The market of pre-owned cars has seen a steady growth in the past few years. In fact, during some quarters, the sale of pre-owned cars has exceeded the sale of new cars. There are more number of people who are showing a keen interest tobuy used Mahindra XUV500 in Bangalore.
In addition to this there are some other striking trends that are being observed in purchase of used cars.
Comfort with Digital Channels
The digital revolution has engulfed the market. As a result of this more number of people are using digital channels to search for pre-owned Mahindra cars and contact sellers. They are even using online calculators to find out the true evaluation of the car.
Average Age of Car Owner
There was a time when cars were purchased by people only after they had hit their 30s. But now the average age of a car owner has come down to 20s. This is because a lot of people are now purchasing a car – even if it is a used car – a lot earlier in life. A car has now become a necessity of the youth of the country.
Better Financial Assistance
With time, it has become easier to get financial assistance for purchasing a used Mahindra car. It is easier to get a loan approved for purchasing a second hand car. The rates of interest and the repayment schedules are a lot better today.
Emergence of Aggregators
The business model of aggregators has also helped the buyers of used cars. This model has allowed buyers to compare and buy from a larger pool of used cars. Buyers are not able to purchase cars that have had a shorter previous ownership span. Aggregators have also introduced healthy price war which benefits the buyers.