In 2019, the value of the pre-owned market in India was more than USD 24 billion, and the compounded annual growth rate (CAGR) during 2020–25 is estimated at 15.12%. The evolution resulted from the growth of organized and semi-organized sectors.
With the transition from BS-IV to BS-VI in April 2020, new cars may see an increase in their prices due to the additional technical expenses. Therefore, the demand for pre-owned vehicles may rise.
The organized segment in the used car market is expected to witness a CAGR of 22.79% in the forecast period. Sales in this sector have steadily grown over the last three years. The increase was primarily due to factors like the rise in online dealers and higher sales in the metropolitan cities.
Almost every major original equipment manufacturer (OEM) is now present in the pre-owned car market. Renault launched its used car business in 2015, and Nissan followed in 2017. Since then, OEMs like Toyota, Maruti Suzuki, Hyundai, and Mahindra have their pre-owned vehicle network. Leading luxury brands like Audi, JLR, and BMW also have their network.
Why used cars?
Although the public transport system in a city like Mumbai is excellent, having a car makes the commute easier. A used vehicle provides an affordable way to own your four-wheeler.
When you choose a pre-owned car, it is important to work with a reliable dealer that checks and certifies the vehicles. This is crucial to ensure that you do not end up with a car that gives you trouble, especially if you opt for used car finance.
There are hundreds of used car dealers in Mumbai. However, you may be confused about making a suitable choice. Here is a list of the top five used car dealers in the city:
- Shaman Used Cars
This dealer has some of the best-maintained pre-owned vehicles in its two showrooms at Vile Parle and Goregaon. The cars are in good condition, and this dealership provides excellent value for your money. Shaman also ensures that the entire documentation is completed in the right way without any hassles.
Truebil.com is where you can meet potential sellers. Apart from being a good dealership when you are looking for a pre-owned car, it is also an excellent choice if you want to sell your vehicle. Top-notch quality and best prices are some features that make this dealer immensely popular. It is located in Andheri East.
- Mahindra First Choice Wheels Limited
This can easily be your first choice while searching for a good quality pre-owned car. The dealer has multiple showrooms across the city, and you can find one close to your home. Mahindra First Choice certifies all pre-owned cars, assuring the best quality. When you buy a car from here, you can also avail of an attractive used car loan.
- Car Zone
Located in Andheri East, do not be deceived by the size of this dealership. You will find superior quality cars and accessories at competitive prices, making it an excellent option for finding your pre-owned vehicle.
It is one of the largest showrooms of pre-owned vehicles located in Goregaon West. You can find a wide variety of used cars at this dealer.
Funding the car
Are you worried about how to fund your purchase? Do not despair. You may avail of a second-hand car loan from lenders like Mahindra Finance. Such loans are available with promising features. The entire procedure is easy, and you may complete it online.
Contrary to perception, the used car loan interest rates are affordable and offer flexible repayment terms to ensure you have no difficulty in paying installments on time. You may avail of up to 100% of the car value as the loan amount. The used car loan eligibility is simple, and the lender requires minimal documentation.
Visit Mahindra Finance’s website and drive your preferred car today!