USED CARS FALL WHILE NEW CARS WITNESS A HIKE!

Rahul Sharma
Sep 6, 2017
3 min read

The recent times is witnessing a rapid rise in used car sales, sometimes at the expense of new car sales. This is because there are a various advantages of used cars which new cars fail to provide and hence financial advisors advise upon it too.

The advantages of used cars for sale if have to be listed down, will include –

Used cars cost much lower than new ones. When paying off a long car loan, down payment for a used car being lower than new ones, help.
Used cars have lower insurance values than new cars and hence paying less is always a better option.
There is an opportunity to make use of extended warranties on used cars, especially, if those cars were in an ownership for a year or two. This is because warranty on cars easily exceed two years.
Rate of depreciation of cars is much lower after the first two years of ownership and so cars older than two years cost less.

In fact following recent trends, one can easily conclude that with new car prices rising up, used or second hand car prices are falling day by day. While this can prove to be extremely good for the used car buyers since they have to pay lesser now, it will not prove to be very lucrative for the car sellers. With the prevalent fall in prices, the sellers have to work more towards their cars and adorn them accordingly to raise the price a bit. So what dealerships do nowadays, is promote used car sales and thus house a number of good second hand cars in amazing conditions to make people buy used cars.

For that they can make the car competent for the market in a number of ways –

They can the car be well equipped with all the latest accessories and gadgets available in the market. And if that is not the case, then one should be prepared to settle for a lesser price.

A car adorned with all the necessary accessories like supercharger kits, high-end stereos, custom rims etc. is sure to promise a better resale value.

It is a given fact that before selling your car you have to make sure that the exterior of the car is not too worn out, because the exterior of your car is what your buyer will see first and any damage to the exterior no matter however small it is will definitely affect the deal. Not just the exterior, the interior of the car should also be taken care of. After all, the comfort and driving experience are what we expect at the end of the day.
The car should be kept in a constant and proper running condition. Cars prone to breakdowns after a short drive will obviously fetch a low resale value. So it should be properly repaired before going for the sale.
The urgency factor of seller and buyer also leads to evaluation of cars. The rule is simple, more you are desperate to close the deal, more do you lose money. So the tip is to keep calm and not let the seller know about your urgency so much so that they start taking advantage of it. Also the seller should sense the desperation of the buyer so that he can make a lucrative deal.