A lot goes into buying a car. It is one of those decisions that you cannot make on a whim; after all, your car will stay with you for several years, and you are bound to spend many hours in it. So, it is only natural to invest time and thought before making a final decision. One important aspect of this decision is considering whether or not you want to buy a pre-owned car. While driving a swanky new car is an exciting prospect, choosing a pre-loved car has its perks as well. A new car gets devalued by 20% in a year, for starters, which means purchasing a pre-owned can be a financially wise decision.
If you are considering a pre-owned car, here are some benefits that might tilt your thoughts further in its favour.
1. Increased savings
The foremost advantage of opting for a pre-loved car is its lower price tag and getting better value for your money. On average, a car is used for five to seven years, which means that if you bought a car at Rs 7 lakhs and it depreciates by 20% every year, its depreciated value will be about Rs 3 to 4 lakhs by the end of the fourth year. This means you can purchase a pre-owned car of your choice at a much affordable rate and increase your savings.
While it sounds like a deal, it’s not uncommon to have some apprehension about buying a pre-owned car. But this decision is less stressful to make if you approach a reputable pre-owned car dealer, like MG Reassure. Backed by the MG Motor brand, MG Reassure is a certified pre-loved car program that extends a convenient and transparent buying process for its customers. Whether you are looking to get the best resale value or planning to buy a pre-loved Hector, MG Reassure has a solution for you.
2. Reduced Depreciation rates
As mentioned earlier, a brand new car depreciates at a much quicker pace than a pre-owned car. But why is this so? Well, like any other equipment, a car’s value decreases as its use increases. As you continue to use a car, its wear and tear increase with time, as does the cost of maintaining it.
In the above example, the buyer of the Rs 7 lakh car sees the car depreciate by Rs 3 to 4 lakhs in the first four years of buying the car. Assuming you buy it in the fourth year and keep it for 11 more years, the total depreciation would amount to only about Rs 3 lakhs or so. Thus, with a pre-owned car, you can avoid the massive devaluation that a car goes through in the first few years of its life.
3. Minimise additional charges
When it comes to buying a new car, certain one-time expenses can cause a significant difference between the ex-factory price and the showroom price of a new car. But while buying a pre-owned car, you don’t have to pay these expenses, prominent among which are the registration charges, RTO road tax, etc. Next in line comes accessorising your car. A new car owner often buys additional basic accessories, such as a music system, seat covers, floor mats, GPS, parking sensors, etc. Most of these, however, are included in a pre-loved model. You need to fit only residual accessories that you are particular about. This prevents you from having to shell out extra money to become a car owner or jazz up your car up with add-ons.
4. Affordable car insurance
The insurance premium of your car depends on different factors, and one of these is the written-down value (WDV) of your car. Just like depreciation, the premium amount tends to be higher in the first few years but reduces as the WDV of the car goes down. You can get the right kind of car insurance at nominal costs by quoting the vehicle’s Insured Declared Value.
5. Better car in your budget
An important factor to consider when buying a car is the cost of the vehicle. Most people prefer a pre-owned car if it is going to be the very first vehicle they own. This is because it allows them to buy a higher variant at a much lower cost than what they would have to pay for a brand new car. More importantly, they can do this without compromising on the features or quality. Thus, buying a pre-loved car releases a sizeable fund, enabling you to step up your choice of variant.
6. Certified by sellers
Buying a pre-owned car from a dealer or specialised second-hand car seller ensures the vehicle is tested by experts who certify the car’s condition. For instance, before being labelled a certified pre-loved car, all vehicles sold under MG Reassure undergo a thorough quality check covering 160 points. Launched to provide the best surplus value for cars that have been certified for not being accidental and having a full-proof service, every vehicle is maintained by authorised dealerships and refurbished with original MG spare parts.
Quality assurance is not the only thing you are offered with a pre-loved car. MG Reassure also provides a warranty for a minimum of three years on unlimited kilometres. You can also avail of roadside assistance and three labour-free services. Now, that’s what we call a thrilling troika! With all these advantages, there’s no reason why you cannot make a pre-loved MG Hector yours. Visit your nearest dealership or call MG at 1800-100-6464 to know more about this exciting venture.