Bought a used top end polo for 3.75L 8yrs ago. Spend around 1.25L on maintenance over the years and around 8k every year on insurance. The resell value now is at 3.5L and the car is still solid.
@@hemanth26 that doesn't work in autocar market. You are mixing economy concept with mechanical concept which are two different thing. Car price much more depend upon Car conditions and how remarkable their presence was when they were launched so inflation won't do much damage to pricing.
A used German Luxury car will come with inherent risk a small issue will cost a lot to fix. You should set aside 5-6 lakhs just for maintenance in case you are getting a 7-8-year-old one
@amnsbharath issues such as changing suspension, ac issues, changing tires all show up at this point of time. All costs a lot. And if you end up with some inherent issues like transmission failure or issues with engine it would costs you lakhs to fix. It's why the luxury cars depreciate a lot
Spares for the used car will be equivalent to the spares of the new car in today's market value. Example 10 years ago Merc S Class was sold at 1.2cr but the spares for the same car won't be relevant to the 1.2cr car it will be proportionate to the 2.4cr 2024 car. So you have to remove your under wear everytime you service
Got myself an 6 yr Old car , Grand i10 Sportz , 27000 KM on the ODO at 4lakhs , all costs included . Got New tyres for free. 3 years down the line , the car is in absolute good shape , only requiring an yearly service as low as 3k on average , including oil and spares .i have run it for 30k KM extra . Got the car by 100 % cash at no debt . Happy and grateful !!
I am currently using my father's old Alto for local travel in a small town 2.6 lakh km on odo 18 years old. Still works ok. My father's current car has 2.1 lakh on odo. 9 years old 7 seater diesel car. My father has to travel a lot.
My dad bought a 2nd hand EoN 12 years back. It still running like fine-wine, no major issues till now, only scheduled maintenance, perfect for Bangalore roads as its still giving me 20Km/L.
I would say go for used Toyota, hyundai or a honda. If you are not good with checking vehicle conditions go with a mechanic or go with used car platforms but you will get the vehicle 1-2 lakhs more expensive.
@@WittyMafiaTeam Dostcast mai cars ke bare me discuss karte hai kya mujhe pata nahi, koi podcast hai aisa to I would love to check it out. BTW I am a normal motorhead who loves car and also follow some youtubers like Gagan and Biturbo, btw itna time nahi milta thanks I will watch this Dostcast.
I’m watching videos while waiting for my new car delivery tomorrow 😂. By the way, I bought a Mazda here in Thailand 🇹🇭, and the best part is, there’s no tax on it!
I bought my 1st car in 2019 a 10-year-old Chevrolet Spark Petrol for 80K and drove it for 2 month and sold for 90K. Then I bought my 2nd car in 2019 a 10-year-old Ritz Petrol for Rs. 1.4 lakh and have drove around 30000 km. Now just this month I did the Reregistration for another 5year. The car has clocked 65K and I will keep this car forever. The Ritz is running super. I Bought my 3rd car in 2023-october a 4-year-old S-cross Diesel 1.3L Facelift for 6.5 Lakh. I have drove it 22K in just 11 months. It’s a lovely car. Now I just have (10days ago) bought my 4th Car a 5year old Skoda Kodiak 2.0 Litter Diesel for 15lkah. I know the maintenance is high so I have kept 1-2 lakh for that. (I will sell the S-cross) and ll keep the Kodiak & Ritz and ll sell the s cross. So, in my opinion buying a used car is always a sensible decision. Btw I am from Odisha.
A humble request to you guys please make a video on " how nominee can claim equity shares if any mishap happens to the investors " in these days retail investors are putting lost of their fund into equity, financial influencer are influencing about equity investment bt their is very less knowledge available in the internet about the nominee claim process .. It is very important for investors any to their families to know the proper claming process. Please guys make a proper video on this topic 🙏
We bought an alto 800 in 2014 (it's also does not have a ac or a powers steering) and it's been 10 years since and it still gives 20kmpl here in Shimla even though we have a Creta alto us still the go for anything we are doing in Shimla given the narrow roads If someone is considering buy a used car for practical reasons, I would seriously recommend a 4-5-year-old alto of any kind given you do your due diligence and check it for any obvious structural defects and the engine but other than that everything else is pretty cheap to replace or fix
@@asurakengan7173 True, i dont see most people in the city buying a used alto but trust me its the go to car in the hills (ignis is also getting a bit popular these days). Here small car is like what a scoter is in the plains, you might upgrade to a bigger car but you always keep the smaller one around
I mean u really can't compare buying luxury 2nd hand vs new car , majority ppl who go to 2nd hand have budget around 3 -6 lakhs and new to driving , so it makes sense to buy used than new
Haven’t watched the video yet! But I already bought an used Audi A4 2019 model in 2021 and I am very happy with the choice. It’s a difference of day and night between the Audi I bought and if I chose to buy a 25L new car like Harrier etc in the same range. Audi any day!
Looking at current prices of new cars, it makes good sense to buy a used car. But ideally buy a used car without taking a loan. Easy to say. Hard to practice.
I am kinda motorhead. I’ve always wanted Polo as my first car. I somehow knew what i am getting into. I bought a polo gt on a good deal on less kilometres. I must say maintaining a german car isn’t good for your pocket. But damn the amount of fun i am having while driving the car is priceless. My tip understanda “what you are getting into”
We bought a slightly used Audi A3. Since I used to be in auto racing before I know shops and mechanics who are top notch. Never maintain at dealers. The prices of private mechanics is low but the only problem is the spare parts which are costly. My mechanics can source from independent suppliers at lower costs. Only some very crucial parts like gearbox , water pump need to be bought from oem. But I still don’t advise it for lower level employees
Older german luxury cars have terrible service costs and complex engines which are made like that on purpose. If your transmission/engine fails, you would need to scrap it, as even the repair centres will say fixing the car is not worth the cost.
Also, in metros especially the max life if car is 15 years and after that it goes into scrap, need to keep this point in mind while buying an old car (10 year old car means only 5 years of life and zero value after that)
If I had given an option of buying brand new grand vitara hybrid or 3-4 years old Toyota Camry I’ll pick Toyota Camry any day. Do I recommend buying used car over new car..? Not always However sticking with Japanese brands & do thorough inspection through a specialist before acquiring one can save your lot of money
Pratik, this video was good, but skewed towards luxury cars. Can you please do another video on similar lines considering a non-luxury cars. Question which I want answer to as like: 1. If I have 13/14L to spend on a car, I can get a brand new XUV3XO, Nexon etc, or I can get a 2-3 year old Skoda/Creta for same price (Reference from Spinny). Which one could be better? 2. In USA used car market is a big & matured one. Infact people buy more used car then new car. What is different there which gives people confidence to buy used car which is missing in India 3. As cars are depreciating asset (you explained in the video very well), should people look at used 3-4 year used car more preferably as the value of such cars have already depreciated enough & you wont loose too much money if you sell them after 5 years of usage? Thanks
Here's my personal opinion: 1. If you don't have space constraints, go for a used Skoda/Creta definitely. Sub-4m cars (3XO, Nexon) are simply raised up hatchbacks and don't have enough space to stretch out. The mileage and maintenance difference will be minor. 2. In India, we're more worried about "if he's selling the car, there's probably a fault in it" which is also a fair fear. People here often just band-aid fix and let the other person deal with their problem. Not saying this doesn't happen in USA, but the chance of it happening here is higher. Another reason could be the 15 year validity rule. A new car at the same price will be legal to drive for 2-3 years longer, as compared to a used one for the same money. Then there's also the showoff thing. New car, ribbons on bonnet, celebration videos. It's still a status symbol (vs a tool, in USA) 3. Yep. Definitely. Just be wary of a lemon.
Get a bmw with a highly reliable block with bunch of sales. Something like the F10 5 Series is one of the best picks and is pretty cost efficient if you know where to source spares from. I source myself from abroad so local availability isn’t ever a problem.
A single bolt in BMW that is being imported can take up to 30 days to reach your car. It can cost up to 1500 to 2000. That same bolt in Swift can cost less than 50 rupees.
Bunch of things iffy with some points. Running cost would be pretty much the same since there has been no major developments in the engines in the last 15 years. Interest rates would be 10-11% not 13-14% (maybe on the high side if you have bad credit score) Yes, maintenance will be higher but not that significant. Service intervals remain the same, they don't become more frequent. It does get more expensive. New cars depreciate more than used cars over 3-5 years.
Thanks for sharing truth.. Investment Cost is nearly 1/3 for 5 yrs old model, When coming to resale Depreciation is 1/4 as compared to new one. In 2020 I bought a 2016 model honda amaze SX diesel in 3.8 lakhs.After nearly 4 years running of 65000 kms & total 135000 expenditure on service, battery tyres and repairs It's resale price is 3.5 lakh .. 😂
@@radarroi27 if you've ever bought one you'd know. I'm talking about luxury cars only. I've had an Audi and a BMW so I'm talking from my own experience
When i buy a 2 year old used luxury car with about 20,000kms mileage that is worth around 1 crore new - i can get it for 60-70 lakhs . The original owner has beared the most of the depreciation . As long as I ensure the car is in a good state with proper inspection done presale - isn’t this a great vfm proposition rather than buying the car brand new ? Also bear in mind i can even buy the 1 crore car brand new outright with cash comfortably if needed , so it is not that i am buying it used because i cannot afford it , but rather from a sensible money saving pov ? Any opinions appreciated!
Fair Point. It depends on case to case. TBH I am also in a dilemma about this same thing.. Getting a first owner second hand car which is just 2-3 years old might be that sweet spot where you know it won't be in bad condition + majority of depreciation will be on the first owner. Second hand might be bad when someone gets more than 5 year old car which might be available for less than 50% price but its maintenance cost would be a lot.
nowadays buying new car cost includes a hell lot of taxes almost 30-50 percent is taxes try buying the same care in resale which reduces its price and we also dont have to pay huge taxes as well.
Definitely the maintainance of a luxury car would be on a higher side, commenting from experience. And also one needs to check the service record before buying any second hand luxury car.
Buying an used luxury car with lot of kms or more than 5 year old is very risky coz maintenance cost will be very high and parts availability as well. But buying a Maruti won't be that risky as parts are cheap and has low maintenance cost .
Sir, it all depends on many other parameters I am using 10 years old toyota prius in Europe from 3 years no problem no maintenance cost and great value for money... we have to check service history n any accident history and brand value then go for second car 😁
I paid Full Cash of 2,00,000 Milage 40 I have A Electric bike. Vehicle Age 3 Years 1 Month I have Driven 12,000 ( Note Saturday And Sunday I work as Swiggy and rapido ) Now I have 2 Bikes which means for next 3 year I might drive 6000 KM on 40 KM Milage Bike Which comes around 15,000 which means 5000 a Year Or 400 a month I am not counting the First 1000 KM since I'll be completeing as fast a possible and I have already kept money aside
I personally hate EMI's except buying a house and gold jewels cause those are a long term asset, EMI has the only meaning i.e "We don't have enough money to own that product". We need to follow the older ways, lets use piggy bank and buy any product we want
can you make a video on the insurance process. My vehicle was recently stolen and the whole process seems very lengthy and there are lots of documentations
Used cars have more problems agreed. I get my car serviced and repaired in known garage so the maintenance is comparatively cheaper. Cost of parts is sometimes 7 times cheaper. Buy a used car only if you know a good mechanic who can diagnose problems beforehand
If a car is 10 years old then insurance will not pay for any part, and spare parts are really costly, forget about BMW, Audi, and all, I have a Honda, and even its parts are very expensive and the service center keeps on increasing the price of parts and other charges. The steering rack was 53K two years back now it is 93K.
Buying a car doesn’t matter either used or new. It’s fully depends on maintenance. If it’s old owner maintenance is well then well and good to buy that car.
Thank for creating this video. Just wanted to ask. Did you guys stopped dubbing your videos to Hindi, or are you still doing that, coz that's the reason I never gone back to watch those videos on Hindi channel
First of all the example is wrong not all people will buy BMW some how has on budget and want reliability will go for Honda or Toyota etc. Second is milage now what u said is right that it will reduce when it gets older , but it also depends on person's Usage and car life us lower ur usage lower will be the cost. Third maintenance now it also depends of car life and spare parts available in market ex. U will see high cost for ford car as company does not operate anymore but if u go for honda city it won't be problem if u are afraid of parts not working either buy original or by insurance which cover such cost. Forth for loan if u are new or first time buyers banks mostly rejects their application due to low income or new enterent to job market, but if u buy for old car bank may charge high interest but if ur on 5-6 lakh budget and 20-30% down payment then bank will give u loan. Also u can create opportunity to build credit history for future new car as chance of fulfilling loan for second hand car is much easier than new car which will cost more. In the end it depends on person to person and their needs, financial situation etc. Also many are afraid to purchase second hand due to frauds which is true in that case go to big aggregator like Cars 24 etc. As they have stringent check policy or car dealer of ur relatives or friends.
Buying second hand luxury car is stupidly, Most of the people sell the luxury cars when the warranty period end(5-7 years) to avoid big repairs. 2 years ago bought a second hand budget car for 7l from direct owner and never spend any money than a regular maintenance.
Best Idea would be to make your boss buy it as company expense. Hey you can look cool. You can drive a BMW and well your boss as he is this cool. You are also set😁
What about a non-luxury car? And if I am buying the entire car in cash without any loan. I might get a normal 2nd hand car within 5-6 lacs, is that a good purchase?
Yes, go for it. I've bought a Polo 2014 model. Best purchase. It had been 3 years so far no issues. Had to change the tyres and a few minor things and I service the car once a year with an average running 1200 kms in an year.
You gotta make a video about freelancers. Don’t want to reveal secrets, but some of us have genuinely found ways of escaping the ridiculous taxes in India and having a lot more freedom (and money) thanks to international clients ;)
Bought a 2 year old tata, at half the original price, invested 1 lakhs on mods, now it looks like a car from nfs mw, the fortuner, venu, nexon etc owners asks me about the car. When I say it’s second hand they feel a sense of fomo, (ah why can’t i get such a deal). Ps, the car was ceased by bank due to payment failure from the previous owner. The scenario represented here is bogus, why will someone buy a 10 year old car at 12 lakhs. If someone is so concerned about his finances he would take better decision, even if he buys an old car it wouldn’t be older than 3 years if he is paying 12 lakhs and at that price he can easily get recent generation or the same generation model. Mine is the current generation, no one knows it’s a second hand unless i will tell them.
Pls talk about LIC policies, My mother bought a money back policy (Jeevan Anand) started in 2004 and matured in 2024, Sum Assured was 2lakhs, every 5 years I got 20k and at maturity in 2024 I got 80K. Is this a scam? I feel so
I was so eager to buy a used car that I went to the spot with cash. For some reason he said tomorrow. Then I came to know there is a hole on top, rain water leaks inside, u can insert ur hand in the radiator, there is no AC compressor unit under the Bonet. There I decide if I should buy a Car that must be new or else Die without it ...😂
Did not factor the opportunity cost of buying a new car. If somebody has the ability of compounding money at a high rate then makes sense to finance a old car.
A BMW will cost 40-50 k for every service. Also let's not even start calculating the fuel economy 💰💰💰 Buying a second hand car requires a lot of effort to finally zoom down to a good car. Better to save time and stress and buy a new car which is not a luxury(budget 12L). You would be much happier and at peace with that car. Cheers🙏
i think you should simply compare an old car for a bit less in the same category vs a new car Getting an old luxury car under 12 lakhs is any day a wrong decision. You'll pay way more money in maintenance and spare parts and fuel than buying a new car in the same budget so this video wasn't needed.. It's a very niche audience who would be confused between a BMW and a Maruti Suzuki🤣
When you buy any meaningful car, 60% of it goes to tax. So buying even a luxury car after 8 years is still a economically meaning ful decision coz you pay nothing to tax but car
Bought a used top end polo for 3.75L 8yrs ago. Spend around 1.25L on maintenance over the years and around 8k every year on insurance. The resell value now is at 3.5L and the car is still solid.
That's not a luxury car. Story changes when we buy a used luxury cars. the sensors and parts will cost a bomb
3.5 L inflation adjusted would be 1.5 L!
@@hemanth26 that doesn't work in autocar market.
You are mixing economy concept with mechanical concept which are two different thing. Car price much more depend upon Car conditions and how remarkable their presence was when they were launched so inflation won't do much damage to pricing.
thats a special car as many die for polo for some reason..
I don't think u are getting that price
A used German Luxury car will come with inherent risk a small issue will cost a lot to fix. You should set aside 5-6 lakhs just for maintenance in case you are getting a 7-8-year-old one
Not always true 😂
@amnsbharath issues such as changing suspension, ac issues, changing tires all show up at this point of time. All costs a lot.
And if you end up with some inherent issues like transmission failure or issues with engine it would costs you lakhs to fix. It's why the luxury cars depreciate a lot
Absolutely. Keep one lakh on service and one lakh for insurance
Spares for the used car will be equivalent to the spares of the new car in today's market value. Example 10 years ago Merc S Class was sold at 1.2cr but the spares for the same car won't be relevant to the 1.2cr car it will be proportionate to the 2.4cr 2024 car. So you have to remove your under wear everytime you service
Got myself an 6 yr Old car , Grand i10 Sportz , 27000 KM on the ODO at 4lakhs , all costs included . Got New tyres for free. 3 years down the line , the car is in absolute good shape , only requiring an yearly service as low as 3k on average , including oil and spares .i have run it for 30k KM extra . Got the car by 100 % cash at no debt . Happy and grateful !!
I am currently using my father's old Alto for local travel in a small town 2.6 lakh km on odo 18 years old. Still works ok. My father's current car has 2.1 lakh on odo. 9 years old 7 seater diesel car.
My father has to travel a lot.
When I see 20-30 k on someone's odo, I feel very weird as I have only seen figures in lakhs in span of 7-8+ years
@@sahilsood786 because most people does not use car daily. MIne is 6 yrs and still 22k odo,
Grand i10 is not a luxury car
@@le_ecrivaine pluto is no more a planet as it doesn't have it's own orbit around the sun.
My dad bought a 2nd hand EoN 12 years back.
It still running like fine-wine, no major issues till now, only scheduled maintenance, perfect for Bangalore roads as its still giving me 20Km/L.
are you really talking about Hyundai Eon?? that small cute car in whose ad Ranbir used to appear?
Bangalore traffic and 20km/L ? That lil car deserves to be worshipped
That's awesome! A well-maintained used car can be a great value.
@@Zero1byZerodha 💯
I would say go for used Toyota, hyundai or a honda. If you are not good with checking vehicle conditions go with a mechanic or go with used car platforms but you will get the vehicle 1-2 lakhs more expensive.
Dostcast ka podcast dekh ke aaye ho, ye gyan se smjh aa rha 😂
@@WittyMafiaTeam Dostcast mai cars ke bare me discuss karte hai kya mujhe pata nahi, koi podcast hai aisa to I would love to check it out. BTW I am a normal motorhead who loves car and also follow some youtubers like Gagan and Biturbo, btw itna time nahi milta thanks I will watch this Dostcast.
I’m watching videos while waiting for my new car delivery tomorrow 😂. By the way, I bought a Mazda here in Thailand 🇹🇭, and the best part is, there’s no tax on it!
🎉🚗🔥Enjoy the new wheels!
waaaaaah
There's no tax on it? Whaaaaaaaaaaat
@@darktitan8085 yup no tax, cars here are cheaper as compared to our India also the rate of interest is as low as 2.3% 😂
@@MsJAYDEEP1993 thats insane man 😳
Could have included the context of a non-luxury used car. Say a Swift or something similar. I know, demanding audience.
Would have been a great comparison for practical users like us
The mileage is 17 vs 13. 13 is not for bmw. It's an old Swift.
I bought my 1st car in 2019 a 10-year-old Chevrolet Spark Petrol for 80K and drove it for 2 month and sold for 90K.
Then I bought my 2nd car in 2019 a 10-year-old Ritz Petrol for Rs. 1.4 lakh and have drove around 30000 km. Now just this month I did the Reregistration for another 5year. The car has clocked 65K and I will keep this car forever. The Ritz is running super.
I Bought my 3rd car in 2023-october a 4-year-old S-cross Diesel 1.3L Facelift for 6.5 Lakh. I have drove it 22K in just 11 months. It’s a lovely car.
Now I just have (10days ago) bought my 4th Car a 5year old Skoda Kodiak 2.0 Litter Diesel for 15lkah. I know the maintenance is high so I have kept 1-2 lakh for that. (I will sell the S-cross) and ll keep the Kodiak & Ritz and ll sell the s cross.
So, in my opinion buying a used car is always a sensible decision.
Btw I am from Odisha.
Ritz is awesome.
It's Kodiaq
😂
are you a used car dealer, you keep stacking old cars my friend,
@@yashsagar173 I've switched 3 cars. Immense advantage of owning used cars.
@ unfortunately the peace of mind of owning a new car is not one of them
I like this style of video where you guys add humor in the conversation. Great
❤❤❤
One of the most underrated channel...Hat's off
I would like to see the same video for budget cars
He won't make probably funded by the car manufacturers.
A humble request to you guys please make a video on " how nominee can claim equity shares if any mishap happens to the investors " in these days retail investors are putting lost of their fund into equity, financial influencer are influencing about equity investment bt their is very less knowledge available in the internet about the nominee claim process ..
It is very important for investors any to their families to know the proper claming process.
Please guys make a proper video on this topic 🙏
You are right, please make a video on this.
@@Winzrful it is there is zerodha support articles, but not sure about video guides.
Yes, this is a topic that is absolutely necessary to learn. A request to Zero1 to make such a video.
We bought an alto 800 in 2014 (it's also does not have a ac or a powers steering) and it's been 10 years since and it still gives 20kmpl here in Shimla even though we have a Creta alto us still the go for anything we are doing in Shimla given the narrow roads
If someone is considering buy a used car for practical reasons, I would seriously recommend a 4-5-year-old alto of any kind given you do your due diligence and check it for any obvious structural defects and the engine but other than that everything else is pretty cheap to replace or fix
Bhai alto thodi lenge used 🤣🤣 bmw ya Mercedes ya jaguar lenge. Ye kaisa humour hai 😂
@@asurakengan7173 True, i dont see most people in the city buying a used alto but trust me its the go to car in the hills (ignis is also getting a bit popular these days).
Here small car is like what a scoter is in the plains, you might upgrade to a bigger car but you always keep the smaller one around
I also live in Palampur. I drive my father's old alto. 2 lakh + km on ODO. 18+ years old. Still works fine for short distances.
I mean u really can't compare buying luxury 2nd hand vs new car , majority ppl who go to 2nd hand have budget around 3 -6 lakhs and new to driving , so it makes sense to buy used than new
here they are comparing a used luxury car vs a new car.
Brother, if people were not buying used luxury cars bbt would have not been that big.
Haven’t watched the video yet! But I already bought an used Audi A4 2019 model in 2021 and I am very happy with the choice. It’s a difference of day and night between the Audi I bought and if I chose to buy a 25L new car like Harrier etc in the same range. Audi any day!
Can you say where you bought it from? I too want to buy
Looking at current prices of new cars, it makes good sense to buy a used car. But ideally buy a used car without taking a loan. Easy to say. Hard to practice.
editing and content is another level,it's really super fun
This was very very insightful
I am kinda motorhead. I’ve always wanted Polo as my first car. I somehow knew what i am getting into. I bought a polo gt on a good deal on less kilometres.
I must say maintaining a german car isn’t good for your pocket.
But damn the amount of fun i am having while driving the car is priceless.
My tip understanda “what you are getting into”
We bought a slightly used Audi A3. Since I used to be in auto racing before I know shops and mechanics who are top notch. Never maintain at dealers. The prices of private mechanics is low but the only problem is the spare parts which are costly. My mechanics can source from independent suppliers at lower costs. Only some very crucial parts like gearbox , water pump need to be bought from oem. But I still don’t advise it for lower level employees
Older german luxury cars have terrible service costs and complex engines which are made like that on purpose. If your transmission/engine fails, you would need to scrap it, as even the repair centres will say fixing the car is not worth the cost.
Also, in metros especially the max life if car is 15 years and after that it goes into scrap, need to keep this point in mind while buying an old car (10 year old car means only 5 years of life and zero value after that)
Quick suggestion, Do analysis between Buying a Car vs leasing if the firm allows that facility
If I had given an option of buying brand new grand vitara hybrid or 3-4 years old Toyota Camry
I’ll pick Toyota Camry any day.
Do I recommend buying used car over new car..?
Not always
However sticking with Japanese brands & do thorough inspection through a specialist before acquiring one can save your lot of money
these videos are GOLD.
Such an awesome way to drive a very important point. Your checklist are super helpful
Pratik, this video was good, but skewed towards luxury cars. Can you please do another video on similar lines considering a non-luxury cars. Question which I want answer to as like:
1. If I have 13/14L to spend on a car, I can get a brand new XUV3XO, Nexon etc, or I can get a 2-3 year old Skoda/Creta for same price (Reference from Spinny). Which one could be better?
2. In USA used car market is a big & matured one. Infact people buy more used car then new car. What is different there which gives people confidence to buy used car which is missing in India
3. As cars are depreciating asset (you explained in the video very well), should people look at used 3-4 year used car more preferably as the value of such cars have already depreciated enough & you wont loose too much money if you sell them after 5 years of usage?
Thanks
Here's my personal opinion:
1. If you don't have space constraints, go for a used Skoda/Creta definitely. Sub-4m cars (3XO, Nexon) are simply raised up hatchbacks and don't have enough space to stretch out. The mileage and maintenance difference will be minor.
2. In India, we're more worried about "if he's selling the car, there's probably a fault in it" which is also a fair fear. People here often just band-aid fix and let the other person deal with their problem. Not saying this doesn't happen in USA, but the chance of it happening here is higher.
Another reason could be the 15 year validity rule. A new car at the same price will be legal to drive for 2-3 years longer, as compared to a used one for the same money.
Then there's also the showoff thing. New car, ribbons on bonnet, celebration videos. It's still a status symbol (vs a tool, in USA)
3. Yep. Definitely. Just be wary of a lemon.
Prateek and Team, great job on video. Keep making such informative videos
Get a bmw with a highly reliable block with bunch of sales. Something like the F10 5 Series is one of the best picks and is pretty cost efficient if you know where to source spares from. I source myself from abroad so local availability isn’t ever a problem.
A single bolt in BMW that is being imported can take up to 30 days to reach your car. It can cost up to 1500 to 2000. That same bolt in Swift can cost less than 50 rupees.
BMW, the shocker repair/replacement cost is around 5Lakhs. the tyres are also pretty expensive
Bunch of things iffy with some points.
Running cost would be pretty much the same since there has been no major developments in the engines in the last 15 years.
Interest rates would be 10-11% not 13-14% (maybe on the high side if you have bad credit score)
Yes, maintenance will be higher but not that significant.
Service intervals remain the same, they don't become more frequent. It does get more expensive.
New cars depreciate more than used cars over 3-5 years.
All the points you have mentioned don't apply for used luxury cars, which is what the video is about. . .
Thanks for sharing truth..
Investment Cost is nearly 1/3 for 5 yrs old model,
When coming to resale Depreciation is 1/4 as compared to new one.
In 2020 I bought a 2016 model honda amaze SX diesel in 3.8 lakhs.After nearly 4 years running of 65000 kms & total 135000 expenditure on service, battery tyres and repairs It's resale price is 3.5 lakh ..
😂
@@radarroi27 if you've ever bought one you'd know. I'm talking about luxury cars only. I've had an Audi and a BMW so I'm talking from my own experience
@@Handapanda247 did u even watch the full video or just blabbering for the sake of it?
@@radarroi27 did you even read what I wrote or just trolling coz you can type?
When i buy a 2 year old used luxury car with about 20,000kms mileage that is worth around 1 crore new - i can get it for 60-70 lakhs . The original owner has beared the most of the depreciation . As long as I ensure the car is in a good state with proper inspection done presale - isn’t this a great vfm proposition rather than buying the car brand new ?
Also bear in mind i can even buy the 1 crore car brand new outright with cash comfortably if needed , so it is not that i am buying it used because i cannot afford it , but rather from a sensible money saving pov ?
Any opinions appreciated!
Fair Point. It depends on case to case.
TBH I am also in a dilemma about this same thing.. Getting a first owner second hand car which is just 2-3 years old might be that sweet spot where you know it won't be in bad condition + majority of depreciation will be on the first owner.
Second hand might be bad when someone gets more than 5 year old car which might be available for less than 50% price but its maintenance cost would be a lot.
@@vishalvijayaregu2223 completely agree
Right time thinking about this quite a long time
When something’s been on your mind for a while, it usually means it’s worth exploring-and that’s exactly where this episode comes in!
Bought used sx4, added cng, running cost lowered. Cheap maintenance of maruti. Satified overall 😅
Yaaar samjhane ka tareeka tumhara 😘😘 awesome
Bohot Bohot Dhanyawaad ❤
nowadays buying new car cost includes a hell lot of taxes
almost 30-50 percent is taxes
try buying the same care in resale which reduces its price and we also dont have to pay huge taxes as well.
It’s definitely something to keep in mind when weighing the pros and cons of a new vs used car.
The edit of the video is sooooo confusing. The points are good and understandable but it feels odd to watch the video.
Definitely the maintainance of a luxury car would be on a higher side, commenting from experience. And also one needs to check the service record before buying any second hand luxury car.
Dude you guys just made me realise my financial knowledge needs to improve
Sir aapke videos binge watch kar raha tha.
Ab main apne papa se bhi zyada kanjoos ghoshit ho chuka hoon
Buying an used luxury car with lot of kms or more than 5 year old is very risky coz maintenance cost will be very high and parts availability as well.
But buying a Maruti won't be that risky as parts are cheap and has low maintenance cost .
Sir, it all depends on many other parameters I am using 10 years old toyota prius in Europe from 3 years no problem no maintenance cost and great value for money... we have to check service history n any accident history and brand value then go for second car 😁
I was waiting for the bloopers guys! 🥲
The thumbnail shows swift but in video talks about BMW 😂
Was there a Papa-Boss PTM before this shoot ?
I paid Full Cash of 2,00,000
Milage 40
I have A Electric bike. Vehicle Age 3 Years 1 Month
I have Driven 12,000 ( Note Saturday And Sunday I work as Swiggy and rapido )
Now I have 2 Bikes which means for next 3 year I might drive 6000 KM on 40 KM Milage Bike
Which comes around 15,000 which means 5000 a Year
Or 400 a month
I am not counting the First 1000 KM since I'll be completeing as fast a possible and I have already kept money aside
This video is great. But as others suggested do the comparison for budget segments car.
Got it, will do 🙌
I personally hate EMI's except buying a house and gold jewels cause those are a long term asset, EMI has the only meaning i.e "We don't have enough money to own that product". We need to follow the older ways, lets use piggy bank and buy any product we want
exactly. for property purchase , EMI is understandable but people are buying smartphones at 12 EMIs which is ridiculous.
can you make a video on the insurance process. My vehicle was recently stolen and the whole process seems very lengthy and there are lots of documentations
Used cars have more problems agreed. I get my car serviced and repaired in known garage so the maintenance is comparatively cheaper. Cost of parts is sometimes 7 times cheaper. Buy a used car only if you know a good mechanic who can diagnose problems beforehand
The coolest Boss ever 🌟🌟🌟
Can I know from where you got that mustang poster in the back?
Guess, that is from Photoshop
If a car is 10 years old then insurance will not pay for any part, and spare parts are really costly, forget about BMW, Audi, and all, I have a Honda, and even its parts are very expensive and the service center keeps on increasing the price of parts and other charges. The steering rack was 53K two years back now it is 93K.
Buying a car doesn’t matter either used or new. It’s fully depends on maintenance. If it’s old owner maintenance is well then well and good to buy that car.
Then what one should do will go for the bew one or the used one or none!???
how is the option of going for a used reliable car like a Toyota instead of aa luxury vehicle?
Thank for creating this video.
Just wanted to ask. Did you guys stopped dubbing your videos to Hindi, or are you still doing that, coz that's the reason I never gone back to watch those videos on Hindi channel
Makes sense, we have stopped dubbing and now are attempting to make original content shot in hindi. Wish us well 😬😬
I am 500% sure that your Hindi channel will also be a superhit once original content with original voice will start rolling.
Thank you, that’s so encouraging. The episodes likely go out first week or second week of December :)
@@Zero1byZerodha waiting eagerly 😇
But what if my budget is between 5 to 7 lakhs and i dont buy a old premium car i just buy an old Suzuki or Tata then ??
Are you comparing loan vs full payment in first half of video instead of used vs new car
Pls add the conclusion sir.
Next Video buying land-then building house vs renting vs buying flat.
Next to Next video - Best place to settle in india
LOVE THIS!
Thank you 🙌
Sir has a checklist for everything 😄
😜
Sir needs to read the Checklist Manifesto.
Sir has a checklist for checklists
According to my checklist…..I must have a checklist
“So I should not live ?”
“No answer."
Buy car from known person like friend or family member , you know what you are getting into
First of all the example is wrong not all people will buy BMW some how has on budget and want reliability will go for Honda or Toyota etc.
Second is milage now what u said is right that it will reduce when it gets older , but it also depends on person's Usage and car life us lower ur usage lower will be the cost.
Third maintenance now it also depends of car life and spare parts available in market ex. U will see high cost for ford car as company does not operate anymore but if u go for honda city it won't be problem if u are afraid of parts not working either buy original or by insurance which cover such cost.
Forth for loan if u are new or first time buyers banks mostly rejects their application due to low income or new enterent to job market, but if u buy for old car bank may charge high interest but if ur on 5-6 lakh budget and 20-30% down payment then bank will give u loan. Also u can create opportunity to build credit history for future new car as chance of fulfilling loan for second hand car is much easier than new car which will cost more.
In the end it depends on person to person and their needs, financial situation etc. Also many are afraid to purchase second hand due to frauds which is true in that case go to big aggregator like Cars 24 etc. As they have stringent check policy or car dealer of ur relatives or friends.
Buying second hand luxury car is stupidly, Most of the people sell the luxury cars when the warranty period end(5-7 years) to avoid big repairs.
2 years ago bought a second hand budget car for 7l from direct owner and never spend any money than a regular maintenance.
Best Idea would be to make your boss buy it as company expense. Hey you can look cool. You can drive a BMW and well your boss as he is this cool. You are also set😁
Yeh Abhishek zyaada hi friendly ho rha h
What about a non-luxury car? And if I am buying the entire car in cash without any loan. I might get a normal 2nd hand car within 5-6 lacs, is that a good purchase?
Yes, go for it. I've bought a Polo 2014 model. Best purchase. It had been 3 years so far no issues. Had to change the tyres and a few minor things and I service the car once a year with an average running 1200 kms in an year.
Its nice to see this type of presentation but its too much cross talk. It hinders the flow of topic.
You gotta make a video about freelancers. Don’t want to reveal secrets, but some of us have genuinely found ways of escaping the ridiculous taxes in India and having a lot more freedom (and money) thanks to international clients ;)
Tell me more
Sir next video about Home loan
I might Just book a Cab 🙂 , Zindagi mein problems ki kami hain kya ... jo list mein ek aur add kar lu
I brought hexa xta 2017 automatic in 5.5 plus tyre chnage around in 6 lakhs
Bought a 2 year old tata, at half the original price, invested 1 lakhs on mods, now it looks like a car from nfs mw, the fortuner, venu, nexon etc owners asks me about the car. When I say it’s second hand they feel a sense of fomo, (ah why can’t i get such a deal). Ps, the car was ceased by bank due to payment failure from the previous owner. The scenario represented here is bogus, why will someone buy a 10 year old car at 12 lakhs. If someone is so concerned about his finances he would take better decision, even if he buys an old car it wouldn’t be older than 3 years if he is paying 12 lakhs and at that price he can easily get recent generation or the same generation model. Mine is the current generation, no one knows it’s a second hand unless i will tell them.
Pls talk about LIC policies, My mother bought a money back policy (Jeevan Anand) started in 2004 and matured in 2024, Sum Assured was 2lakhs, every 5 years I got 20k and at maturity in 2024 I got 80K. Is this a scam? I feel so
Scam - no,
bad deal - absolutely !
Prateek making me close OLX soo fast that my phone crashed 😅
Prateek creates an entire video just to avoid granting leave to the guy😅
Dedication 😬😬
"you're not my bro" . Lol such a boomer!
I was so eager to buy a used car that I went to the spot with cash. For some reason he said tomorrow. Then I came to know there is a hole on top, rain water leaks inside, u can insert ur hand in the radiator, there is no AC compressor unit under the Bonet. There I decide if I should buy a Car that must be new or else Die without it ...😂
Did not factor the opportunity cost of buying a new car. If somebody has the ability of compounding money at a high rate then makes sense to finance a old car.
A BMW will cost 40-50 k for every service. Also let's not even start calculating the fuel economy 💰💰💰
Buying a second hand car requires a lot of effort to finally zoom down to a good car.
Better to save time and stress and buy a new car which is not a luxury(budget 12L). You would be much happier and at peace with that car.
Cheers🙏
Please compare buying a used BMW for 12 lakh vs new for 70 lakh. The maths will be fun 😂😂😂😂😂
ho ho ho abid is here wow love him
Bro I am literally not in the video but thanks love you too :)
i am not here for thr car, i am here for abhishek
Ye aadmi is bechare ko kuch lene nhi dega 😂
😂😂😂
I think comparing purchasing a 12 lakh new car with a 12 lakh old car is wrong. It’s more comparable to buying a 3-6 lakh worth old car.
Title should be "Used luxury vs new budget car".
Otherwise most of the points discussed here are not relevant for used budget car.
Travelling daily 50 km on average? That too for the whole year? This is rubbish calculation
The drama around education is highly annoying
Am I the only one who is thinking there is something missing from the video(content) ?
i think you should simply compare an old car for a bit less in the same category vs a new car
Getting an old luxury car under 12 lakhs is any day a wrong decision. You'll pay way more money in maintenance and spare parts and fuel than buying a new car in the same budget so this video wasn't needed.. It's a very niche audience who would be confused between a BMW and a Maruti Suzuki🤣
When you buy any meaningful car, 60% of it goes to tax. So buying even a luxury car after 8 years is still a economically meaning ful decision coz you pay nothing to tax but car
Like to style but content way very okay
Only buy an old bmw is you can afford a new bmw. Those things are expensive
For a new car loan is given the basis of ex showroom price not on road price false information
Great content but Trust??
Zerodha allocated 4 Mbps per trader and the guy filed a case and got compensated 😂😂😂
How do we trust you guys 😏😏
where are the bloopers sir, I really miss those funny bts moments