How many times have you dreamt of owning a luxury car, well I have always done that. Guess what now is a chance to make your dream come true, if you’re rich enough and not like me though.
You can pick up a six-month old beauty for half the price of a new one.
Blame it on the economy, the pink slips, salary cuts and the suddenly-unrealistic EMIs that’s leading people to drop their BMWs, Mercedes and Land Cruisers like hot bricks.
While some prefer to use their company transport, others have gone in for smaller cars. “I gave up my Skoda for Rs 4.5 lakh which I bought for Rs 6 lakh five months ago. And now I own a Maruti. I’ll buy a luxury car when the market improves,” said Bopaiah, a software professional.
No buyers
As a result, it’s raining cars at used-car showrooms in the city (Bangalore).
“A used BMW car that was Rs 65 lakh last year is for sale at Rs 45 lakh. A Mercedes Benz E series that ranged from Rs 45 to Rs 60 lakh is now available for Rs 30 to Rs 35 lakh. Honda Accord that was above Rs 19 lakh is available for around Rs 10 lakh. Similarly, a Toyota Corolla that cost between Rs 14-15 lakh has come down to Rs 8-plus lakh,”
Few takers for new cars
(Car sales statistics in India, year-on-year)
Car sales declined 3.2 per cent with 1.10 lakh car sale in Jan 2009
Hyundai saw a 13.5 per cent decrease in sales
Tata Motors witnessed 9 per cent decline in its sales
Honda Siel cars sales fell by 26 per cent
Old or new?
Auto consultants say it’s better to invest in new cars than used ones. “Prices of new vehicles have come down and secondly, the interest rate on loans for used cars is much higher. The depreciation value drops on the purchase of a used car,” but what the hell am not rich enough to own one, so I jus thought you might want to know.






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