When Buying A Used Car May Be The Better Choice
Outlook Money|June 2023
You may buy a used car if that's what you need, provided you can spot the fake from the genuine parts and possible issues waiting to ruin your trip
Sutirtha Sanyal
When Buying A Used Car May Be The Better Choice

When Faridabad-based Raman Sharma, 49, an IT professional, was posted at a remote location in Uttarakhand in 2011 for a wide area network (WAN) project, he decided to buy a used car for his daily needs there. "We had bought a new Honda City a year before my posting. My wife started using that car when I shifted location. For the initial few days, I somehow managed, but because of the remote location, treacherous terrain, and inclement weather, I decided to buy a used car." Raman sold off the car after his three year stint got over.

In India, used cars are primarily bought for servicing certain needs, including temporary usage like in the case of Raman, or to learn to drive, or, as the family's second or third car. For most people, small vehicles suffice for these needs. But, nowadays, many first-time buyers in the luxury segment also prefer a used car. The word on the street is that states adjoining Delhi are teeming with used cars, especially luxury models. Diesel vehicles over 10 years old and petrol vehicles over 15 years old are not allowed to ply in the national capital region (NCR).

Says Balbir Singh Dhillon, head of Audi India: "Buyers are typically first-time luxury car owners, young professionals, and young couples, but many families also buy pre-owned cars as the second or third family car."

Adds Shashank Srivastava, senior executive officer, marketing and sales, Maruti Suzuki India Ltd, "Nowadays, we have seen a trend that customers are preferring quality used cars in the premium hatchback or entry-level sedan segment over new entry-level cars as their first car."

Denne historien er fra June 2023-utgaven av Outlook Money.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra June 2023-utgaven av Outlook Money.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA OUTLOOK MONEYSe alt
Here's How To Claim Tax Refund If You Missed The ITR Deadline
Outlook Money

Here's How To Claim Tax Refund If You Missed The ITR Deadline

The Income-tax Act, 1961, allows the refund of any excess income tax deducted on your income beyond your actual tax liability.

time-read
1 min  |
September 2024
26 Spiels You Should Not Fall For
Outlook Money

26 Spiels You Should Not Fall For

We have a list of 26 traps that you should avoid in your journey to creating wealth

time-read
10+ mins  |
September 2024
Unified Pension Scheme
Outlook Money

Unified Pension Scheme

The Union Cabinet approved the Unified Pension Scheme (UPS) on August 24, 2024, guaranteeing 50 per cent of the salary as assured pension for central government employees.

time-read
1 min  |
September 2024
Unlocking Financial Freedom with Freedom SIP: A Beginner's Guide
Outlook Money

Unlocking Financial Freedom with Freedom SIP: A Beginner's Guide

Freedom SIP is the smartest way to finance your retirement because it allows you to ride the compounding rocket to build wealth, even by investing a small monthly sum.

time-read
2 mins  |
September 2024
Asset Allocation Strategy to Safeguard Against Market Fluctuations
Outlook Money

Asset Allocation Strategy to Safeguard Against Market Fluctuations

Invest in different asset classes, such as equities, debt, gold, etc., so that if a particular segment doesn't perform in a given situation, others will come to the rescue.

time-read
2 mins  |
September 2024
The Role of Asset Allocation in Investing
Outlook Money

The Role of Asset Allocation in Investing

A proper mix of asset allocation that aligns with investor's goals is key to the portfolio's long-term performance and reaching milestones.

time-read
4 mins  |
September 2024
Why Retirement Planning is Crucial in Life
Outlook Money

Why Retirement Planning is Crucial in Life

Retirement planning is the key if you want a financially secure life in your sunset years.

time-read
2 mins  |
September 2024
IS SENIOR HOUSING FOR YOU?
Outlook Money

IS SENIOR HOUSING FOR YOU?

Many seniors have taken refuge in senior living facilities in their twilight years as their children have moved abroad. While that may help them ward off boredom, they often come at a huge cost

time-read
7 mins  |
September 2024
WITH OR WITHOUT INDEXATION: WHEN DO HOMEOWNERS PAY LESS?
Outlook Money

WITH OR WITHOUT INDEXATION: WHEN DO HOMEOWNERS PAY LESS?

Calculating taxes under both methods-considering inflation and property appreciation-can yield a more precise result

time-read
4 mins  |
September 2024
Flexing Its Way Across Market Cycles
Outlook Money

Flexing Its Way Across Market Cycles

Very few funds meet investors' expectations of delivering superior returns across market cycles, and HDFC Flexi Cap Fund is one of them.

time-read
1 min  |
September 2024