Should You Buy New or Used Car in This Time of Pandemic

Confused if you should purchase a new car or used car this pandemic? Well, there are many factors to consider. Frequent lockdowns have not only resulted in unreliable public transport services but also an unsafe means of travel even with the implementation of precautionary measures. While the idea of purchasing a new car seems fascinating, let’s explore why purchasing a used car is a better option given the current economic situation:

 

Depreciation: The value of a new car starts depreciating the minute it leaves the showroom, so in 3 years it depreciates by 40%. But, a used car which is just 6 months old with a few kilometers on the odometer can be bought for 1 lakh cheaper. So it’s advisable to buy a used car which can be sold for almost the same price in a year or two.

 

Loan Amount: Since a used car is cheaper than a new car, the loan amount required to purchase a preowned vehicle is significantly lower. Preferring a used car not only lowers your EMI amount but also reduces the extra interest you will have to pay if you choose to purchase a new car. Thus, the burden on your wallet is drastically reduced.

 

Warranty: Purchasing used cars from certified dealers ensures its reliability. Certain certified dealers make sure that the car is thoroughly inspected and refurbished before selling them. Some of them are even covered with a warranty for repairs similar to that of a new car. Hence, there are no additional expenses on repairs and maintenance.

 

The CARS24 Advantage: Let’s explore some benefits offered by CARS24.

 

        CARS24 provides a technology-enabled catalogue and transparent pricing.

        It allows you to sell your vehicle in just 1 hour directly from your house or at CARS24.

        It offers the best prices based on the online auction.

        It offers a 6-month free warranty.

        It provides instant payment to your bank account.

        It provides free RC transfer services.

        Cars that are put on sale at CARS24 go through a 140-points inspection.

        CARS24 fully owns and refurbishes cars before putting them up for sale.

 

Conclusion

While owning a car is necessary, it’s not necessarily cheap. Also, the social distancing rules due to the COVID-19 pandemic has resulted in lot of businesses shutting shop and recession around the world. In India, the cheapest car is over 3 lakhs. So it is advisable to choose a pre-owned vehicle that is not only pocket-friendly but also capable of meeting physical and economic security requirements.



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ABOUT THE AUTHOR

Ceyron Louis

Just a Comman Man,Tech Geek,Software Engineer,Web Designer,Social Media Outreach Specialist and a Pro Blogger.

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