As the Indian automobile market continues to expand, the demand for both new and used cars is on the rise. While purchasing a brand-new car might be appealing, buying a used car can offer numerous advantages, especially for first-time drivers and those on a budget.
In 2023, the used car market in India offers a wide range of choices for buyers seeking reliable and well-equipped vehicles under Rs. 10 lakhs. However, before exploring these used car options, let’s understand why you should go for used cars instead of new ones. We will also cover used car loan options to make buying a car as seamless as possible.
Why You Should Go For Used Cars?
Here are the varied reasons why you should go for used cars as against new cars:
- Cost-Effectiveness: One of the primary reasons to opt for a used car is its cost-effectiveness. New cars often undergo rapid depreciation in the initial years, while used cars have already experienced this depreciation, making them more affordable.
- Lower Insurance Costs: Insurance premiums for used cars are generally lower than those for new cars. Since the market value of used cars is lower, insurance companies calculate premiums accordingly, resulting in cost savings for the buyer.
- Diverse Choices: Opting for a used car provides a wider variety of choices within your budget. You can select from most of the earlier models of different brands. You can select a car that best suits your preferences, needs and budget.
- Established Reviews and Feedback: Since used cars have been on the market for some time, there is more feedback and reviews available from existing owners. This information can be valuable in understanding the car's real-world performance and long-term reliability. This will be significant in making an informed car purchase decision.
Best 10 Used Cars Under 10 Lakhs in India in 2023
Here are the best-used cars under 10 lakhs to choose from if you are planning to buy a used car in 2023:
Maruti Suzuki Swift
Maruti Suzuki is a household name and is synonymous with cars for most families in India. It’s one of the best sellers in the budget segment and comes with a stylish design, fuel-efficient engines, comfortable interiors and ample cabin space.
Price Range: Rs. 6 to 8 lakhs (depending on the model year and variant).
Hyundai i20
The Hyundai i20 is a great hatchback model in the budget segment. It comes with a modern design, is feature-packed, has a spacious cabin and gives you a smooth ride quality.
Price Range: Rs. 7 to 9 lakhs (depending on the model year and variant).
Honda City
Honda is another popular name in the automobile industry. Honda City gained much attention from car buyers in recent times due to its budget, design and features. It is a sedan model that carries premium appeal, has spacious interiors, refined engine performance and offers a comfortable ride.
Price Range: Rs. 8 to 10 lakhs (depending on the model year and variant).
Toyota Etios Liva
Toyota Etios Liva is a 5-seater hatchback car in the most affordable price range. It is available in both petrol and diesel variant. It comes with reliable performance and efficient engines. With a practical design and sufficient cabin space, it indeed appeals to car buyers.
Price Range: Rs. 4 to 7 lakhs.
Ford EcoSport
Ford is a popular name in both budget and premium segments. If you are looking for the best used car, then Ford EcoSport deserves your consideration. It offers a compact SUV design and the car is feature-rich. The robust build quality offers an enjoyable driving experience to drivers.
Price Range: Rs. 8 to 10 lakhs.
Mahindra XUV500
Mahindra cars are popular for their tough designs and the XUV series is unbeatable in this segment. If you go for a used Mahindra XUV500, it will cost you nearly Rs. 10 lakhs. The 7-seater XUV car is feature-loaded with powerful engine options. It offers a spacious cabin with a sturdy build quality. It is a strong competitor for used cars under 10 lakhs.
Price Range: Rs. 9 to 10 lakhs.
Volkswagen Polo GT TSI
Volkswagen is a popular model for Indian car buyers. The Polo GT TSI model comes with automatic transmission and a petrol variant. The car carries a sporty design with a peppy turbocharged engine. You can expect a comfortable ride with solid build quality at a decent price range.
Price Range: Rs. 7 to 8 lakhs.
Renault Duster
Renault Duster has become quite popular in the Indian market. This 5-seater Roadies car comes in both petrol and diesel variants. The car has SUV styling with good ground clearance. The interior is quite spacious and the car has a sturdy look.
Price Range: Rs. 6 to 8 lakhs.
Tata Nexon
TATA Nexon is a popular TATA SUV 5-seater car that offers unmatched design, features and sturdiness that we expect from TATA. It has a modern design with good safety features. The car is made up of a high-strength steel structure to enhance safety. The pricing is quite competitive in this range.
Price Range: Rs. 8 to 9 lakhs.
Summing Up
Buying a used car under 10 lakhs in India in 2023 can be a wise decision, offering numerous benefits such as cost-effectiveness, lower insurance costs and a wider variety of choices.
The above-mentioned cars are among the best used car options available in India, each catering to different preferences and requirements. Before finalising a purchase, you should thoroughly inspect the vehicle, verify its history, and take a test drive to ensure a satisfactory ownership experience with your chosen used car.
One of the significant aspects while buying a car is its financing. Most buyers prefer car loans to avoid a huge financial outflow. TATA Capital is one of the leading financiers in the automobile segment. The terms, affordable used car loan rates and flexibility it offers in used car financing are unmatched. Check out Tata Capital's used car loans today!
08 August 2023
5 mins read
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