If you have noticed, ‘purchase’ itself is a big word in India. Think of it, any purchase (big or small) is made after considering the opinions/perspectives of so many people our country. This especially applies to the purchase of a car.
A common question that arises before making this purchase is – Should one buy a pre-owned car or a new car is a good purchase? Clearing a bit of confusion here, read further to make your best bet!
Young Learner or a Learnt Professional?
First things first. You need to decide upon who is going to drive your new car. If it is someone who drives well and has already driving experience on different types of roads, then you must buy a new car. But if it’s a new learner that is going to drive your new car, then it is advisable to buy a pre-owned car. The reason being, a practiced professional won’t harm the car. But there are chances that an amateur might damage the car. Thus, in these cases, buying a pre-owned car can be the best bet.
Affordability, Budget & Savings
Another major factor that can help you in this decision is your budget. While buying a new car, you will be charged of the current market price, registration fees, road tax and RTO fees. On the other hand, a pre-owned car will cost comparatively less, and you won’t be charged of any additional fees. Hence, buying a new car will require much higher capital as compared to buying a pre-owned car. Additionally, you can get easy and time-saving finance solutions from Kuwy for pre-owned cars. This will help you lessen your financial load and save more money for your present/future needs.
A major expense incurred after the purchase of a car is its maintenance. Irrespective of whether you buy a new car or pre-owned car, you will have to spend a significant amount of money behind its maintenance. Hence, be extremely vary of this expense before making this decision. When you buy a new car, the maintenance fees will be nearly same for all brands. But the fees vary in pre-owned cars. Our advice is to buy a well-maintained car from a verified owner. Ask for all the documents, verify it personally, and then make the decision to buy the car. Such an informed decision can reduce your costs and help you save in the long run.
Depreciation rate is another factor that contributes to your decision of buying a new car or pre-owned car. As per experts, the depreciation rate of a new car is about 20% per year. They also say that maximum depreciation of a car happens in the first 3 years. After that, it stabilises up to some extent. On the other hand, as a pre-owned car is well past its depreciation years, there is nothing much to worry about. Hence, whenever you decide to sell the car, you will get a reasonable amount in return. This won’t happen with a new car, causing losses to you over a period of time.
At Kuwy, we arrange pre-owned cars for our customers from verified dealers and provide financial solutions and pre-approved loans to our customers. All of this can be done quickly by downloading our Kuwy app! So, download the app on your android or iphone today!