This week, we’ve witnessed some fascinating instances where three used cars fetched impressive prices. How and why did they manage to get such good prices?
Maruti Suzuki Swift VXi AMT 2019
- Age: 4 years
- Selling Price: Rs 6.85 lakh, Rs 1.65 lakh less than a new Swift variant
- Mileage: 28,000 km
- Key Features: Excellent condition, impeccable service record, 7 months of active insurance
- Seller Strategy: Started with a quote of Rs 7.05 lakh emphasizing the car’s condition, service record, and insurance savings.
Maruti Suzuki Wagon R VXi 2017
- Age: 6 years
- Selling Price: Rs 4.5 lakh, only Rs 2 lakh less than a new Wagon R
- Mileage: 19,000 km
- Key Features: Single-owner status, low mileage, perfect service record
- Seller Strategy: Started with a quote of Rs 4.6 lakh and justified the price with low usage and perfect service record.
Mahindra Thar AX Opt 4-Str Convert Top Diesel 2021
- Age: 2 years
- Selling Price: Rs 13.5 lakh, Rs 2.5 lakh less than the on-road price of a new model
- Mileage: 32,000 km
- Key Features: Well-maintained, tasteful modifications
- Seller Strategy: Started with a quote of Rs 14.5 lakh, exploiting the high demand for Thar, and emphasized the value added by the modifications.
Lessons of the week
The Maruti Suzuki Swift VXi AMT, Wagon R, and the Mahindra Thar cases above each highlight different factors that can significantly influence the value and appeal of used cars. Here are the key takeaways:
- Starting price and vehicle highlights matter: The Swift seller successfully employed a strategic starting price slightly higher than the intended sale price, highlighting the vehicle’s newness, comprehensive service records, and the potential insurance savings for the buyer. This careful positioning attracted the right buyer willing to pay a premium for these added benefits.
- Low usage and single ownership can add value: The Wagon R, despite its age, achieved a high sale price due to the low mileage and single owner’s status. The seller used the vehicle’s minimal use as a unique selling proposition, proving that the number of kilometers a car has covered can significantly influence its perceived value.
- Scarcity and customization can drive up the price: The Thar seller played to the market conditions, knowing that demand for the model far outstripped supply. The seller quoted a higher-than-desired starting price and emphasized the vehicle’s modifications as unique selling points, a strategy that appealed to enthusiast buyers and achieved an excellent sale price.
