Tuesday, 18/6/2019 | 7:46 UTC+0
Punky Jaine

Used Car or New Car: What Is a Better Purchase?

Used Car or New Car: What Is a Better Purchase?
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The number of used cars being sold in India today is like a wakeup call to the market. Used cars are giving a tough competition to the new cars in the market. Used or pre-owned cars have found a new admiration with the middleclass of the country. In fact, a lot of car owners will tell you that they chose to buy used Hyundai Santro Xing in Bangalore as their first car and only after using it for few years, they bought a new one.

So what are the benefits of purchasing a second hand Hyundai car?

Pay Less Compared to New Car

As compared to the brand new car, the used cars can be brought at lower price. The valuation of the car will depend on its year of manufacturing, the kilometres covered, and condition of the car, it is still a cost effective option for many people. The depreciation on used cars is also slower which means you lose less money less quickly.

Pay Less Tax on Used Cars

The sales tax that is applicable to a used car is a lot different than the one that is applicable to a new car. Just because the purchase value of the new car is on the higher end you end up paying higher amount in taxes. That is not the case with used car.

Save on Extra Features

News cars come with a lot of extra features that are chargeable to the owner. However, they do not add any value to the car’s resale value. A second hand car owner can get these features for almost no extra cost.

Pay Less for Registration

Since the registration fees depends on the value of the car, the second hand car owners have to pay less. They make some savings there.