Currently, the used car market is booming – many buyers are choosing a used car over a new one due to lower prices and greater variety. Now, even the used-car market might suffer for several reasons. Here’s something for you if you are planning to buy a used car in India.
Attention Readers! Join us on the WhatsApp Community for daily auto news updates
Used Car Prices – What’s Happening?
Currently, the Indian auto market is witnessing several advancements – mainly in terms of changing fuel norms. Currently, we see several car owners taking to the internet to explain how ethanol-blended fuels are causing their vehicles to suffer. This is because India now has E20 as a base, and only XP100 offers 100 percent petrol without any mixture, but it costs nearly Rs 170 per litre. This has led several people to fill their vehicles’ tanks with ethanol-blended petrol, even in machines that don’t support this mixture. As a result, we can see several problems, from rusting to even engine seizures.
Witnessing these events, many buyers might now feel stressed about buying a used car. As they would need to spend nearly 2x as much as they would save by buying a used car rather than a new one if anything happens to the engine or the fuel lines. However, others see a diesel car as a good option nowadays, but that too will be along the same lines, as the government is already planning to mix diesel with isobutanol. Similar to the E20, we can see a diesel-isobutanol mixture becoming standard in the near future, and hence will disrupt the used car market again.
Also Read – 3 Luxury 7-Seaters To Buy At The Price Of Ertiga
Will This Lead To Price Fall?
Now, as the government plans to increase the petrol-ethanol mixture in the coming time, many older cars might experience several issues. This might hurt the used car market and lead to lower prices. Now, for some, this could be a good opportunity, like if you want a car to learn, or not for the long term, then having a used car at a very low price will be a good choice. However, if you plan to keep a car long-term, you might eventually consider a new car option.
Also Read – 5 ‘Luxury SUVs’ At The Price Of A Hyundai Creta