Why Used Cars Make Sense for Millennials in Ahmedabad

Mar 02, 2017

Back in the day, millennials had been reluctant to buy luxury goods such as cars. This scenario is now quickly changing. Millennials now have a passion for cars, and as generation Y enters new stages of life and earns higher incomes, their desire and ability to own cars is on the rise. However, given the rising rate of inflation, the idea of making a huge car investment may be too daunting. Hence, young people in the city of Ahmedabad prefer pre-owned cars instead on new ones. Not only are used cars affordable, they also have many other benefits.

Buying used cars in Ahmedabad make sense for millennials for the following reasons:

  1. It is a Cheaper Choice
    One of the biggest advantages of purchasing a pre-owned car is its affordability. Some young adults may have existing college loans, so buying a new car could create an additional financial strain. In such cases, purchasing a used car is the best option.
  2. Wide Choices of Used Cars
    Millennials like attributes which appeal to their needs and emotions. With such a wide availability of used cars in Ahmedabad, Gen Y may pick a car that reflects their individuality. Besides, pre-owned car dealers also have an online presence. Given that youth are now technology-savvy, many browse through car listings online.
  3. Millennials are Eco-Friendly
    Generation Y has become more environment-conscious. It makes sense from a green perspective to buy a used car, especially if it gives good mileage. Besides, there are cars which have a lower emission rate. Buying a new car and disposing the old one will just add to the ever-growing collective heap of junk.
  4. Depreciation Benefits
    New cars lose a large portion of their value in the first few years of their purchase. Second-hand cars, on the other hand, depreciate at a slower rate. This is due to the fact that the previous owner has already absorbed the steepest portion of the depreciation.
  5. Low Insurance Cost
    The cost of insurance for used cars is lower compared to brand new ones. The main factor for determining the rate of insurance is the value of the car. If the car is pre-owned, the car has lesser value. This means the cost of insurance coverage is lower.
  6. Extended Warranty Benefits
    Most used-car dealers provide extended warranties. It is a safeguard against the cost of repairs and replacement in case of any unforeseen event. In addition to repair benefits, many extended warranties offer other benefits like car-rental discounts, towing charges and lost-key lockout services.

The used car market is gaining momentum. Generation Y prefers buying pre-owned cars as it is affordable and does not result in a major financial strain. Besides affordability, used cars also have lower registration and insurance fees. It is advisable to make a well-informed decision before selecting a particular car.