Second-Hand Cars in Bangalore
The tendency to buy second hand cars is being studied as a result of the economic background of the people of a country and the car’s value at the time of buying. The usage of second hand cars has found its way into metro cities like Bangalore, Delhi, Mumbai as a result of the different class of people the cities accommodate. Since communication is a key element in these cities which have several locations for residence and jobs, cars are rather thought to be useful for the people to easily avail transportation to their desired location.
It has been found that the value of a car depreciates by 50% in the first year, it becomes easily affordable by people who have a need as well as financial constraints. In most of the cases, it has been found that a three year old vehicle is similar to a new one. Also, the market for second hand cars is rather supply driven and not demand driven. According to an IndianBlueBook report, 45% of the buyers want a car that is four to five years old but 46% of the sellers like to sell their cars when it is six to eight years old. This shows that the market for second hand cars is supply driven. The cities are the places where this service of buying and selling of second hand cars are taking place.
Pre-owned cars in Bangalore have found a market for themselves owing to the growth of second hand cars in the city. There are several websites which provide the provision to book a second hand car in Bangalore at a good rate. Most of these websites provide information about the cars which are required to sell them. As mentioned, the tendency of the owners to sell their cars is mostly after a period of six months. The market for second hand cars in Bangalore provides all sorts of information about how old the car is, how the functioning of the vehicle is and if there are any concerns which the buyer has to be aware of before buying the car. This market operates with agents who act as the mediator between the buyer and the seller. In this situation, both parties never really come in contact with each other. They act through the agents who are responsible to exchange all the relevant information with each other. These agencies or the websites are well verified and they are provided with credible certification to evade any issue of forgery.
The second hand cars in Bangalore face real competition as the market for the same has been expanding over years leading to coming of more players in it. There are online services as mentioned and there are offline services as well. The agencies try to include various components which a buyer may want to consider while buying the cars. There are provisions like 6 months warranty, 7 day return policy and test drives for the customers. The official documents are also shown to the buyer in case of confusion and the process carried out is very transparent in nature. The seller would get the needful money for the selling of his/her car and the buyer would return home with a satisfactory car that they may have chosen.
Since Bangalore is a city where highly skilled professionals dwell, it makes a rather convenient home for people who want a good market to sell their skills. This generally results upon creation of an upper class society which owns a considerable amount of wealth. The situation is relevant in the second hand car market of the city. There are many websites which sell pre-owned cars in Bangalore which falls under the category of luxury cars belonging to companies like Audi, BMW, etc. These dealers have a different customer base which might be small in number but is qualified enough to spend lakhs of rupees on a pre-owned three year old luxury car. The electronic city lives to its name as most of these transactions are via electronic medium. In most cases, the buyer remains unknown to the seller and vice versa. This helps to maintain anonymity between the parties.Bangalore is a city with a growing population with the establishment of new industries. There are people moving into the city for their jobs in the IT industry. With the growth in population, there has been a demand for the vehicles as well with cars being the most preferred one. Since not everyone is capable to buy new cars, they rely on second hand models for it. This trend has grown over years by making Bangalore a very prominent city in the business of second hand cars.