There was a time, when people in India did not like to buy second hand car i.e. first used car. But now it is not so. With the passage of time the consumer’s ideology for second hand cars has changed. Second hand cars are slowly becoming popular in the country. At the same time, the trust of the customers for them has also increased more than before. The second hand car market has seen a boom in the last few years. According to the report, at the end of the financial year 2021, there were about 40 lakh units of second hand vehicles in the country. And there is a possibility that by this financial year this figure can reach around 82 lakhs.
The main reason for the increasing popularity of second hand vehicles
The main reason for the increasing popularity of second hand vehicles is the continuous increase in the price of new vehicles in the last few years. Also, the skyrocketing price of petrol and diesel is also not hidden from anyone. In such a situation, due to the availability of second hand vehicles at a low price, their market has increased rapidly, which will grow more rapidly in the coming time.
more popular in smaller towns
Compared to big cities, second hand vehicles are more popular in small towns. Due to availability at low cost, the trust of people living in small town on second hand vehicles is also increasing rapidly.
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Easy process and less hassle
The process of buying second hand vehicles is easy. Also, like new vehicles, there is no hassle of expenses like high tax, depreciation, registration charges, RTO fees, expensive policies on second hand vehicles, which gives more convenience to the customers.
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