Today, everyone is elated at the prospect of purchasing a new car. At the same time, its resale value after 3 or 5 years is also a matter of concern for most new car buyers.
While in ages past, people retained their vehicles for a prolonged period of time, new statistics has revealed that as on date, on an average a large number of urban buyers replace their vehicles after a period of five years.
Most new car buyers do not have any idea about the worth of their old car. The way they come to a price after asking around some dealers, or checking the price of similar cars on online sites. Yes, such technique is more or less correct, but not for all. If you have maintained your car in A+ condition, you should get more money for your old car.
Now, a user guide has been published, which has been created after taking data of lakhs of old car sold over the years. This user guide gives a basic idea as to what is the best resale value for some of the car models in India, assuming that the vehicle has been driven for an average of 25,000 kms in 3 years and 40,000 kms in 5 years.
There are a number of other factors that determine the value of a used car after a period of use. The age of the vehicle is one such deciding factor while number of kilometers traveled is also taken into account. The model, current demand in the market, condition of the vehicle, if it was involved in any accident or has been repaired and repainted will also play a significant role in deciding its market value.
It can be noted that models such as the Toyota Innova and Maruti Suzuki Ertiga command the highest resale value due to their high demand in the personal, commercial and taxi segments. The Ford EcoSport also finds itself at the top of the list where resale value is concerned due to the fact that there is high demand for this vehicle with a waiting period of 4-6 weeks. Resale value of a vehicle also depends on the use of fuel with a petrol / CNG vehicle having higher demand than a diesel vehicle due to a lower cost of the fuel and economies of maintenance.
Below is the list of cars which will give you highest resale value in India;
1 – Toyota Innova
2 – Maruti Ertiga
3 – Ford EcoSport
4 – Maruti Swift
5 – Toyota Fortuner
6 – Hyundai Verna
7 – Maruti Eeco
8 – Maruti DZire
9 – Maruti WagonR
10 – Hyundai Elantra
11 – Maruti Alto
12 – Hyundai Santro Xing
13 – Hyundai i10
14 – Renault Duster
15 – Honda City
16 – Hyundai i20
17 – Mahindra Scorpio
18 – Mahindra Xylo
19 – Maruti Ritz
20 – Hyundai Eon
via livemint
