5 minsJanuary 27, 2019
If you are looking to buy a pre-owned car, this is probably the right time. The reason is not difficult to understand. Fundamentally, the moment a new car leaves the showroom, its price starts to depreciate. And as the calendar ticks over to January,
every year prices of older cars depreciate faster. This is because automobile manufacturers tend to release newer models in the New Year. Therefore, the time is ripe for you to book a pre-owned car. Moreover, Axis Bank offers you its pre-owned car loan.
Let’s look at India’s most popular pre-owned cars, across segments. But before that a disclaimer. Unlike the new car market, the pre-owned car market in India is mostly unorganized. There are an estimated 30,000-35,000 used car dealerships
in India, (apart from the friendly neighborhood auto-mechanic who might also try and earn some extra money by dealing in used cars). As a result, unlike for new cars, exact data for used cars is not available, and the following information
is culled from various sources and auto-portals:
It has been 12 years, since Maruti Suzuki launched Swift, a hatchback that took the car market by storm. Its peppy 1.2L petrol and 1.3L diesel engine (launched in 2007), ease of handling, roomy interiors and affordable price meant that the car
soon climbed to the top of popularity charts.
This popularity has endured and according to most reports, Maruti Swift is the most bought used car in India. This is because of the easy availability of spare parts, apart from the features mentioned earlier, and a good re-sale value.
You will get a 2015 model Mumbai-registered Maruti Swift VXi for about Rs. 4.5-4.75 lakh.
Maruti Alto 800cc
This entry level hatchback was launched in the year 2000 and after 19 long years continues to be one of India’s most favourite cars. Its excellent mileage (24 kms/liter) is its biggest strength, along with an affordable price tag.
Not surprisingly, Alto 800cc is also one of India’s largest selling used car, typically bought by many first-time drivers/car owners.
A Mumbai-registered 2015 Alto 800cc LXI is available at a price range of Rs. 2.20-2.5 lakh
Since its launch two decades ago, Honda City with its combination of corporate styling and sporty features has been a hot favourite in the Indian car market. In the interim, the car has gone through several facelifts and updates, yet continues
to remain a top selling model.
In the sedan category, Honda City is one of India’s top selling used car. One key feature is that the car continues to fetch a good re-sale price and maintenance costs are quite low.
A Mumbai-registered 2014 Honda City VX Manual Transmission is generally available at around Rs. 6.8 to 7.2 lakh.
When launched, back in 2002, Mahindra Scorpio changed the dynamics of the SUV segment. Its rugged looks, muscular engine and ability to tackle difficult roads made it an instant hit. It has continued to be a best seller since, going through several
In the used car market, the Scorpio is one of the top selling models in the SUV segment, due to low maintenance costs and easy availability of spare parts.
A Mumbai-registered 2014 model Mahindra Scorpio S10 will set you back by about Rs. 10.25-10.75 lakh.
If you are interested in buying a pre-owned car, Axis Bank offers some great deals.
Disclaimer: This article has been authored by The Source, a Mumbai based content creation and curation firm. Axis Bank doesn't influence any views of the author in any way. Axis Bank & The Source shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.All prices mentioned in the article are indicative.