The Indian car market has a lot of scope for all players because of the diversity of needs across the country. There are different vehicles for different purposes and with the entrance of so many brands in recent years, it has become even easier for people to choose the right car for their needs.
Nowadays, the craze for luxury cars has gone up. There are many factors attributing to this paradigm shift. Online marketing and advertising, affordable pricing, and better resale values are some of the key factors affecting the luxury car market in India. Since India is a price-sensitive market, people tend to find ways to buy their dream luxury car within a limited budget. Let’s dive deeper into key things to keep in mind while making a budget purchase.
Is it worth buying your dream luxury car?
Premium car manufacturers like Honda, Skoda, Volkswagen, etc. have introduced a number of vehicles suiting the budget and needs of a diversity of customers. In spite of this, there’s a particular chunk of car enthusiasts that still believe in the long-term benefits of buying a luxury car. Luxury cars nowadays are more advanced, comfortable and safer than their predecessors. Although premium car manufacturers are trying to incorporate new features in their products, they cannot compete with the luxury car segment. Buying your dream luxury car is definitely worth it because of the following reasons:
• Reliability and brand recognition
• Excellent comfort
• Advanced, top of the line control system and software
• Design as per international safety standards
• Long term benefits such as low maintenance cost
• Powerful and efficient engine
Why not Think once for a Used Luxury Car
Alright, we agree that luxury cars are expensive and you need to shed a lot of money on the insurance and add-ons. But, is it really necessary to buy a brand new luxury car? Absolutely not! With more and more car units in circulation in the market and more new models being launched, luxury car owners are moving from an old car to a newer version within 3-4 years. Hence, there’s a high chance that you can land a fantastic deal while trying to buy a used luxury car.
i. Used luxury cars are getting popular
Used luxury cars are getting popular day by day because of better visibility. As more and more people have access to the internet, they have started looking for better options available in the used luxury car segment. Moreover, since new variants are being launched frequently, vehicles that are 3-4 years old are getting replaced easily.
ii. They Come Under your Specified Budget
Used luxury cars lose nearly 50% of their value within the first 3 years owing to depreciation. Thus it is very easy to find a fairly maintained pre-owned luxury car at the price of a brand new top-end premium car in the market.
iii. Basic Research About your Target Brand and Model
Before committing to buy a used luxury car, you can do basic research about the brand and model which best suits your needs. You can first decide your priority, budget, and specifications, and then start your research on these grounds. With the top three German manufacturers dominating the Indian luxury car market, it is not much difficult to find the right ride for your specific needs.
iv. Dealership Research
Post-2015, many organized players have entered into the used luxury car market. Although the unorganized agents and dealers still make up to 85% of this particular segment, organized dealers make sure that stringent quality checks and inspections are done on a used luxury car for sale before it reaches the customers. You can search online about the best dealerships near you and go through the reviews of previous customers.
v. Take a Luxury Car Expert Mechanic with you
The next step while selecting the best-used luxury car is to take a skilled mechanic with you for inspections. The mechanic must be trusted and must also be familiar with the brand and model of the car you intend to buy. This is a smart step as a seasoned mechanic can find hidden faults at a nominal price, and these points can be used for negotiations.
vi. Previous Owner History and Vehicle History
Whether you are buying a used car from a renowned dealership or a local agent, you must check all the documents carefully. Ask for previous owner details, their occupation, and the purpose of buying the vehicle. Also, search for accident history from the local police station and check all the insurance claims taken to date.
vii. Take a Full Test Ride
Always take a test drive, preferably with the mechanic and the dealer representative to look for faults. During the test drive, look for faults in the instrument cluster, check the infotainment system, observe unusual sounds/noises, observe the suspension response over rough roads and finally check for transmission and throttle faults if any.
Buying a pre-owned luxury car within a limited budget has become easier in recent times owing to the range of options available in the market and their visibility online. Local garages can help you find an incredible deal, but always be aware that a luxury car always comes at a premium cost, be it used or brand new. In the end trust your gut to find the best ride for your need within the stipulated budget.
Stay tuned to our blog for the latest updates on the luxury car market trends and new dealerships near you.