Top Things that Developed India Car Valuation Industry

The used vehicles are poised as ‘cream of crop’ and are considered best in terms of user friendliness and cost effectiveness. Ever changing technology always comes with new models of cars and therefore the newest models have gained popularity and urge in the users. Keeping in view the changing trends, people often do not want to throw money like a gamble on the new cars. Indian used car industry has offered so many benefits to users giving a steep rise in the car industry. Millions of used cars sold and leased annually in India. Many used vehicles are passed on to auctions and dealers. The resale market comprises the proprietors willing to buy and the rental and lease companies for their businesses of car leasing and reselling.
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Indian Valuation industry is highly valued because of its benefits offering to the users and few of the benefits are:

  1. Depreciation: Used vehicles account less depreciation and that is the major advantage to pick a used vehicle. The experts at  Kelley Blue Book in conformity with the depreciation pattern predict that the value of a new car depreciates by as much as 73 percent of its original value  in three years and will retain a mere 62 percent of its original value by then.

Car depreciation is the terrible thing happening to the value of a new car and first year tends to be more hurting as the depreciation is greatest in first year as compared to subsequent year wise depreciation of 15 to 20 percent of original value. In fact, the moment the cars are driven off the lot it will cost car owners up to 15 percent of their new vehicle’s worth.  

  1. Disposition of steepest part of new cars cost: In case you're a car buyer and are unwilling to throw away cash on vehicle for a new car then regard a high-quality, late-model but a utilised car. This will lower various costs like purchasing cost, registration costs and license fee as the past owner has already absorbed the unreasonable depreciation cost.

  1. A great deal for money:  If you are a tyro or amateur learning the driving or are concerned about the money then probably buying a used vehicle is the best alternative for you. It can save you money because first cost price unarguably would be lesser to new and second the loss experienced by the new vehicle within the first 12 to 18 months is the highest. It is not a wise decision to sit and see your hard earned money showing the significant decrease, instead consider buying a used car. Buying a used car will assure your lower monthly payments with an additional advantage of warranty. Buying a used vehicle also gives a facility to customize your old car and upgrade it with optional features.  

  1. Low Mileage: The used cars sold by the enterprises are one to two years old. This ensures a collection of vehicles that are not too old, stylish, and modern and could be sought after. As far the mileage is concerned, these used vehicles have generally less than 40,000 miles to be eligible for resale.

  1. Hassle free buying:  A tremendous value is provided by used car industry. All used vehicles are sold with a no-haggle policy. The buyers have no tension of elevated price of unfair negotiation practices by dealers.
In the nutshell, we can say that the Indian car valuation industry is radically reshaping the Automobile Industry and this expands the network of vehicle manufacturers and dealers. The revenue is one of kind achievement in industry and is well capable of overcoming years of inertia and complacent India’s success. This concept certainly will bolster the corporate strategies and extend the brand value globally. Buying new car might not be reaching to the pocket of every user but certainly is shaping the dreams as used car industry has filled the demand-supply gap and covers the high fixed costs. Dealers’ network is a gap abridger in demand-supply model. The network also protects the interest of the buyers. The inventory, cost, discounts, offers, maintenance intensive everything possible relating this phenomenon is in place because of this trend. So make a smart move and buy the used cars next time

About Basheer Ahmad

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