Benefits of Buying a Used-Hyundai Car in Bangalore

Posted on: Apr 4, 2022 | | Written by:

Benefits of Buying a Used-Hyundai Car in Bangalore

In a fast-moving city like Bangalore having a car is a basic necessity. Waiting in the long queue of public transport costs a lot of time and. One of the major reasons for not owning a car is the lack of sufficient finances.

There is no denying that buying a car can make a huge impact on your savings. Or perhaps, owing to the depreciating value of cars every year, you might be hesitant to invest in a brand new car. But no worries, there is always the option to buy used cars that provide you both the comfort of a personal vehicle and relief of a lesser investment. If you want to manage your finance wisely, buying a used car can be a wise decision.

As per Cars24, the used car industry is almost 1.3 times the size of the new car market. It is also expected that by 2023 the market will cross over to a 25 billion dollar industry. So, going for a pre-owned car is not really a bad idea. It may sound like a long process but given the quick depreciation rate, high insurance cover rate, and high car prices, buying a used car is still preferred by many. Especially for brands like Hyundai. Their cars have a great performance on road, are strongly built, and are extremely long-lasting. Hyundai car insurance policies also provide exclusive offers and discounts.

Let's see this example, a good condition 2018 Hyundai Elantra 1.5 SX (O) AT would cost around INR 12.42 lakhs in Bangalore. While the average ex-showroom price of a brand new Hyundai Elantra 1.5 SX (O) AT would cost you around INR 21.13 lakhs.

Why buy a Used car?

Buying a pre-owned car can prove to be a wise decision as many dealerships are available that sell reliable and good-conditioned cars. Here are a few more reasons why you should consider busing used cars:

1. Value for Money

Pre-owned cars offer a much better value in comparison to brand new cars. You can compare car models and prices among different used car dealerships and also opt for your choice of car. Since you will be purchasing the car from a private seller, the price would reduce by a prominent amount since there would be no middleman involved. You can also borrow a loan for purchasing the used vehicle.

2. Reduced Rate of Depreciation

Did you know that just a year after purchasing a brand new car, its value goes down by almost 20%, this is probably the biggest disadvantage of buying a new car. The market value of the car reduces very fast during the early years of the car. By purchasing a pre-owned car, you can easily avoid the fast rate of depreciation.

3. Increasing Inflation

Owing to inflation, cars are being quoted at a higher price by automobile companies. The brunt of inflation is directly passed on to the customers. In order to avoid it, investing in a used car is a much safer option.

4. Lower Registration and Insurance Rate

The price of insurance is highly dependent on the status of the car. For brand new cars, the cost of insurance is higher while for used cars, it is lower. Apart from insurance, cars also need to be registered, and a certain amount also goes there too. These prices depend on the value of the car. Hence, for a used car, the registration price is lesser. For Hyundai cars, you can check out Hyundai car insurance policies that are pocket-friendly and come with a lot of benefits.

5. Lesser Amount of Loan

Since pre-owned cars are quoted at a lower price, therefore, the amount that needs to be borrowed is also reduced. Some companies also offer used car loans to facilitate used car purchases and also offer attractive interest rates. A lower interest rate means the Equated Monthly Installments (EMI) also becomes lower.

Things to Keep in mind when buying a used Hyundai car in Bangalore

If you are considering purchasing a used car over a new car, do not worry, you are not the only one. India has witnessed an increase in used car purchases over the period of last few years. But you need to be vigilant while buying a used car since everything is not the same as it appears. Having an eye to spot fraudulent car dealers and separate out the good ones is important. Here are a few things that you should keep in mind while buying a used car.

1. Go For A Test Drive

Before purchasing a used car, ensure taking a test drive. The car should start smoothly without any untoward noise. Hop out of the car with the engine running and open the bonnet to check for smoke or oil leaks. Shifting gears should be effortless and the car must run without any jerk or excessive vibration.

Take the car out for a ride, feel the suspension. There should be no squeaking or trembling. Ensure to check every parameter before deciding to purchase the car.

2. Verify All Documents

If you find the car in good condition, the next step should be to check all the documents of the car. These are the important documents that must be present:-

● Registration certificate

● VIN and engine number must match with the registration certificate

● Insurance documents of the car

● Vehicle Service Book

● Road Tax Certificate

● Pollution Under Control Certificate

● Loan NOC, if applicable

3. Vehicle Modifications

Vehicle modifications are done in order to make them more attractive. However, you should ensure that all the modifications that are performed on the car are legally approved. The government of India restricts certain kinds of modifications like changing car colour, engine tweaking which can be considered illegal. Here is a list of modifications that cannot be performed on used cars in India-

● Fancy number plates

● Loud exhausts

● Roof modifications

● Engine mods

● Wide tires

● Body lifting kits

● Car colour

4. Pre-Owned Certified Car Dealers

Whether it is a luxury car or a used car, always check for the certificate of the car. Certification involves getting a license, however, most dealers avoid doing it. Buying a used car from a verified source would be the best decision.

5. Take A Mechanic With You

Unless you are an expert with cars, it is always best to take an expert for testing the car and checking every small feature. Though they will charge you some money but increase a lot of hecticness.

Conclusion

The thought of buying a used car might be tempting and feel less hectic, but think again. When you purchase a brand new car from a showroom, the car is checked, stamped, and verified before selling. For any issues, you can directly contact the showroom, however, the case is not the same for used cars. You will have to verify everything personally before making the purchase to ensure a wise investment.

Buying a pre-owned car over a new car can be scary in some ways, so ensure that you check all the parameters and test drive it before purchasing. Remember to check for all the features and Hyundai insurance policy papers of the car before making your final decision.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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