Buying a Used Sedan at Price of a New Maruti Swift: Pros & Cons
If you had a budget of Rs 7 lakh, what would you pick? A new premium hatchback or a used mid-size sedan?
It’s all about looks and social status. If you are in the market for a premium hatchback like the Maruti Swift, with a budget of about Rs 7 lakh, you could be tempted to look at a used mid-size sedan as well, like a Honda City or Hyundai Verna. Does it make sense to look for a used car, when you could buy a brand new premium hatchback?
The temptation to upgrade is a strong draw. But there are pros and cons to both – a new premium hatchback as well as a used mid-size sedan.
Pros of Buying a Used Mid-Size Sedan
A new car loses value pretty quickly, thanks to depreciation. This means a brand new top-end Honda City ZX, which costs about Rs 15 lakh on-road, would lose 15 percent of its value in the first year itself. In fact, it loses close to 10 percent of its value the moment you drive it out of the showroom. Hence, as a buyer you will get good deals on a four-year-old used Honda City, at the price of a brand new Swift.
A four-year old Honda City would have done about 60,000 km on the odometer, which means it still has plenty of life in it. It won’t give you any mechanical trouble for at least another lakh km.
It will have far more features and space to offer compared to the Maruti Swift. It is also more powerful and better fun to drive than the Swift.
The Honda City is a more spacious car than the Swift, and will make it easier to carry five adults and luggage on long road trips. And, of course, it will stand out for those who value ‘social status’ over everything else.
While the temptation to pick up a used mid-size sedan instead of a new premium hatchback may be huge, there are some cons you should think of.
Also read: SUVs Under Rs 10 Lakh: Spoilt For Choice
Cons of Buying a Used Mid-Size Sedan
New is new, period. The pleasure of owning a new car is not the same as a used car – especially for those who love that smell of a brand new car. But that’s not the biggest downside of buying a used car. There’s more.
A used car, that has done over 60,000 km, would need a little more maintenance. You lose out on the free-services that new cars enjoy for the first year or two. It is likely that you would have to replace the tyres, battery, and perhaps even some suspension parts on a car that is about four-years-old.
You would never really be sure of the car, even if you have studied its service history and done proper due diligence before buying it. There is no telling what kind of mishaps the car may have gotten into or how it has been driven by the previous owner.
Most cars would have had their warranty run out by the fourth year. This would mean that if something were to go wrong with the car, all expenses will come out of your pocket. In some cases, depending on the model of car you buy, some parts may even be in short supply, and that would result in significant down time for the car.
And there’s always the social stigma of not owning the ‘latest’ model. Most car manufacturers revamp or facelift their cars every three to four years, and you could be stuck with an older model car, which perhaps may not have as many features as a new premium hatchback.
So while the temptation to buy a used sedan may be quite high, it would probably give you better peace of mind to settle for a brand new premium hatchback, right off the showroom floor.
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