Due to the pandemic, the second-hand market has started gaining boom, and many great options are available for all the kinds of customers having a low budget or a high budget. But sometimes the cars available in the second-hand market are the second owner and customers feel a little bit of doubt and avoid purchasing it. So to solve the doubts of customers, we are here with an article that will clear all the doubts and questions arising in the minds of customers.
You need to first consider these things, whenever we get a good car in the second-hand market we must always check the condition of the car, check whether the km reading is actual or not, to find out these you need to ask the dealer to show the service records also you can always book an appointment in the authorized service center to do a self-check. You don’t need a mechanic for the basic check, you can do that on your own, various youtube videos are available from well-known and popular youtube channels. Then after doing the basic check, check the manufacturer and the year of the model, and the number of the owners.
some Manufacturers always have a high resale value even though the year is old or the number of owners for eg – Maruti Suzuki. You may think that since the year is old and the production has been discontinued plus 2 owners so the prices should be low, but here is the catch. As I mentioned earlier certain car manufactures have a high resale value, the price of that manufacturer will be relatively high if the condition of the car is good and well maintained and is 1 owner but if the number of owners increase the price will be slightly lower not much evn though it is very old . I would further like to explain with another scenario where the car is of the latest year or 3 to 4 years old and 1 owner also less driven but comes at a very very very lower price for eg – at that time the car was priced at a rs 5.00 lakhs but now when it has came after 4 years to sale and driven less under 50 k , the resale value is rs 2.00 or 2.50 directly 50 % less .
so in the second scenario even though the car is of latest year and less driven with a 1 owner price is directly 50 % depriciated cause the model or the manufacturer does not have a higher resale value .
Sometimes the car is been used by the single person but registerd in the name of the company but after sometime then the person transfers it in his name so this is another factor also that you need to confirm with the dealer .
In premium and luxury models also we get the cars having number of owners as 2 or 3 , but , in the premium cars as long as the car is in well maintained , in good condition , kms are geninue and regularly serviced by the owner at authorised service centre there is not a problem at all for purchasing the same
Now let us understand how the depriciation works .In used car market whenever the car comes , the price is alredy depriciated and not only in second hand market ,but also if you take your new car out of showroom , the price is alredy 5 to 10 % depriciated . so if you think you may get a lesser price after purchasing a 2 owner car , so answer to this is no but yeah if your car is well maintained , good condition in scratchless and mint condition and your manufacturer has a higher resale value , you will definetely get a higher price and if the case is opposite ie has lower resale value then also you will get a fair price .
while talking about third and fourth owner , the case is same , but oce your car has crossed 4 owner the car needs to be scrapped . Sometimes the dealer from whom you have purchased the car offer you a buy back in which you can exchange your 2 owner or 3 owner car to a brand new car .
