Aakash Salgaonkar owned two hatchbacks, but still longed for a sedan. A budget of Rs 5 lakh was not helping till he stumbled on a steal: A three-year-old black Chevrolet Optra that had run 28,940 km for Rs 3 lakh. A new model would have cost Rs 8 lakh. Salgaonkar bought the car for Rs 2.7 lakh in early 2010. A year later, the finance executive from Mumbai is still smiling.“With second-hand cars, you can get a model in good condition for sometimes half the price,” says Sandeep Kapoor of Relioquick India, which organises automobile shows. Used cars are perennial suspects for performance, mileage and maintenance costs. But these factors pale before cheap prices. Say, you want a sedan. A new Honda City in Mumbai costs more than Rs 10 lakh. You could get a used model for half that price if you can live with its two-year-old tag.
A year-old hatchback can be cheaper by up to Rs 1.5 lakh. The prices vary across cities. Used wheels are an answer to people against loans or accumulating finances. Still, buyers are intimidated by the prospect of future costs. Even if a car costs 50% of its original price, there are doubts on fuel and maintenance expenses.
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