Home   >>    Loan   >>    Car Loan   >>     Overview
Get Car Loan Offers
A maximum of 5 providers will compete to give you the best rates (Apr 2018)







I authorize the website and its partner providers to call or SMS me in connection with my application & agree to the Privacy Policy and Terms of use

Used car prices crash

Used car prices crash

Apnaloan.com Research Bureau

05 Feb 2008

Prices in the used car market crashed by up to 15-30 per cent, after Tata Motors displayed its Rs 1 lakh car at the Delhi auto show.

The Nano, which is due to be launched in October, will carry an on-road price of about Rs 1.3 lakh (for the base model), which is lower than the price of many used cars in the A segment (which includes the Maruti 800 and Alto).

The price of a second-hand Maruti 800 has dropped over 30 per cent since the Nano was unveiled. To give an indication, the price of a 2002 model has dropped from Rs 1.1 lakh in December to Rs 75,000 today.

A 2003 Hyundai Santro that was earlier available for Rs 2 lakh is now available with an 18 per cent discount at Rs 1.65 lakh.

A 2003 WagonR is currently sold at Rs 1.8 lakh, after a discount of Rs 33,000.

A three-year-old Alto has now become affordable to the former used-Maruti 800 buyer, at just Rs 1.10 lakh.

Analysts and dealers predict that used-car prices will only head further south once the Nano hits the roads.

Accordingly, used-car dealers are bracing themselves for a squeeze on margins. The small car market contributes to 70 per cent of sales; used-car dealers might have to focus on high-end cars.