Your budget is limited, about Rs 2 lakh. You are first-time buyer, and don’t want to be stuck with car that’s troublesome. Even with such narrow requirements, if you search for cars on any of the major used car sites, you are likely to end up with more than 200 options on each site. And you’ll find cars at all sorts of prices – from Rs 75,000 to Rs. 200,000. Are the more expensive options better for you? How do you build your shortlist?
Used car websites do little to help except give you multiple filters. Then it is up to you to figure out the best deals. But there is another solution now.
We could use the Cartoq TRUE PRICE to identify the best deals. The Cartoq Data Science team has built a Machine Learning model that estimates the TRUE PRICE of a used car, after accounting for all sorts of variables – brand, model, age, mileage, car type.
Also read Buyer’s Guide for Competing Models: Maruti Suzuki Wagonr
With all factors accounted for, it predicts the TRUE PRICE, which then becomes the basis of comparing across cars. The best deals are those where listed price is lower than the TRUE PRICE. So we scan through the car listing across major used car sites, compute their TRUE PRICE, and identify the best deals for you. The shortlist for this article was based on the analysis we ran on May 16, 2019, so by the time you read this article, there is a good chance that the specific car may no longer be available.
But the list still provides some useful pointers even if these specific cars are not available to you [all these deals are available in Delhi NCR].
Hyundai cars lose value faster than Maruti Suzuki cars, which means:
• There are good deals to be had and
• A bit of effort and luck should get you a good i10 – a clear step-up over Altos and EONs – within your budget.
Let’s dive into our top recommendations.
Recommendation #1: Hyundai Eon 1.0 Era Plus
Year: 2016 / Mileage: 25,000 / Asking Price: Rs. 190,000 / OP: Rs. 435,000
Why buy: This stylish alternative to Alto tops the list. While the asking price of Rs 1.9 lakh is near the top-end of your budget, the car with 25,000 km has the fewest kilometers clocked of any cars on this list. And that should mean hassle-free ownership for a quite a while.
Recommendation #2: Hyundai i10 Magna 1.2 Kappa II
Year: 2012 / Mileage: 37,000 / Asking Price: Rs. 140,000 / OP: Rs. 462,000
Why buy: The No. 2 entry on this list, the i10 Magna represent a definite step-up from the entry level buys [Maruti Suzuki Alto, Hyundai Eon]—you get more space, more style, more power, more features and better build. And yet it costs only 1.4 lakh for a under-40,000 km specimen—what’s not to like!
Recommendation #3: Maruti Suzuki WagonR VXi CNG
Year: 2010 / Mileage: 49,000 / Asking Price: Rs. 195,000 / OP: Rs. 494,000
Why buy: If you are willing to spend your entire budget, then the 3rd entry on the list, Maruti Suzuki WagonR, is hard to beat. The hugely successful Wagon R is the most spacious car in its class and comes with low ownership cost. The latter is further enhanced by the fact that this one runs on CNG too.
Recommendation #4: Hyundai i10 Magna IRDE II
Year: 2014 / Mileage: 40,000 / Asking Price: Rs. 190,000 / OP: Rs. 462,000
Why buy: A slightly newer—by two years—alternative to the No 2 car on the list, this i10 easily trumps Altos and Eon on everything from space to power to comfort.
Recommendation #5: Hyundai Eon Era Plus
Year: 2014 / Mileage: 38,000 / Asking Price: Rs. 150,000 / OP: Rs. 385,562
Why Buy: A significantly cheaper—by Rs. 40,000—alternative to the No 1 car on the list, this Eon is couple of years older with about 13,000 km more than the list topper. However, it should still be good for another 30,000-40,000 km. And you get to save forty grands.
The list captures compelling buys—both at top end of your budget as well as those well within. There are plenty of Eons as well as i10s on the used car market— the key is finding one with the right compromise between usage and price.
Also read Best deals for used hatchbacks in Delhi-NCR for Rs 1 lakh from CarToq True Price