Buyer’s Quandary: Why Are Individuals Still Concerned of Purchasing a Used Luxury Vehicle?
Here is an article by Mr. Sumit Garg, MD and Co-founder of Luxury Ride in which he explained evolving dynamics of car consumers and new trends of car owners in India.
The pre-owned luxury car industry has come a long way in recent years. According to a report by OLX Autos and CRISIL, a steep rise has been registered in the demand and supply of pre-owned luxury cars in the first half of 2022. On one hand, where the industry is expanding at a promising rate, a substantial number of consumers are still plagued with skepticism about purchasing a pre-owned luxury car.
The prime reason for this apprehension is the lack of awareness about the pre-owned luxury car industry. People still believe it to be an unorganised sector and fear being duped by the local dealers. Though the sector is disproportionately bifurcated between organised and unorganised models, in recent years, a substantial number of organised players have made their inroads in the market. They are changing the otherwise scattered segment by giving a structural framework to the pre-owned luxury car industry. Seeking the services of these organised players can relieve the inhibitions looming around potential customers. Listed below are some common doubts prevalent amongst consumers that can be avoided by purchasing from a certified pre-owned car dealer.
- Limited choice
Selecting a car of one’s choice is not an easy task. It requires a lot of research, scanning through various models, and comparing the features. Amidst all this work, there is a common complaint that the pre-owned car industry has limited models to offer. The problem arises when customers go to local dealers to purchase the car. And time and again, find themselves in a tough spot where they need to choose between a high-end model without proper maintenance or a car in good condition with an intact engine, suspension, and other parts but do not fulfill their wish list of features. Therefore, searching for a model perfectly suiting one’s choice becomes challenging.
On the contrary, purchasing a pre-owned luxury car from a certified dealer mitigates this issue of limited choice. They ensure a timely supply of models to offer a wide range of options for customers to choose from. Understanding the requirement of the customers, they leave no stone unturned in fetching the car of the customer’s choice. During the time of the pandemic, for the convenience of the customers, the organised players transformed their services into a hybrid model for bringing the perfect confluence of online and offline assets. It helped the customers explore a wide range of models from the convenience of their homes and at the same time also enabled offline visits to stores for proper assessment of the car before purchase.
- Substandard quality product
Usually, local dealers dealing in the pre-owned luxury segment re-paint and remove the dents in the vehicle to hide any accidental damage or defects to the car. Hence, customers fear being tricked by local dealers and even find it difficult to strike a fair deal with them.
Opting for an authorised dealer on the other hand, gives an added advantage of thoroughly inspected vehicles that have undergone end-to-end examination, leaving no space for any damage or defect. Along with this, they provide a complete history of the car with information on mileage numbers, distance traveled, and servicing records.
Where they maintain the condition of the car with quality check-ups, they also help customers strike just the right deal for the car. Furthermore, to ensure that the customers get value for their money, the cars offered by certified dealers are well-supported by warranty, certification, buy-back schemes, and few days replacement plans.
- Documentation hassles
Documentation is invariably a lengthy and laborious process because of which people try to avoid it. The entire process of transferring the paperwork in the name of the new owner is time-consuming. Hence, organised dealers take care of the transfer of the documents. From registration Certificates to insurance, vehicle purchase invoice, etc. certified dealers eliminate all the hassles on the part of the customers and organise the documents before the purchase of the vehicle.
For making the purchasing experience a seamless affair, the organised players nowadays are even offering easy financing and insurance options, coming up with in-house service centers, etc. to continually ease up the buying process for the customers. Therefore, opting for certified dealers can provide an end-to-end solution for all consumer apprehensions around the industry.