The Used Car market is often ignored by many young buyers. The main reason behind this approach is the widespread assumption that used cars look, feel and sound cheap. Moreover, since a car is often considered to be a status symbol (which is absolutely correct), people perceive investing in a used car to be slightly un-justifiable. Most buyers believe that going for a used car won’t boost up their social image as strong as buying a new car would do. However, we totally stand against this motion. And we can prove the reason behind our judgment. Read on!
The used car market is a very volatile segment. Prices of second-hand cars fluctuate for various diverse reasons, something that is not easy to understand for an average Indian car buyer. And frankly, there is no real need to have a deep insight either. What is important to acknowledge is the fact that some specific models show a much higher depreciation than similar other models.
Also Read: Best cars for Indian college students
For a used car, depreciation is a reduction in its value over a period of time. Depreciation increases with increase in age of the car and kilometers run. However, there are many other factors that determine which car depreciates faster and which doesn’t. For example, a Volkswagen Polo will depreciate much faster than a Maruti Swift, thanks to the former’s reputation for unreliability and VW’s expensive maintenance costs.
While such fast depreciating models can be a headache for sellers, these models offer a great opportunity for the buyers to get a superb deal. This is where used car buying becomes a lot more interesting than showroom shopping for a new car. For the amount that you will be spending on a budget hatchback, you can get your hands on some really nice cars from above two segments.
Enticed? Well, let’s lure you a bit further into the used car marketplace. We have thoroughly researched the second-hand car market in India in order to find the models that show higher depreciation but will add great values to your social image as well as car ownership experience. We took a look at around 2,500 used cars available across the country through various online car portals and then shortlisted a list of top 10 used cars that you can buy at mouth watering prices, and thus get more ‘tashan’ for less bucks!
1. Honda Civic
Average Price Range: Rs 3.0 lakh – Rs 4.0 lakh
Availability: Satisfactory
Pros:
- Great looking car. Still catches eye-balls wherever it goes.
- Mod-friendly. Multiple performance & cosmetic alterations available in the market.
- Superb value for money.
- Gives the feel of owning a high-end luxury car.
- Both manual and automatic variants available.
Cons:
- Has been discontinued for 4 years. Sourcing parts can become slightly tricky.
- No diesel option available.
- Automatic models give poor fuel economy.
2. Ford Fiesta
Average Price Range: Old model: Rs. 2.5 lakh | New model: Rs. 4.5 lakh
Availability: Tough to find a new-gen model. Older models can easily be sourced.
Pros:
- Novel image. Nobody sees a new-gen Fiesta roaming around Indian roads too often.
- Great engine, ride & handling. It is an enthusiasts dream.
- Superb reliability. We have never heard of a Fiesta breaking down.
- Nice built quality. Looks and feels solid.
Cons:
- Slightly costly spare parts
- New-gen model not easy to find
3. Tata Safari (old model)
Average Price Range: Rs 3.0 lakh – Rs. 4.5 lakh
Availability: Very easy to find.
Pros:
- Butch feel and look.
- It is a true-blooded SUV.
- The Safari has a very large fan following. Resale won’t be hectic.
- Multiple Safari owners group across the country for outings and weekend rides.
- Available with 4×2 as well as 4×4 options
Cons:
- Slightly unreliable. Safari owners have reported some electrical faults.
- Fluctuating fuel economy.
- Tata’s after sales service experience is still far from satisfactory.
4. Skoda Octavia
Average Price Range: Rs. 3.0 lakh – Rs. 5.0 lakh
Availability: Easy to find
Pros:
- Luxury car feel.
- Great road presence. Feature loaded as well.
- Superb value for money propositions. Most loaded car in this price range.
- Enticing engine options on offer – both petrol and diesel.
Cons:
- Skoda’s infamous after sales experience.
- Slightly costly to maintain.
5. Ford Figo
Average Price Range: Old: Rs. 3 lakh | New: Rs. 5 – 6 lakh
Availability: Very easy to find
Also Read: Why is Ford Figo the best hatch in its price?
Pros:
- Driver’s car, especially the diesel.
- Tank-like built quality.
- Extraordinary ride & handling. Remains stable even at 140 km/h.
- New model gets contemporary styling.
Cons:
- Older model looks a bit dated. Interiors too are basic.
- Parts availability is slightly dicey, though Ford is working hard to address this issue.
6. Skoda Yeti
Average Price Range: Rs. 7.0 lakh to Rs. 9.0 lakh
Availability: Very difficult to find
Pros:
- Huge depreciation = great value for money for the buyer.
- Go anywhere vehicle. Perfect car for on-road & off-road trips.
- Novel image. Nobody sees the Yeti roaming around Indian roads too often.
- Nicely loaded with features.
Cons:
- Resale will be a nightmare.
- Skoda’s infamous after-sales service.
Also Read: Step-by-step guide to take delivery of a new car in India
7. Honda Brio
Average Price Range: R. 3.0 lakh – Rs. 4.0 lakh
Availability: Very easy to find
Pros:
- Great city car. Easy to drive.
- Manual & automatic options available.
- Peppy engine. Is the most rev-happy unit available in this price range.
- Honda’s ownership experience generally don’t cause any troubles.
Cons:
- Rear styling is not to everyone’s taste.
- Pathetic boot space.
- No diesel engine on offer.
8. Skoda Rapid
Average Price Range: Rs. 4.5 lakh to Rs. 6 lakh
Availability: Easy to find
Pros:
- Big car feel.
- Great engine options on offer.
- Manual & automatic transmission options available.
- Ride and handling are best in the segment.
Cons:
- Skoda’s after-sales experience is slightly underwhelming.
9. Volkswagen Polo
Average Price Range: Rs. 3.0 lakh to Rs. 5.0 lakh
Availability: Very easy to find
Pros:
- Timeless design. Doesn’t feel dated even after 6 years.
- Great built quality, best in the segment.
- Powerful diesel engine.
- Superb value for money, owing to higher depreciation.
Cons:
- Petrol engine’s performance is disappointing.
- Slightly costly to maintain.
- VW’s inconsistent service experience.
10. Maruti S-Cross
Average Price Range: Rs. 7.0 lakh – Rs. 8.50 lakh
Availability: Difficult to find
Pros:
- Great engine options, especially the 1.6 liter diesel in the DDiS 320 variants.
- High depreciation = great value for money for the buyer.
- Resale won’t be a big issue.
- Its a Maruti Suzuki! Unlikely maintenance issues.
Cons:
- Looks aren’t widely acceptable.
- Being a Maruti, it might appear to be a bit costly to some.