India is no stranger to luxury cars. During the British Era, when there were no Indian car manufacturing companies, foreign companies such as Morris and Rolls Royce were the suppliers of cars in the Indian market. With the Swadeshi movement and thereafter independence of India, the importance of foreign made cars reduced. However, when the Indian economy was thrown open and made a part of globalization, foreign cars such as Honda, Ford, Toyota, Hyundai and Chevrolet made a foray into the Indian car market. Foreign car makers too started treating India as a growing and formidable market and they too started supplying cars to the India’s car market. Today, a large number of luxury foreign car brands are available in the country such as Mercedes Benz, BMW, Audi, Range Rover, Jaguar and Bentley. These cars not only perform well but are also a class apart from others in terms of comfort and looks.
Undoubtedly, the Indian market is one of the largest for Indian car makers. Mercedes Benz treats the Indian car market as the second highest growing market even though it sells only 10000 or so units in a year. Such is the potential of used luxury cars that the top luxury car brands of the country have already started their certified used car lines. The trend was started by Mercedes Benz with the Proven Exclusivity line in June of 2010 and it was followed by BMW with the Premium Selection and Audi as well. These lines offer warranty for the cars sold for 2 years and 100,000kms whichever is lesser. Some of the certified used car lines offer different warranty conditions as well. BMW used cars buyers can also avail of the BMW India Road Assistance which is available 24X7 and 365 days of the year. The cars that are sold by these companies are not more than 5 years old and they are also refurbished and checked prior to sales. The used car dealerships were started with the intention of enticing people to trade-in their old cars for premium quality ones.
If you have a budget of Rs 20 lakhs or so for buying a car and are confused between brand new C segment cars or luxury cars, then it would be best if you opt for used luxury cars. For this budget, you can buy good quality Mercedes Benz and BMW used cars which cost around Rs 25 lakhs to Rs 30 lakhs. The value of cars depreciate once they are out of the showroom and hence upon losing their value, these cars become lucrative deals for those with a budget of Rs 20 lakhs for buying a car. Not only does owning a Mercedes Benz a status symbol but also it is a better performing car. Compared to a Toyota Camry or a Skoda Superb, a Mercedes Benz would provide your better performance and last longer. Moreover, if you opt for purchasing the car from a certified luxury car dealer, then you would not have to worry about the quality of the car also because it has been ascertained by the dealer. Expensive luxury cars are not usually chauffeur driven and owners take a lot of care when they drive around these cars.
The luxury used car market is increasing at a lightning pace and it is evident that the market would become an important one in the coming future. Luxury cars currently form only 5 percent of the used car market, but their growth has been pegged at 35 percent which shows that it is slated to become important in the coming future.
Financing options for these cars are also quite a few. Financing companies are quite eager to offer loans to customers of used luxury cars because they are usually ones with good credit history and loan repayment records. Most of the buyers of used luxury cars are those who want to upgrade from C segment cars such as Skoda Octavia or the Honda Civic. The interest rate at which financiers offer loans to used luxury car buyers is around 11 percent which is comparable to the rate that they would be offered to buy a car of similar price. Usually, financiers offer loans for affordable used cars at 15 percent or so. Because of the faith they have in used car buyers, they offer them at lower prices.
BMW used cars can not only be bought from the certified luxury used car showroom but also from online car selling websites. These sites have listed on them not only the popular used cars but also brands such as Porsche, Mini Cooper, Land Rover etc. The price bracket in which these cars are available is around Rs 20 lakhs to Rs 35 lakhs. The contact information of the seller is also made available on the website so can get in touch with the seller to find out more.
Prior to buying used luxury cars, buyers must ascertain the condition of the car by driving it around. Test driving the car on both highway and city roads would allow you to assess how the car performs. Listen for sounds when you fire up the engine, suddenly brake the car or go over speed breakers. If you here vibration from the engine or noise, then you should avoid these cars as they may have some problem with their engine.
You can also use the online price calculators for cars in order to find out the true price of a luxury car. All you have to do is enter the specs and the website would show you the best price for the car.
Buying used luxury cars can be quite beneficial because they shall perform well and last longer than other less premium brands. They are a status symbol and most of these cars have been maintained well, which is why you need not worry about a noisy engine or a shot suspension. With careful selection, you can get the best possible BMW used cars for yourself.
The sales of second hand cars are increasing not only in top tier cities such as Mumbai but also tier II cities. The elevating price of first hand cars and the high interest rates along with the need to jump segments and own multiple vehicles are making families turn to the second hand cars market. In the fiscal year 2012-13, the used car market grew by 17 percent, while in 2013-14, the growth was around 19 percent. In 2014-15, the current growth has been slated at 15 percent and it will continue to be in double digits according to second hand car sellers. Maruti Suzuki has sold almost 1.9 million cars, which makes True Value the fourth largest car company in the country, had it not been a Maruti Suzuki subsidiary.
Most car manufacturers have entered the second hand cars market with the certified used cars dealerships. Maruti Suzuki began this trend with the True Value. Now, Hyundai, Toyota, Ford, Mahindra and Mahindra have their used car lines in the country, spread across different cities and semi-urban areas. These dealerships stock cars of all makes and brands and they are offer lucrative offers such as warranties and free servicing sessions. Buying used cars from these dealerships is an advantage because you can be assured of the quality of the cars. The cars sold by these dealerships are inspected on a number of grounds. For example, Maruti Suzuki conducts its inspections on 120 different points. These companies also handle the transfer of ownership title of the cars.
The used cars market functions in a similar manner to the new cars market. For example, the demand for light coloured hatchbacks is more than that of sedans. Most buyers feel hatchbacks are most fuel efficient and they are also easy to park and maneuver. Their affordability is also another factor which influences buyers in their favour. The number of hatchbacks available in the second hand cars in Mumbai market is numerous and you have a wide range to pick from.
The top hatchbacks that you can choose from have been listed here.
Maruti Alto 800
The car was launched in October 2012, after Maruti Suzuki withdrew the Maruti 800 after a long run of 28 years. The Alto 800 has been selling very well since its launch and in 2013; almost 1.7 lakh units were sold which made it the most selling car of 2013.
The Maruti Alto has a 796cc engine hooked to a 5 speed manual transmission gear box. It can seat five people, although in a cramped fashion. The car has been given sharp edges in order to make it look sleek and appealing. It is available in petrol, CNG and LPG variants.
In order to buy the top trim of the Alto 800, you would have to spend around Rs 3.8 lakhs. However, in the used car maket, you would get the same car for Rs 2.5 lakhs or so. It would be quite advantageous for you to opt for this model because it has not been in circulation for too long and hence you would find a car in mint condition quite easily.
Hyundai Eon
The car has been created by Hyundai exclusively for the Indian market. It looks sleek and is in direct competition with the Alto 800. The car has almost 8 trims available in the market and in order to buy the best trim, you would have to spend around Rs 4 lakhs. However, in the used car market, it would be available for Rs 2.8 lakhs only. Buying the Eon would be quite profitable for the same reason as the Alto 800.
Wagon R
The Maruti Wagon R has been around for more than a decade and the tall boy design of the car has been well appreciated by the Indian drivers. The car’s design was borrowed from a car produced by Suzuki in Japan. It has an engine of 998 cc which has been hooked to a manual transmission 5 speed gearbox. The car comes in petrol, CNG and LPG variants. A Duo variant is also available which makes use of both petrol and LPG. Maruti is slated to launch a diesel version of the Wagon R later in 2014 for Rs 5.5 lakhs.
In order to buy a Wagon R, you would have to spend at least Rs 2 lakhs. You may have to spend more depending on the year of manufacture of the car and also the number of kilometers covered. Since the Wagon R has been around for some time, you may have to research adequately into the second hand cars in Mumbai background (year of make, number of kilometers traveled, service history etc.) of the car before buying it.
Sedans are the next pop pick in the second hand cars in Mumbai market. The popular sedans in the market are:
Maruti Suzuki Swift Dzire
The Swift Dzire is the best selling compact sedan in the Indian market. In recent times, it has been facing tough competition from the Honda Amaze and the Hyundai Xcent. The car was launched in 2008 and looks a lot like an elongated Maruti Swift. The car has a big enough boot space and comfortable seating. It is ideal for both city and highway driving.
To buy a first hand Swift Dzire in Mumbai, you would have to pay at least Rs 7.5 lakhs, for the best trim. However, by spending only Rs 5 lakhs, you can get it in the used car market.
Honda City
Considered to be one of the most iconic sedans of the Indian automobile market, the Honda City is available in a number of trims, including a diesel engine. The 1.5L i-VTEC petrol engine car can seat five people at ease and is a pleasure to drive both on highways and city roads. The car has been launched with an i-DTEC diesel engine as well.
A Honda City which is around 5 years old is available in the pre-owned cars market for Rs 7 lakhs or so. You should research adequately into the model of Honda City that you choose to buy because Honda City models are upgraded every five years or so.
