It’s said that the used car market is more than twice the size of the new car market in India. There are many who go the used car way to drive home a model of their choice whilst saving a considerable amount by not buying a brand-new car. Well, it surely makes sense to buy a sparingly used and a well-maintained car instead of a new one, especially if you take into account the money you can save. However, here are a few cars that retain their value pretty well. While sellers of these cars benefit from the high resale, the buyers generally don’t mind spending a bit extra for the reliability and/or ease of maintenance these cars offer.
Akin to the earlier generation, the new Fortuner has been a great hit with the premium SUV-buyers in India. Even in the used car market, the Fortuner is a very popular model, which sells in good numbers in spite of the relatively higher price it commands. Much of this is due to its brand image and Toyota’s best-in-class after-sales support. Seen above is a 2017 Toyota Fortuner 2.8 4×2 MT that’s going for Rs 31 lakh on one of the e-commerce websites. A new one costs Rs 32.74 lakh (on-road). The SUV has run for less than 9,000 kms, which makes it almost as good as new. Plus, you save more than a lakh rupees.
The Mahindra XUV500 is another SUV that’s as popular in the used car market as it is in the new car space. Much of this is due to the bold design, powerful engine, comfortable cabin, and Mahindra’s wide service network. A new Mahindra XUV500 W6 AT costs Rs 17.84 lakh (on-road). However, here is a used XUV500 W6 AT going for Rs 15.85 lakh. While it’s less than Rs 2 lakh of difference, you get less-than-a-year-old car that has run just 9,000 kms. The seller, on the other hand, benefits from a low depreciation rate.
The Renault Kwid is another car that enjoys a pretty high resale value. The Kwid is a pretty popular car as it offers a spacious cabin, frugal engines, and ease of maintenance. Hence, it’s a popular choice even in the used car market. Here is a used Renault Kwid RxL that’s on sale for Rs 3.25 lakh. In comparison, a new one costs Rs 3.8 lakh. So, you end up saving Rs 55,000 by buying a car that is less than a year old and has run less than 5,000 kms.
Hyundai Elite i20
The Elite i20 is the only hatchback from Hyundai that retains its value pretty well. Here is a used 2015 Hyundai Elite i20 Magna Kappa petrol model that has run less than 30,000 kms and is on sale for Rs 5.25 lakh. In comparison, a new one costs Rs 6.58 lakh. So it’s a depreciation of around 20% in more than 2 years.
The new Maruti Baleno is another premium B-segment hatchback that enjoys a high resale value. Seen here is a used 2016 Maruti Baleno 1.2 Delta petrol model that is on sale for Rs 5.75 lakh. A new one costs Rs 6.52 lakh (on road). So, basically, this car has depreciated by less than 10% even after more than a year and 15,000 kms of running. Amazing!
The Creta is a highly popular SUV from Hyundai. It enjoys a very high popularity in both new and used car market. Thanks to the high demand, its resale value witnesses less-than-usual depreciation. Here is a used 2016 Hyundai Creta SX AT Diesel model that is going for Rs 13.75 lakh. A new one costs Rs 17.2 lakh. So, that’s around 20% depreciation in more than two years. Not bad!
The Honda City enjoys a very high brand image in India. No surprise, then, that it ends up having a high resale value in the used car market. Here is a used 2016 Honda City that has been listed at Rs 8.95 lakh. The car is over 2 years old and has run 9,000 kms. A new one costs Rs 10.86 lakh.
While the second-generation Swift is no longer available, it’s still a popular model in the used car market. Here’s a used 2015 Maruti Suzuki Swift that is on sale for Rs 5.5 lakh. A new one went for roughly Rs 6.75 lakh on road. So it’s a depreciation of roughly 20% in more than 3 years!
Another really popular mid-size sedan that enjoys a great resale value is the Maruti Ciaz. Here’s a used 2015 Maruti Suzuki Ciaz ZXi AT that has been listed at Rs 7.49 lakh. The car has run almost 53,000 kms. In comparison, a new one costs Rs 11 lakh on road.
The Alto is another small car that enjoys. a huge popularity. Thanks to the trust that comes associated with owning a Maruti, cheap spares, a wide service network, and a high mileage, the Alto commands a pretty high resale value. Here’s a used 2013 Maruti Alto 800 LXi that has been listed at Rs 1.80 lakh. A new one costs Rs 3.1 lakh on road. Basically, it’s around 40% depreciation in more than 5 years!