| Used Cars Market |
Today,
more people prefer to buy a used car, than a brand new showroom
car.
The used car dealers and brokers feel that this shift is mainly
because of the following reasons: |
-
Sluggish economy and market conditions are
discouraging potential new car buyers, who are happy to settle
for used cars.
-
Availability of quality 2nd hand
cars in the resale market. (Cars repossessed by Finance companies,
and cars obtained by dealers in exchange / buyback schemes,
are available at bargain rates.)
-
The fear of threat from underworld extortionists.
(Due to which, a lot of premium car owners have changed their
bigger & attractive car for inconspicuous and common car
models.)
-
Dealers and brokers are tagging lower commissions
to facilitate transactions. (Unlike the past when the dealers
could invest in a 2nd hand car and keep holding the
car till they got a hefty margin / commission, today, with tighter
liquidity, they prefer lower margins and more turnover.)
-
Some customers are avoiding buying a new car,
as the changed rules, require them to produce a PAN number -
issued by the Income Tax authorities. Those who do not possess
a PAN / GIR No. have to submit a declaration (Form.No: 60)
| Used
Car Buying Tips |
Its best to buy a car from an owner who is graduating to a bigger,
better or a newer car
The year of manufacture is less important than the mileage done
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