Tata Nano was launched with great fanfare as a Rs 1 lakh car, but it could not maintain that price tag for long. But if you are searching for an entry level hatchback with Rs 1 lakh budget, you may still get it. There are options for those wanting to buy four-wheels in that budget in the larger Delhi-NCR area. Ofcourse, getting a car at that price point means you got to be flexible on the usage, and age. Today at Cartoq, we scan the used car websites to find out if buying a used car for as little as Rs 1 lakh can be a reality. To help you figure out the best deals, we have used the Cartoq TRUE PRICE to spot potential winners. Built from scratch by the Cartoq Data Science team, we use a Machine Learning model that estimates the TRUE PRICE of a used car. It accounts for all sorts of variables – brand, model, age, mileage, car type. In this way, it captures all the relevant information and gives a price.
Please note that the best deals are those where listed price is lower than the TRUE PRICE. This shortlist for this article was based on the analysis we ran on June 5, 2019, and so there is a good chance that the specific car may no longer be available. Even if these specific cars are not available to you, there are some key takeaways.
• In Delhi-NCR zone, Altos are the only model that come at that extremely tight Rs 1 lakh budget
• Most of the used cars under Rs 1 lakh price tag will be reasonably old, otherwise it would be difficult to procure a used hatchback at this price
• Surprisingly, the usage of sub Rs 1 lakh cars is not extremely high. For example, there are no cars here with odometer reading of 1 lakh km
That being said, here are our 3 recommendations.
Recommendation #1: Maruti Suzuki Alto K10 LXi
Year: 2015 / Mileage: 70,000 km / List Price: Rs. 100,000 / Ex Showroom Price: Rs. 354,587
WHY BUY: The Maruti Suzuki Alto K10 is more than just a small car. It is a statement. Known to offer competitive mileage which lowers cost of ownership, this car is just 4 years old and comes a jaw-dropping 70% discount to ex-showroom rates. You get this mid range variant for your budget i.e. Rs 1 lakh. Fuel economy, and drivability remain plus points.
Recommendation #2: Maruti Alto 800 VXI
Year: 2011 / Mileage: 45,000 km / List Price: Rs. 100,000 / Ex Showroom Price: Rs. 339,948
WHY BUY: Maruti Alto 800, which derived the famed 800 cc engine from the Maruti 800, is the best-selling family hatchback car in India. This car has not even done 50,000 km, which means you can have years of hassle-free ownership. The Rs 1 lakh selling price tag means you are getting a car at almost one-third the price of a new one. Plus, the Maruti service edge will ensure a smooth journey and reliability.
Recommendation #3: Maruti Suzuki Alto LXi
Year: 2013 / Mileage: 78,000 km / List Price: Rs. 100,000 / Ex Showroom Price: Rs. 291,502
WHY BUY: While this car has done 78,000 kms, the age of this mid range variant is between the other two cars. Some buyers prefer buying a car that is not too old. Being a Maruti Suzuki Alto, the car comes with dependability, service promise and fuel economy. It can be yours for 65% less than the ex showroom price.
Truthfully, not even good two-wheelers come at Rs 1 lakh price point. Finding a four-wheeler at that price can be a real challenge. But, as our analysis shows, there are deals out there in the larger Delhi-NCR area. You have to strike a balance between car use, age of car and the asking price. The comforting factor is that these are Altos, which come with the Maruti Suzuki advantage.
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