Admin | 09 Aug, 2020
How often do you change your car
Shall I replace my car? When should I sell my car? Is this the right time to sell it? Will I get the right price? Whether it is better to sell it later? So many questions and doubts linger in the minds of people holding cars that are more than five years old. There are a lot of confusions and hesitations regarding selling a used car.
We will be deliberating different points related to the used cars aimed at enlightening you regarding the best time to sell your old car, the best questions to ask while buying a used car, the different options for finding the right customer and so on. We expect that the points discussed in the succeeding paragraphs will be informative and helpful to you.
Factors leading to selling your car
The below-mentioned are some of the common reasons/ factors for which you may replace your car. People tend to get attached to their vehicles over some time. And they will vary from selling it. Although, it is the right thing to do if your car has any/ all of the issues.
You must be able to sell your used car at the right price after carefully considering various options. Here are some of the major reasons why someone would prefer to buy or change a car.
Frequent Defects – Your car may turn defective frequently due to long years of use. The wear and tear of major components can result in it breaking down of the vehicle midway. Small or minor components and accessories could be replaced during periodic servicing. The case is not the same with major components including the engine, gearbox, electrical systems, and axle.
Untimely defects can adversely affect your trip plans, journeys or family tours. It is not advisable to keep the car if the defect persists even after repeated repair. More often, it happens that a new issue appears when you have resolved one. Sale of your used car is the apt option if this condition prevails.
High Maintenance Cost – The frequent defects, as discussed in the previous paragraph, will lead to high maintenance cost too. The repair cost, price of accessories and service charges will cost you more in addition to wastage of your precious time.
Non-availability of Spare Parts – If your car is a bit older, the production of the particular make/ model might have stopped. This happens with unsuccessful models too. The manufacturers stop production of accessories and spare parts for those models, which are too old or failed in the market.
Some of the spare parts may be common to other models. And duplicate may be available for some accessories. However, you may not find original components for replacement. In turn, affecting the smooth operation of the vehicle. Therefore, the journey in the old car will not be pleasant.
Too High Fuel Consumption – The fuel performance of the engine also comes down with usage. The vehicle starts consuming more fuel than intended does. Thus, draining your valet.
Safety Concerns – The car may not have modern safety features, as it is years old. Else, the operability of the installed features may be in doubt. It is always good to replace your old car with a new one that meets all the safety guidelines and installed with safety features.
Pros and Cons – New Car v/s Used Car
You can analyse the advantages and drawbacks of a new car and old car and reach a decision regarding buying a car or changing your old car. The points discussed below are intended to give you a clear idea about the pros and cons of both. At the same time, selling your old car to a reliable buyer is essential if you are thinking about selling your used car.
Advantages of New Car
Feel and Look – The main thing is the look and feels the brand new car gives. The newly manufactured car will win your heart at the first look itself. It will be a lovely experience to sit inside it.
Smooth Drive – Installed with all new components and major accessories, the car will give you a joyful driving experience.
Safety Features – Top-end models of most of the cars come with the latest safety features. Thereby, ensuring a safe drive.
Mileage – Engines are modified to give more mileage without a reduction in power
Besides the above-mentioned, new cars offer a comfortable drive with fewer chances of breakdown, newly designed interiors, maintenance-free drive and many more.
Drawbacks of New Car
Loss of Value – The new car will lose up to 40% value in the first year itself. That means you will get that less amount even if you sell it after one year of use.
High-Interest Rates – Interest rates for a new car are on the higher side. You will be paying a very high amount as interest.
Requires Extra Care – Even a minor dent, scratch or mark can worry you. So, you will be forced to take extra care of your vehicle.
Affect Other Plans – After spending a huge amount for buying a new car, you may have to drop some other high priority plans due to the lack of money.
Advantages of Used Car
Resale Value – You are not going to lose that much money if you are selling a used car when compared to a new car. The used car thus gives you good resale value. At times, if you are selling a popular model it can give you a profit.
Instant Delivery – While buying a new car, you may have to wait for months to get it delivered. A used car will be available the instant you pay the money.
Low Price – A used car will be available at an affordable price. You do not have to shell out more money for buying a successful model.
Save Money – The money saved on buying the car could be used for other productive purposes including renovation of your home, higher education of your children and so on.
Drawbacks of Used Car
Beware of Fraud – This can happen when you buy from an individual or vehicle broker. You have to be cautious and check all the documents and undertake necessary technical inspection.
Negotiate the Price – This is again an issue when you buy from an individual. They may quote a high price, which may be higher than the existing market price. You may be paying exorbitant if you fail to negotiate.
Stolen Vehicle – You may not know whether the individual is the owner of the vehicle or is a stolen one. Checking of the documents also may fail, as you are not a professional in this field.
Technical Problems – Technical defects may arise if the vehicle is not frequently serviced one. You will have to run around repairing the vehicle after purchasing.
Methods for Selling a Car
Used Car dealers - Selling your used car through a used car dealer is found to be the best option. Through which, you can avoid fraudsters and get the right price. The used car dealers will shoulder the responsibility of undertaking necessary inspection, repair and maintenance. They will also pay you instantly. You have to neither worry about paperwork nor search for a buyer. Indus used cars, Maruti True Value etcetera are the reliable used car sellers in Kerala.
Online Ads – OLX, Quickr and similar online sites offer free advertisements for selling used cars. This method may fetch you a better price. However, you will have to wait for the right buyer. Further, you will have to take all the other responsibility including documentation. You may also be not aware of the individual buying your car. You may land up in trouble if he/ she is not a genuine person.
Sale to Individual – You can find buyers by yourself. Advertise through your friends and relatives about the car. And find the buyer.
You may want to get the maximum usage out of the car? Or you like to update your car every year? People buy cars for several reasons. No matter whether you are buying your new car or changing it for another model, you need to consider a lot of factors associated with it. Hope this article gave you a clear idea about buying a new car and changing your car.