There’s something quite interesting happening in India’s Silicon Valley and it concerns the uptake in used luxury cars in Bangalore. You’ll find an increasing number of BMW, Audi and Mercedes-Benz models lining the streets and driveways from Koramangala to Whitefield. As you may have guessed already, these aren’t fresh off the showroom floor either.
There are a few contributing reasons to the rise in sales of second hand luxury cars in Bangalore, not least of which pertain to rising prices of new luxury cars, better customer knowledge and ironically the digital revolution. Here’s a deep dive into why the sale of used luxury cars is rising.
How the Tech Boom is Driving Sales of Used Luxury Cars in Bangalore
Over the years, Bangalore’s transformation into India’s tech capital has created a unique demographic. One that’s filled with tech professionals who have deep pockets, the desire for owning premium vehicles and the know-how to shop second hand luxury cars. Anyone who’s even vaguely interested in cars knows that buying a luxury car isn’t just about the purchase. It’s also about the cost of service and maintenance to enjoy trouble-free driving over the years.
This is where the younger demographic differs from the older generation, who were more apprehensive about purchasing second hand luxury cars in Bangalore. These luxury car shoppers do their research and understand warranty transfers and how to use it to their advantage. This puts them in a good position to own pre owned luxury cars without getting their hands burned.
Why Used Luxury Cars in Bangalore Make Sense
The appeal of used luxury cars isn’t just about saving money, though you’ll find no one complaining about that part. For a lot of people, it’s a way to fight rising car prices without compromising on solid build, quality and luxury. At the same time, it’s about buying into a brand’s history and image while upping their own, all while spending significantly less than new. For Bangalore’s newly-minted rich crowd, this is aspirational value at its best.
Value for Money
Consider that a new BMW 3 Series costs almost ₹80 lakh on road in Bangalore, a price range that used to be able to get you a BMW 5 Series a few years back. Looking for a used luxury car, you will be able to find used BMW cars in Bangalore in well-maintained condition, such as a 5-year-old BMW 3 Series for about half that price. This represents great value as the driving experience is essentially the same, without the massive initial hit of depreciation.
Infrastructure Improvements
Infrastructure improvements in Bangalore, across various parts of the city in the form of flyovers and ring roads, mean that these cars can actually be enjoyed. Improved connectivity across the city means that more owners of second hand luxury cars in Bangalore are choosing to drive in their own slice of luxury.
Acceptance
The stigma that existed around second hand cars has given way to acceptance, especially of used luxury cars in Bangalore. People have a more mature understanding of value and depreciation now. Social media has played a part too, showing people the other side of used luxury car ownership and that it’s not what it used to be, thanks to accessible reviews and recommendations.
Digital Revolution
Online platforms, such as company-owned websites and CARS24, have transformed how buyers shop for used luxury cars. With a full inventory of cars to browse, buyers can compare prices and even get their cars professionally inspected to avoid unexpected expenses.
Digital financing options have also democratised access to second hand luxury cars in Bangalore. Instant loan approvals and competitive interest rates are helping buyers realise they can afford EMI payments on their dream luxury car, instead of it appearing out of reach.
Extended Warranties
Used luxury cars from a few years ago aren’t a nightmare to maintain versus ones that are over a decade old. Modern engineering that can better deal with India’s road and climate conditions make for more robust vehicles. Further, extended warranties allow for peace of mind, for up to 10 years in some cases. This significantly reduces the chance of unexpected heavy repair bills, making for a more predictable ownership experience.
Certified Used Luxury Cars
Company-certified used luxury cars in Bangalore go a long way towards boosting buyer confidence. Mercedes-Benz Certified, Audi Approved Plus and BMW Certified Pre-Owned, to name a few, provide warranties and quality assurances that can match new car purchases.
Conclusion
The combination of financial strength, lifestyle aspirations and pragmatism of the city’s professional class has resulted in the uptick of the used luxury cars market. This momentum for pre owned luxury cars is here to stay as well, in the same way there are no signs of new car pricing equalising any time soon. As more people recognise the value and accessibility of second hand luxury cars in Bangalore, the market is set to grow even further.
