"Pre-owned cars are the absolute sweet spot of the car market. While most luxury cars are imported and levied with hefty import duties on purchase, it’s the second buyer that foots these costs, which explains the massive depreciation on the price tag over the years. This makes pre-owned cars hotly pursued," says Ishaan Bharadwaj, car expert and Editor of The Race Monkey.

According to a survey on the Indian pre-owned car market commissioned by Volkswagen India to Frost & Sullivan, by the financial year 2025, organised platforms will contribute 45 percent to the total Indian pre-owned car market. It also indicates a shift towards organised players offering better financing options to differentiate themselves from unorganised players and strong demand for used cars in Tier 2, Tier 3, and rural markets.

Here’s what you need to keep in mind before considering buying used luxury cars or SUVs for sale.

"Make sure all the car’s paperwork including registration, insurance, tax receipts, and service records are in place. Periodic maintenance is extremely important, irrespective of the odometer’s count. Ensure all services and parts replacements are done as recommended by the manufacturer. Finally, the condition of the tires and the wheel alignment."

He added, "Doing a thorough check of all tech on board is essential too, just to ensure there’s no error displayed on the instrument panel. Electronic fixings can be costly". And finally, underbody corrosion and paint quality. "Any difference in the shade means that the car’s been repaired and the panel has been refurbished."

"It is very important to know from who and where you are buying your pre-owned car," says Ashish Merchant, partner at Brokerdalal Premium, one of Mumbai’s top used luxury car dealers. "A good dealer filters the clients and this will reflect on the car being sold. We prefer to buy cars from end-users such as top corporate leaders in the city. The advantage of this is that the cars are usually well-maintained," Merchant highlights while pointing out that non-flooded, non-tampered, non-accidental cars are essential.

Related: The best pre-owned SUVs are available at your local SA used SUV dealer.

"Growth in the Indian used car market is driven by rural and Tier 2 and 3 cities in India, especially with the entry of manufacturer-supported channels. In combination with attractive financing options, this market will grow exponentially in the next 4-5 years," concludes Kaushik Madhavan, Vice President, Mobility (Automotive & Transportation) Practice, Frost & Sullivan.

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