The Usefulness of Buying Used

The Usefulness of Buying Used

"Why would anybody buy a used car when you can buy brand new one?" is a question I have been asked, more than once, when I advice people to buy used cars. The reasons behind this are aplenty. 

First off you can buy a much more premium car for the price of what you are planning to spend on your new car. When I say premium, I am talking about Audis, BMWs, Volvo's and the likes. One can argue that cars that have been driven for, say, 50,000 km and is pretty near the end of its lifespan. But this is not always the case. When buying a premium vehicle, they come with one factor that cannot be matched by cheaper vehicles. That is reliability and unmatched quality. These cars can run for upwards of 2 lakh kilometers without any problems provided that they are maintained properly.

Now the last part of it is very important. These cars demand routine maintainence and atmost care. But the good news is that owners of these cars take good care of these vehicles because they spent some amount of money on it! So they are not going to let their cars fall to disrepair.

Here is a conversation I had with one of my Advisee about the same:

"I am looking at buying a second hand car in the luxury segment. Can you  
suggest my options in 10 lakh budget please? Thanks in advance!"

This question is what inspired me to write today's blog on this topic. This is how I answered his query:

"You are making an excellent decision by deciding to buy a second hand luxury car! Something that most people do not know that such cars have high depreciation and the second hand buyer can exploit the benefits if you know which car to buy.

Here are my top choices:

1. 5th generation BMW 3 series is a jewel of a car, you get excellent performance and rock solid reliability with the German marvel. Try to get a post 2008 model, preferably the 320i petrol which has a stellar engine. If you want something efficient I would suggest the diesel which can give you equal riding thrills. There is something to watch out when buying a used BMW and that is break and cluch pad wear. These cars are expected to replace their break pads frequently, so make sure to buy a car that has at least 20000 km life left in them, as they are costly replacements, like the rest of the car.

Source: https://www.wheelsonedge.com/Article/156/Should-You-Buy-The-Fifth-Generation-BMW-3-Series-Sedan-

2. Honda Accord (2008-2012) which is in its 8 generation is a true cheap find. This pinnacle of Japanese Technology has been credited for its reliability and efficiency. Not a lot goes wrong with this car, but make sure to take a test drive on bad roads and listen for any unusual sounds as the European spec accord is likely to have some suspension wear. And if possible try getting it on a lift to see any underside damage that can be caused due to the low ground clearance. Note that the Honda Accord is only available in 2.4 petrol variant. Best part about the car is the value it offers at wait for it.... just 4 lakh rupees!!

source:https://en.wikipedia.org/wiki/Honda_Accord_(North_America_eighth_generation)

3. Toyota Corolla Altis is a very practical choice as it offers great reliability and efficient engines. The older gen altis can be got for as little as 3 lacks and the new generation( which I recommend) can be found for around 10 lacks. The car is very reliable so there is not a lot to look out for. The diesel is efficient and the petrol is good in town." 

Source:https://www.tradecarview.com/used_car/toyota/corolla%20altis/21656542/

As you have seen premium automobiles are not cheap to maintain, and break and clutch wear is something that is very common in most premium vehicles. Just a reminder. You too can can contact me with your queries by filling in the contact form in the home page

One number that must have really thrown you off your chair was the price I mentioned for the Honda Accord. This is not an isolated incident. Other premium cars such as Škoda Octavia, Škoda Superb, VW Passat offer you a premium experience at mindblowing prices. The best part is that others wont know that these cars are second hand unless you tell them because, as I mentioned premium cars are mostly impeccably maintained.

So hope you found this post both usefull and informative!