Are you thinking of buying a car in Mumbai? Buying a car is a critical process that oftentimes involves taking various aspects into consideration first. You want to narrow down your options to enable you find a car that will give you the most value for your money. Among the major decisions you will have to make when buying a car is choosing between a used and a new one. Since both have their pros and cons, making a decision may not be straightforward. However, here are some of the top advantages that come with buying Mumbai used cars.
The first benefit that comes with buying a used car in Mumbai is better upfront costs. Generally, used cars are less expensive than their new counterparts. This is because cars depreciate extremely fast. In fact, when you buy a new car, its value will already have depreciated by the time you drive off the dealership’s parking lot. Therefore, going for a used car gives you an opportunity to save a few extra dollars, which is invaluable whether you are on a budget or not. With a used car, you can also get a better bargaining on the price than you would have if you were buying a new model.
A used car will still depreciate after you buy it. However, compared to a new car, the value of the used car will depreciate at a much lower rate. This will pay off later when you want to sell the car or trade it in for another. That is, your losses will be less.
No New Car Fees
When you are buying a new car, there is a lot more you have to worry about besides just the price in terms of the costs. This is because new cars often come with extra costs that can add up to hundreds of dollars. Preparation, processing, advertising, and even shipping costs are some of the fees a dealer will add to the total cost if you are buying a new car. In addition, in most cases, car dealerships will be required to pay sales taxes on new vehicles. In order to reduce the amount of money they lose by paying this task, they will often transfer it to the price of the car. Used cars are usually not subjected to such sales taxes. Besides, if you are buying a used car from private parties, you don’t have to worry about the add on fees. You can use the extra amount of money in other areas such as customizing the used car.
If you are buying a used car, you a have a variety of options to choose from. New cars are oftentimes limited to those produced in the past one or two years. Therefore, if you are looking for an older model for instance, you have better chances of finding it by considering used car options. In addition, if you are buying a Mumbai used car, you have the benefit of going for the luxury options too because of their lower prices.
Lower Registration Fees
The annual registration fees you pay is another thing to think about when choosing between buying a used car and a new car. In most states, the amount of fees you pay in terms of annual car registration will depend on the model year of the car as well as its value. Generally, the rate is usually the highest during the first years after the manufacture date of the car. Used cars have a lower value than their new counterparts. Besides, most of the used car will be older models, which means you will possibly pay lower registration fees every year. Different states may have different laws concerning how annual registration fees are charged. Therefore, looking up these laws is important. For instance, you may find out that in your state, the registration fees fall drastically or level off after three or five years. With such information, you will look for a car that is just as old.
Lower Insurance Premiums
Your insurance premiums will also be relatively cheaper with a used car. Many insurance companies will determine the cost or rate of car insurance from the value of the car. Since used cars have generally less value than newer versions, the cost of insuring them will also be less. In addition, there are certain car insurance elements that you can drop when insuring a used car. With lower insurance premiums, you can save a considerable amount of money that you can use in other areas such as car servicing.