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Indian used car market is booming at a rapid pace. The key factors contributing to increased sales of used car are easy availability, lower interest rate, and low cost of purchase. At present the market is dominated by unorganized sector but gradually organized sectors are picking up the growing used car market.

Leading Indian car players like Maruti Suzuki, Honda Seil Cars India, Tata Motors, and General Motors have set up their used car business in the country to tap lucrative opportunities in the segment. Today, as more and more car manufacturers are entering the used car market people are confidently buying used cars. These authorized used car dealers refurbish the car and do the required servicing so that the value of the car can be enhanced. The skilled engineers even do on-spot checking of various car points to satisfy customers.

In addition, the tight financial market has contributed to boost the sales of used cars in the country. There are various advantages of buying used cars over new car purchase.

Here are the top 7 benefits of buying used cars:

1. The key benefit of buying a used car is low cost of purchase.

2. New cars lose 20% of its value in the first year of its ownership and 10% in the subsequent three years. After that the car loses it value at a rate of 5% every year. So, if you buy a used car then the depreciation value will be much lower than that of a new car. This is mainly because the used car that you plan to purchase has lost most of its value during its first ownership period.

3. If the price of the used car is low then obviously the insurance premium is lower as compared to the new car insurance.

4. In the used car market, you can get a wider option for selecting your car. If you have kept aside an amount of Rs 3 Lakh for buying a car, you can either buy a new Alto or a new Spark. The same amount can also be used to buy a used Swift Dzire or even a 10 year old Mercedes-Benz car.

5. While buying a used car you don’t have to pay an additional cost for latest car accessories. Most of the car owners load their car with a host of new features and technologies.

6. The overall ownership cost of used car is comparatively lower than the new car ownership cost. The total cost of ownership includes the price of the car, insurance, maintenance cost and the depreciation value.

7. When you decide to buy a used car the performance of the car is transparent as you verify the working of the car as well as the problems faced by the car by simply checking the service history of the car. This will help you make a wise decision with regards to used car purchase.

The “Big Three”, Chrysler, General Motors and Ford Motor Company, have been on capital hill begging for some of the bailout money that was set aside about three months ago now. How ironic is it that everyone is so eager or willing to bail out banks that have horrible business models, have made terrible mistakes, refuse to make wholesale changes, and yet people seem so reluctant to help the manufacturing backbone of this country and perhaps the world? Oh but I digress… So regardless of how we got here, or what is being done to fix things, this is actually a phenomenal time for an individual that may be in the market to purchase a new or pre-owned vehicle.

Obviously, manufacturers, both domestic and foreign, have large surpluses that they are trying to reduce. So rebates and incentives are quite large right now. Additionally but unfortunately, because of the economy, more and more individuals are forced to have their car repossessed. This creates a surplus of vehicles at wholesale auctions. This is where you get to take advantage of surpluses that drive prices down and give you a tremendous value on that next vehicle you are looking for.

Increasingly, sites similar to Seize Cars.com are becoming popular places for car shoppers who are doing more and more of their car shopping online. Sites like these are giving you a fabulous opportunity to purchase a previously owned vehicle at a tremendous price. But buyers beware, not all sites are created equal. Obviously there are bound to be more and more of these types of sites popping up everywhere, so do your homework. Reputable sites like Seize Cars.com are definitely changing the ways people buy cars. If not permanently, that at least in the near term.

Buying a new car is not only an exciting moment but is also a rare occasion. It is not an everyday purchase. You would definitely like to hold on to the car for at least a few years, if not for decades. Hence, lot of care and thought should go into the purchase of new cars. Here is a rough checklist for purchase of new cars, which might come in handy whenever you think of new cars.

? Evaluate the purpose of the car that you plan to buy. Think over carefully whether you want a sedan or a van or an SUV. Decide whether you would require a 4-door model or a 6-door type. If your car is only for general transportation, then you might not need a luxury model like Mercedes Benz. If the car is for the entire family, then a multi utility vehicle (MUV) or a sports utility vehicle (SUV) might be ideal.

? Once you had decided on the type of the car that you need, give a deep thought to the price of the car. The car should suit your budget and income levels. If you are planning for a refinance for the car, the repayments should be affordable for you. The ideal price of a car is considered as 50% of the annual income of a person, according to experts in the auto finance industry. For example, if your annual income is $60,000, then the value of the new car purchased by you should not exceed $30,000.

? When the type of the car and your budget are clear, hunt carefully for all the cars of different brands that suit these criteria. If you are thinking of a Cadillac CTS, it would be prudent to take a look at similar cars like Nissan G35, Lexus IS, Acura TL and BMW3 also. Study the features of each of these models and go for a test drive of all of them before making a final decision.

? Negotiate for the car finance, if you are opting for a car loan. Bargain with several lenders to get the lowest rates and better repayment options. Discuss with several authorized car dealers, who would be able to advise you properly on the model and type you should purchase and also help you with the lenders in car loan.

? Consider the points like the mileage of the car, the possible future maintenance costs, the insurance costs, and warranties for the car and the parts. The same oil change might cost you $25 for a Toyota, while it might be $100 for a Mercedes Bens. These factors would affect you significantly in the long run, if you do not take them into account in the beginning itself.

These are only a few checklists provided for guidance in the purchase of new cars. If you apply your mind, you might be able to think of a few more relevant points that are applicable to you personally. Thinking deeply before the purchase of new cars is always beneficial in the long run.

Used cars are considered the best deal in town. In this time of recession, more and more people in London, Ontario appreciate what used car dealers in Kitchener, Ontario offer.

Buying a new car is not ideal at this time when prices of commodities continue to soar. Many are buried in debt almost neck-deep so there is no way they can afford a new car. Good thing there is a car and auto financing in Ontario so that people can purchase their dream car at drop down prices.

Leased cars are the perfect choice for a transportation service to use in roaming the suburbs of Ontario or Canada as a whole. Before settling for a car though, make sure you know the car dealer by heart. Instead of saving money, you might end up shelling out more than you’re capable of.

There are ways to acquire the best car deal. Read the whole article for you to avoid misfortunes when buying or leasing used cars.

First, know the real value of the car you desire. Look for cars that are similar to what you want. Consider all the factors that comprise the car like its condition, approximate mileage, parts, and region where its value takes effect.

Ask the necessary questions. Before you visit the showroom to see firsthand the car you like, call the sales agent first. Whether he’s a professional car dealer or a private individual, just be sure he shows you the car and fills you in with the essential information.

Ask the following questions:

• How many miles are indicated on the odometer?

• What are the other features and options?

• Are the body, paint, trim, tires, and upholstery in their best shape?

• Did it suffer from a collision before?

• Was it owned and driven by someone who smokes?

• Do they still have the car’s service records?

• Who is the first owner of the car and what was his primary use of the car?

By asking these questions, you will know if the car dealer is honest or a deceitful person. Evasiveness is a direct proof of fraudulence but if he answers your questions directly, you are rest assured this is the right choice.

Don’t negotiate when you’re in a hurry. Most car dealers love to transact business with people who seem in a rush hoping they can instantly close the deal. Foolish consumers would not bother to ask questions and would readily pay for the car even if the agent has doubled the price.

Negotiate with the car dealer and haggle over the price. By doing so, you exude professionalism and intelligence. No car dealer will attempt to make a fool out of you. Be firm on your decision and offer less even if the seller says the price is non-negotiable. Make use of local classified ads or a price guide data which is a reliable reference for similar cars to illustrate the fairness of your offer.

Start with a low bid then gradually move up your figures. Don’t be shy; mention evident flaws or equipment problems to justify the amount you’re offering.

Clearly and firmly state your final offer, say nothing more, and see what happens. If the seller won’t agree, then walk away. Always remember, you shouldn’t pay more than what the car is worth. As you head for the door, it would take less than a minute for the seller to go after you and grant you the sweetest deal.

For additional information, click this site on used car London Ontario.