compare a Toyota Innova first model with that of the latest launch of Toyota, you would rather be shocked at their insurance price differences.
Added to these instances, nowadays companies are aware of the value of used car segment for which they have a separate division which serves the customers with older model cars refurbished under pre-owned programs. The used cars in Bangalore diesel model may vary from one type to another type must be carefully examined before the possession of it.
These are few of the vital factors that help customers in making a decision whether to buy a new car or to rely on pre-owned/used cars with a known brand. Product quality in the market is better than ever before.