8 FACTORS THAT AFFECT THE RESALE VALUE OF A CAR

Assessing the resale value of a car is of utmost importance before one wishes to make a deal. Negotiations should under no circumstances bring in a great deal of difference in the price of the car and hence ascertaining the resale value of car is necessary.

There are many ways to ascertain the resale value of your car and there are a number of factors contributing to the resale value :

1.       Brand – The brand of your car is a significant contributing factor to its resale value and greatly affect the same. Sometimes the quality and condition of the car comes secondary to the brand, because it is the brand name that attracts the buyers and wins their trust. In fact the brand name decides the depreciation rates of cars. Honda, Subaru, Hyundaiand Toyota top the list for retaining higher resale values while Lexus, Acura, Infiniti, Mercedes, and Audi fare best in terms of luxury brands.

2.       Performance Parts & Aftermarket Accessories–Before making a deal make sure your car is equipped with all the latest accessories and gadgets available in the market. And if that is not the case, then be prepared to settle for a lesser price. A car adorned with all the necessary accessories like supercharger kits, high-end stereos, custom rims etc. issure to promise a better resale value.

3.       Exterior conditions – It is a given fact that before selling your car you have to make sure that the exterior of the car is not too worn out, because the exterior of your car is what your buyer will see first and any damage to the exterior no matter however small it is will definitely affect the deal.

4.       Interior Condition – The interiors of the car should be as spick and span as possible, because the driving experience and comfort is what matters at the end. And one should get his/ her money’s worth when buying an old car and the very first thing that they look into is the comfort of the inside of the car. So if you have a torn and worn out interior bother to get it fixed before selling it so that you get a handsome resale value on your car.

5.       Mechanical Condition – The car should be kept in a constant and proper running condition. Cars prone to breakdowns after a short drive will obviously fetch a low resale value. Also, be sure to present to your buyer the documents of car services and repairs so that they are aware of the car’s well - being.

6.       Drivetrains and Seasonal Demands - automatic transmissions are popular with the average used car buyer crowd, although manual transmissions are sometimes more preferred. Season is also an important determinant of car resale, for example - Convertibles sell better in the summer months while 4x4s sell in winter.

7.       Paint Colour – some customers can be very picky about colours and it is a fact that some colours sell faster than others. Also cost of keeping up with the colour maintenance can be an issue for the buyers.

8.       Mileage – The last but not the least comes the factor of mileage. It is rather an important contributing factor and it goes without saying that better mileage cars sell better than low ones. 

3 Indicators For Market Smart Used Pricing Decisions

There are certain factors which affect the used car pricing decisions. The probable factors which affect pricing are depreciation factor, location of the seller and checking out other dealers in his locality. But the seller before setting the price should visit websites like indianbluebook.com or carwale.com, zigwheels.com from where he can know the exact condition of his car. You need to fill up the basic queries like the model number, when did you buy and such things and the website will immediately let you know the depreciation rate and the present condition of the car. Accordingly you can set the price keeping a percentage of profit, if you have repaired or repainted the car or changed the tyres just include the price of it in the whole price and give the buyer a reasonable price and also a room for negotiation. In this way the seller can sell his or her vehicle in a stress free manner and does not has to worry about whether he will gain from the transaction or not.

·         The depreciation factor ---The car when it is being used from day 1 it starts depreciating and the depreciation rate varies from vehicle to vehicle. This one important factor which affects the pricing of the car as the buyer will always find out how much the vehicle has depreciated.

·         Location of the seller – This is important because the ex showroom prices vary from state and also the price. The price for used car will also vary according to the ex showroom rates. One can consult the showroom from where they have bought the car and ask them to help them to price it for you.

·         Keeping eyes open and see the other dealers selling similar models – This is another point which the seller should see that in his locality nearby is there any other seller who is selling the same model or similar one. If so then the seller should enquire about the price to know where he stands. By chance if the other seller is offering comparatively lesser price then it is probable that he will get more buyers.

Thus these are the three factors which the seller needs to keep in mind while deciding upon the price of the used car. 

All you need to know about the Maruti Alto 800

Launched in India in 2012 the Maruti Alto 800 is among the choice cars in India. This compact hatchback car hugely improved over the older version of Alto and is a great contender in the small car segment. Here are a few facts that one should know about this great buy-

·         Engine- The Alto 800 comes with only one 796 cc engine that delivers 47.3bhp at 6000rpm and 69Nm at 3500rpm powered by a 5-speed manual transmission. The Alto is available in petrol as well as CNG variants. Cable Type Gear Shift Mechanism and Detect Pin Technology (DPT) is installed for smooth and precise gear shifting. Diagonal Shift Assist (DSA) adds to the comfort by assisting in effortless shifting and a flat torque curve prevents frequent gear shifts.

·         Mileage- A mileage 22.74kmpl on highways and 17.0kmpl in the city is offered by Alto 800 petrol variants. The CNG variants claim to give an astonishing mileage of 33.44 km per kg.

·         Design- The new aerodynamic and edgy design of the Alto 800 brings a fresh sporty appeal to the car. Its sleek design packs a punch with bold new bumper grille and trendy headlamps. Addition of the front fog lamp profile enhances the sharp features. The new designer seat, door trim fabrics, ergonomically designed rear-headrest and spacious interiors make this budget car a favorite. Maruti Suzuki Alto 800 is available in a wide range of spunky colors including Silky Silver, Superior White, Granite Grey, Blazing Red, Cerulean Blue and Mojito Green.

·         Features- This stylish car is fitted with a wide range of modern gizmos which attracts the masses. Features like air conditioner with heater, power steering, power windows, rear spoiler, rear parcel tray, DIN-1 music system with two speakers in front, USB port, body side moulding and accessory sockets are an eye catcher. The increased length of the car ensures optimum comfort while on road.

·         Safety Features- Maruti Alto 800 uses disc brakes at front and drum brakes at rear. Features like central locking, keyless entry, power door locks, driver airbag, rear seat belts, engine immobilizer, child safety locks and anti-theft device are installed ensuring a safe ride for you and your family.

The Maruti Alto 800 on road price ranges from Rs 2.98 lakh for lower STD variant and goes as high as Rs 4.31 lakh for the high end LXI CNG variant.

Here is a list of Maruti Alto 800 price for all available variants-

STD (Petrol)	Rs 2.66 lakh
STD (O) (Petrol)	Rs 2.73 lakh
LX (Petrol)	Rs 3.01 lakh
LX (O) (Petrol)	Rs 3.08 lakh
LXI (Petrol)	Rs 3.28 lakh
LXI (O) (Petrol)	Rs 3.34 lakh
VXI (Petrol)	Rs 3.48 lakh
VXI (O) (Petrol)	Rs 3.54 lakh
LXI CNG	Rs 3.91 lakh
LXI CNG (O)	Rs 3.97 lakh

HOW TO BUY A USED CAR

An ever increasing demand for new cars makes an obvious surge in the market for old cars as well. Buying a used car is not the end of the world. In fact, sometimes it is the more logical option. Albeit, there are a few lowdowns of buying a used car of which mental satisfaction and chances of getting duped during the purchase, ace the list.

So the first thing to cross off your plan list when buying a car is – Homework. You need to plan ahead of time all the pre-requisites in your car of choice – what kind of model you want to buy, what is your budget regarding it, what are the features that you wish to incorporate in your dream car and also make sure you are well informed about the source of your second hand car. Deciding on the car model and the desired features probably comprise of the easiest decision. The effort and diligence comes your way when finalizing on the finance part of your plan.Since car purchasing can prove to be a rather emotional event, one may feel carried away and spend more than they plan to. Also the source of the used car should be a reliable one otherwise chances of the car breaking down after a few months of use becomes a common feature.

The next step in the process would include knowing the car history in a proper certified manner. Also to know about the complete accident history of the car of your purchase is very important. For that, contacting the seller’s regular service station or insurance company is the best way out. Also one should be well aware of the warranties on the car and getting to know about them helps one avail the warranty coverage if any.

It is important to know about the car model that one wishes to buy. Discontinued cars should not be bought and prior knowledge about discontinued cars rids one of opportunities to be duped by the seller.

The third step would be to check out the car of choice. Existing problems about the car of purchase can be discovered by checking it out properly. And after that one should verify a number of documents pertaining to the car such as –

·         RTO tax receipt

·         Car registration certificate

·         Insurance

·         Original invoice

·         Finance NOC

One should always remember that when purchasing, negotiations are always entertained and one can easily hassle to get the price he/she wants for the car.

Certain points to remember when purchasing a car –

·         Duplicate keys must be received with the car

·         Brokerage fees should be bargained upon

·         During delivery of the car, a delivery note must be present recording the exact time, date and odometer reading.

·         The car must be received completely services with complete replenishment of fluids with changed filters and belts (as necessary).

·         The insurance of the car should be transferred to the buyer’s name at the time of delivery.

·         Many unpopular cars that may prove to be quite reliable in the long run have high demand in the resale markets and these often become the centre of attention for potential used car buyers.

Know more about Mahindra KUV 100 and its price

The Mahindra KUV 100 was launched in India on 15^th January 2016. The exterior of the car looks stylish and classy. The interiors are also comfortable and spacious. The length of the car is 3675mm, the height is 1655mm and the width is 1715mm. The ground clearance is 170mm with a wheel base of 2385mm. The mileage of the car is 22.25kmpl/ 25.32kmpl. The fuel type is diesel. The engine displacement is 1198cc. The maximum power produced is 77bhp at 3750rpm and torque of 190Nm at 1750 to 2250rpm.

The interior of the car is quite spacious. The number of seats is 5 and the technology inside the car is quite updated. The car is available in 7 different colours: Fiery Orange, flamboyant Red, Dazzling Silver, Aquamarine, Pearl White, Designer Grey, Midnight Black. The ex showroom price in Delhi starts from Rs 6.37 lakh. 

Buying A Car: What You Need to Know

No matter what you are buying you should think twice before spending your hard earned money. Car buying involves quite a lot of investment and it should not be done in a hurry. Take your time to think a lot and do not buy when you are desperate because that is the time you make mistake and spend more. There certain points you should consider before buying a car.

·         Do not just walk in to a showroom with vague ideas and let the salesperson help you out. A good and detailed homework first in the internet. There are several sites which provide you will all the necessary details you need whether it is a new car or an old car. Try to curb the desire of going to a showroom and opting for a test drive and then deciding which car to buy.

·         If you are buying a car for the first time then do opt for buying a used car available in a good condition than a brand new one. Do not prefer leasing out because in this case you do not own the car but over a time you more than buying the used car’s price.

·         Do not pay money for a brand only. There are many well known companies who present themselves well enough but actually have quite a poor report. You need to choose the car first without paying too much attention to the brand.

·         Do not look at the last year’s model thinking it will be a great option to buy. The technology is being updates constantly and renovations are always being made. Wait for a redesigned model as they will have more features but the price range will be more or less similar.

·         Do not consider buying a car when you actually need a car at that moment. At the heat of the moment we tend to spend much more than our budget and later we realise that the car is not too much of our choice. If you own a car then slowly take time to decide which one you need and also save money for it. Do not wait for the car you are using to stop functioning and then you deciding in a hurry to a new one.

·         Do not make unreasonable demands with the dealer. The dealer will obviously keep a profit and then sell you the car. There is no point arguing and leaving the showroom and creating drama and trying to make the dealer feel guilty that he is making a profit. You need to understand he will make a profit but also do negotiate reasonably.

·         Do not unnecessarily beat around the bush with the sales person. Tell him clearly your budget, what type you want and what are your expectations from it. Before going to the showroom do try to get the loan or insurance confirmation for your car yourself and then go to the showroom.

These are certain points you should keep in mind when you are thinking of purchasing a car and how to go about the entire process. 

Top 10 Used Cars in India

As far as the used car category is concerned, India is one of the favorite markets for this segment. This makes the customers to consider the used car prices into account while making a purchase of their vehicles. There are certain cars which are among the top models of used car category in India.

The Honda City is probably the most famed sedan in India, with its third generation plying on the roads. It is one of the hot favorites in the used car category as well. The aerodynamic fluidic design looks very stylish and trendy. With its huge space in the interiors and range of features which include adjustable seats, air quality control, day and night rear view mirror, power windows etc.

The Hyundai Verna is another model in the used car category which is favorite and has a fluidic design, good classy engines and cabin packed with a wide variety of features such as the touchscreen infotainment system with rearview camera.



 

The Vitara Brezza looks stylish from outside with a high bonnet and has a rectangular grille. The car also has stylish looks from the sides as well as the rear. The interior of the Vitara Brezza is much like the other Maruti cars. The top model has a start-stop function, climate control system, leather seats and OVRMs which can be electronically folded. If you are looking for used cars, this car can be a very good option as well.


 

The Scorpio is one of the most favorite SUVs from Mahindra. An all terrain car, it has got a macho and stylish look with robust engines. The exteriors and interiors of the car were upgraded in 2014. This car is also a very good option if you are looking to buy a used SUV.

The Maruti Suzuki Alto with its magical mileage, serviceability and reliability is a hot favorite. The quality of engine is very well suited for Indian roads. Used car prices for this vehicle are naturally on the higher side.

The Hyundai i20 with its styling and quality of engine makes it to the list. As far as the exteriors are concerned, the hatchback has got stylish bonnet, headlight and rear. There is a range of different features inside which make the car all the more attractive. Used car prices for this one from Hyundai are also higher.

The Maruti Suzuki Swift Dzire is another car which makes it to the list of top ten used cars which have a higher used car prices. It is one of the entry sedans from Maruti which has the quality and trust factor of Maruti coupled with it.




i10 is a hatchback from Hyundai with stylish looks and good features and can be identified as a good purchase. As far as the exteriors are concerned, the hatchback has got stylish bonnet, headlight and rear. There is a range of different features inside which make the car all the more attractive. It is one of the favorites of the used car category.

Toyota has a car in the list of cars which are hot favorites in the used car category – the Toyota Innova. Bold and stylish looks along with premium features makes this MPV from Toyota a hot favorite among the car lovers. The macho and bold design of the exterior body is the signature of the Innova.

The XUV 500 is another premier SUV from Mahindra which makes it to the list of the top ten cars in the used car category.