DRIVE THE PERFECTION!!!
(Why not to buy a second hand car)
Since the time I
sold my bike, I have had an awful and tiresome experience with Auto Walas here
and the same has planted the thought of buying a car. But I have been always confused not only
between the array of choices available in the market, and more importantly whether
to buy a second hand car or a new one.
Ladies &
Gentleman, to solve my problem, I approached my friend who had a shocking story
to tell me. He had bought a pre-owned Maruti
Alto in January 2011 from a car dealer. The tyres of the car which looked in
excellent condition while purchase, actually got punctured within 2 days. When
he took the tyres to the puncture repair shop – he was shaken to hear that
tyres were are cut or crafted tyres, which
mean that these tyres are fully bald and some dealer had crafted or cut them with
fresh grooves. By driving on these tyres, he was risking his life. Finally, he
ended up buying a new set of tyres which costed him an additional 10-15
thousand rupees.
Deciding between
buying a pre-owned or new one can be tough decision and there are infinite long
and lengthy articles available for the same. But today, I give you all simple 3
points to help you :
- LOAN INTEREST RATES: The interest rates are higher for used cars as the depreciation for the cars is the highest. You will be surprised to know for instance SBI charges an interest rate of 10.75 % for a new car while a whooping 16% for a pre-owned car. It also means that the financial advantage that you will gain by buying a second hand car will be lost to a major extent due to the higher interest rate Only silver lining is that you might get loan at an interest rate which is as low as 10 % for both cases, in case one has a FD with the bank of almost the same amount as loan. The possibility of the same is very bleak my friends !!!!
- BUYER PERSONALITY: Buying a pre-owned car requires intensive checking of the car condition (not to mention the possibility of tampering the running meter and the clever hiding of previous car accidents) and one ought to have good a deep knowledge of cars to detect such elements. On the positive side, buying a pre-owned car will give you a small tiny freedom to learn driving and bang & bash your car a bit without worrying much.
- CAR MAINTENANCE: You can have a laid back controlled minimum maintenance expense for a new car, but be ready with a deep pocket if you are willing to buy a pre-owned car.. For e.g. , the servicing cost for the first 4 years for a Hyundai Eon is as low as 9 thousand, while for next 4 yrs. (assuming for a second hand car) is double i.e. 18 thousand. On top of that, for a pre-owned car, there can be unexpected spare parts expenses. For e.g., a three-year-old Innova car may require a new set of tyres costing Rs. 15000 and a new battery which is about Rs. 5,000.
Dear friends Car is a commodity which will take up a lot
of your money and depreciate tremendously year on year. I have been facing a
lot of dilemma in deciding on the same.
If you plan on taking a loan, have a medium or poor
knowledge about cars and plan on using the car for a long time, buy a new one
and enjoy the smooth and cheap maintenance.
Drive home the Perfection with your first hand car, just
feel happy about the purchase and take pride in it.You know there is a lot of
effort and time gone into it.
Enjoy the Ride !! and Be Safe !!
