It is safe to assume that one of the primary goals in everyone’s life is to have access to resources that make life much more comfortable. A major step towards achieving this is investing in your own car. Not only does this make regular commuting easier, but it is also an incredible asset you can use for fun vacations with your loved ones. Most middle-class families own cars in a country like India since millennials prioritised this investment over many others. Ever since second hand cars have been in high demand as the benefits they provide are much higher than the ones provided by brand new cars.
Here are some of the reasons why millennials choose to invest in second hand cars instead of new ones:
- Cost-Effective: One of the biggest benefits of second hand cars is that they are generally much cheaper than brand new cars. With the used car industry being more prominent than ever, you can surely find a well maintained second hand car and drive it home without taking a chunk out of your finances.
- Savings: Buying second hand cars also helps you save in many ways. The insurance rates for used cars are much cheaper than that of new cars. This is because the premium amount of any car reduces as its age increases. Additionally, you will also not be required to pay any additional charges like road taxes, registration fees, RTO fees, etc., as these charges have most likely been paid off by the previous owner.
- Slower Depreciation Rate: The resale value of any car starts reducing as soon as it is driven out of the showroom and continues to depreciate for the initial couple of years at a steady pace. After these years, the rate still depreciates but at a slower pace. If you buy used cars, its depreciation period has mostly passed, so you will be able to resell your car at a great resale value anytime.
- Variety: The used car industry in India is currently bigger than ever, with more and more people opting for second hand cars. This also means more and more people are selling their previous cars for new ones, ensuring there is a huge variety of cars in the market. You can browse through countless different variants and have your pick anytime.
- Great for New Drivers: Buying a used car is generally better for learners and new drivers as there is much less at stake. You can feel free to drive it confidently, which is often not the case for learners in brand new cars. Driving new cars tends to be a huge step forward that is more comfortable for experienced drivers.
The above mentioned benefits of buying second hand cars prove that investing in one is an extremely smart decision. Take a look at the range of second hand cars available on Spinny, a certified used car dealer. They have an extensive range of cars with many benefits such as a 5 Day Money Back Guarantee, Fixed Price Assurance, 200 Points Inspection and more to give you the best experience.