With the rising petrol prices in India second hand car market is in its birth stage. The high end petrol luxury cars have less demand in the second hand car market. As we all know the basic rule that “when there is more demand than supply the costs come down”.The demand for diesel vehicles has been sky rocketing day by day.As the demand for diesel increase manufacturers are trying to cut down on features and make more margin on diesel cars.There is also a soon to be introduced Indian Government policy on diesel cars according to the new policy diesel cars have a fuel premium to neutralize the subsidy given by Governemnt on Diesel.So it is high time you can opt for a second hand petrol car rather than a mild looking and less featured diesel car.
You can own of these luxury and Good looking cars for less than half the Ex-showroom price luxury vehicles like Accord’s, Civic’s & Camry’s available at a bargain price of 5-9 lakhs. The reason for the downfall of petrol car prices in the second hand market can be attributed to both the above mentioned factors rising petrol prices and demand is less than supply and also because petrol cars are less fuel efficient than diesel cars.To counter react on the problem of less mileage you can have CNG conversion kit which is more cost effective than diesel.And you can hardly feel the power lag on your car.
So, this is the best time to purchase an used luxury petrol car at mouth watering price.
Here is a list of some of the cars I feel are a good deal:
1. Honda Accord V6
There are tens of Accord’s with the used car dealers and finding a well-maintained one should not be a time taking and troublesome issue. You can find the 07 models at prices ranging from 5-7 lakhs depending upon the mileage & service history. The 08’s also can be found at prices below 9 lacs. A D+ segment sedan at this price range is surely mouth watering. Also, the Japanese are famous for their reliability and an Accord which clocked 40,000 km can be considered a virgin.
1. A superb V6 engine that is high on refinement, produces 221 bhp & is rev happy too
2.Very spacious on the inside.
3.Automatic transmission is a boon in the city, good acceleration & the mid-range is mind blowing.
1.Low mileage 6-8 kmpl against the high price of petrol, the reason these cars go cheap.
Same is the case with Civic as was with the Accord, finding a well maintained civic is quite easy because there are a lot of them with the dealers and most of them want to get rid of them as soon as possible. A well-maintained Civic which is two to 3 years old may cost around 6-8 lakh rupees.
1.Superb rev happy engine which is high on refinement
2. Fun to drive
3. Stylish design, a head turner for sure
4. Needless to say that it’s reliable being a Honda( or say Japanese)
5. The best car in the world for after market mods.
1. Petrol, Petrol, Petrol
2. The rear suspension should have been more stiffer
India’s first hot hatch. It was the car that introduced ABS & Airbags in the hatchbacks in India. Although the car did not set the sales chart on fire, it does have a very good fan following for being a driver friendly car( read “enthusiast’s car). It is very tough to find a well maintained one in the used car market but these cars go quite cheap. You can get expect to get one at 1-2 lakhs depending on the condition.
1. Good engine that produces 100bhp.
2. Handling & stability is great even at high speeds.
3.It still does look hot.
4. Built like a tank ( Like all Europeans).
5. Quite spacious
1. This is European, that means you have to keep visiting the Garage frequently. It has its own share of niggles.
2. The availability of spares is an issue.
3. Needless to say its a petrol & isn’t fuel efficient coz of which it is in the lsit.
Another one of the most reliable cars, being a Toyota (Japanese). It may not be fun to drive like the Accord’s & Civic’s but is luxurious enough to compete against them. Finding a Camry in the used car market is also quite easy. Although it directly competes with the Accord, it costs on the higher side being brought to India as a CBU(Completely Built Unit).
2. Good for Chauffeur-driven.
3.Good build quality being built outside India 😀
1. Priced on the higher side.
2. Suits sedate driving styles.
In India in the early 2000’s, the Lancer made a mark of its own for its sports like design. Just like Fiat, Mitsubushi also lost out on a good opportunity to set the sales charts on fire. Today, there are a lots of Lancers in the used market at dirt cheap prices.
1. well refined engine though not powerful enough.
2.Very good driveablility.
3. Still looks hot like the Palio. Timeless design.
1. Expensive spares, also availability is an issue.
2. Dated interiors.
Remember that, the running costs of a used vehicle will definitely be more than a new one before buying. Also, for people who think petrol is out of their budget, then why not fit in a CNG/LPG kit. With the sequential kits, the power drop is also negligible & the running costs come down drastically. Just imagine, an Accord at 7 lakhs in which you fit a sequential CNG kit resulting in running cost less than diesel for a superb car or rather some boring 7 lakh sedan or hatch with nominal features like the Dzire or Etios or Indigo.
Two years ago, the break even point for a pterol & a diesel car was 2000 km a month but now a diesel amkes sense even if you travel 600km a month, such has been the difference between the cost of a litre of petrol vs diesel. The reason, the govenment is not regulating the cost of diesel is due to the reason that, the effect would be shown in the transport sector. The prices of all commodities would go up. So regulating the price of diesel is compulsory. But say,a man with a Hero Honda Splendor comes into a fuel station for refueling his vehicle & 74rs/litre and another man comes in an Audi and fills in the subsidized diesel at 44rs/litre. It is for this reason that the govenment has been considering various alternatives so that it is a win-win situation for everyone and recently announced that there would be an additional excise duty on diesel vehicles making them more expensive to buy. With this the break even point between a petrol & diesel car is expected to come back to atleast 1500km per month so that people go back to petrol for city usage.
As mentioned in the first paragraph that its high time to buy a used luxury petrol sedan, also the reverse is possible. If you want to buy a new car now but will sell it off soon say 1-2 years and buy a better car, then it’s better t buy a diesel as soon as possible before the prices are hiked so that you face minimum depreciation. A new Swift diesel bought today may be sold at the same price you bought it after the price hike. Isn’t that awesome?