The Indian automobile market has evolved in the last decade. Better economic conditions, lower prices, Government relaxation, are some of the factors that have throttled the sales of luxury cars upwards. Indian consumers are now showing greater interest in luxury SUVs in the used luxury car segment because of more features, robust design, and ultra-comfort for the whole family. Let’s understand deeper the dynamics of the used luxury SUV demand in the Indian context.
Why do people prefer to buy a luxury SUV over a sedan?
An SUV, as the name suggests, is essentially a Sports Utility Vehicle. Indian households are now moving a lot towards luxury SUVs because of the high utility compared to a sedan. They are more spacious, have better ground clearance, and are more robust for Indian driving conditions. Reliability is another key factor why people are more attracted to luxury SUVs. Consumers today are ready to spend extra money for the sake of comfort and durability. Luxury car manufacturers have no doubt been very particular about the brand value of their products. Hence their vehicles are built to last.
Another consumer type is more drawn towards luxury SUVs-the Generation Z. The younger generation now demands more for these vehicles mainly because of the off-roading capabilities and comfort. Loaded with features, these vehicles are just right for exploring off-beat locations over the weekend. Young thrill-seekers opt for advanced vehicles to satiate their thirst for adventure.
How luxury SUV market gaining popularity
Luxury SUVs started gaining popularity in the Indian market through innovative social media marketing by manufacturers. They managed to understand the sentiments of the consumers and hit the right chords of their potential customers. Another reason is the trend of compact SUVs in the market. You sold a whopping 28 million SUVs globally in 2019, which says everything about the popularity of these vehicles. Moreover, the Indian luxury car market was valued at $1 billion in 2020 itself, with SUVs accounting for almost half the sales.
All this has been possible due to the advent of the internet and social media. People nowadays are well informed about the specifications, features of the luxury SUV of their choice and follow all the trends in the market.
Is it safer to buy a used luxury SUV than a brand new one?
Luxury SUVs are built to last. Their robust engines, heavy-duty chassis, and safety features are engineered to run for years without needing many services. The only difference that really matters between a used luxury SUV and a brand new one is cost. The other sizeable understandable factor is after-sales service and maintenance. While a used luxury SUV would have lost almost 30% of its value to depreciation in the initial years, the maintenance cost would sometimes go up in the long run. If you can manage to get a well-maintained SUV in the 2-4-year-old bracket, it is definitely a safer option.
The reason is simple. Since a new luxury vehicle loses a significant chunk of its value due to depreciation, the cost of insurance also goes down. You don’t have to pay the import taxes and other premiums, which would be necessary while buying a brand new luxury SUV. Careful inspection and thorough background checks can help you find the deal of a lifetime.
How used luxury SUVs are more beneficial than a new one
There are a number of reasons why used luxury SUVs can be more valuable than a new one:
- The cost of a used luxury SUV is very low as compared to a brand new car
- Since the used SUVs are not older than 4 years, the after-sales service and software updates are easily available
- The cost of insurance is low
- If the vehicle has been well maintained, the cost of service goes down
- Sometimes, few luxury SUVs come with an extended warranty that can be used even after the car being sold as pre-owned
Top luxury SUV brands available to buy in the used luxury car market
Used luxury SUVs from top brands are usually a class apart from ordinary premium SUVs. Car enthusiasts looking for a bargain can buy used luxury SUVs at half the price of new ones easily. Here are top luxury SUVs one can buy in the used luxury car market in India:
- BMW X3
- Audi Q5
- Mercedes ML350
- Range Rover Vogue
- Porsche Cayenne
Important technical aspects to keep in mind while buying a used luxury SUV
There are a lot of technical aspects that have to be considered while buying a used luxury SUV. Top manufacturers like BMW, Mercedes-Benz, Volvo, Audi, etc., are known to manufacture advanced vehicles with cutting-edge technology. There are hundreds of complex components that run these machines and are controlled by advanced software. There are a lot of technical aspects to be kept in mind while buying a used luxury SUV:
- The car insurance claims must be considered to find major or minor damages till date.
- Any modification done by the previous owner must be enquired for
- The odometer readings and instrument cluster must be observed for errors or warnings
- You should scan all the electronics thoroughly for drive errors and software patch updates
- You must monitor engine condition and driveability by taking a test drive
- All the comfort and luxury features must be checked and should be in proper working condition
- The vehicle must be driven in all drive modes and observed for unusual signs or indicators
- You must confirm all the paperwork and legal issues with a third party inspection
Difference between top luxury SUV car brands in terms of power, cost, and reliability
Different luxury car manufacturers employ different principles of design and engineering. When it comes to power and performance, brands like BMW and Audi take the upper hand. Mercedes-Benz is renowned for its luxury and is unbeatable in its class. The BMW X5, for instance, is one of the most loved luxury SUVs in the used car market because of its driveability and robust design. This SUV is essentially a driver’s car. Mercedes ML350 is the epitome of luxury and orthodox design. The SUV is not much off-beat or revolutionary in external appearance, but its comfort features are unmatched.
BMWs are affordable and have better service life than other luxury car brands. The service cost for Mercedes SUVs is slightly on the higher side due to the lesser number of vehicles on the road. Audi packs both performance and power and comfort and affordability when it comes to the used luxury car segment.
How to find best-used luxury car dealers
These days, the entrance of organized used luxury car dealers in the Indian market has made buying and selling more effortless than ever. The dealers make sure to perform all the pre-purchase inspections and even certify the vehicles for fitness before actually selling them to their customers. The dealerships like Big Boy Toyz, Mahindra First Choice Highline, BMW Premium Selection, and Audi Approved Plus are market leaders for dealing in used luxury cars. You can easily find the nearest dealership online and check the customer reviews before going in and enquiring about used luxury vehicles.
Top used luxury car dealers who deal with luxury SUV models
National players into used luxury car dealerships normally use local channels to find the best vehicles for sale. They then conduct rigorous inspections and legal checks before marketing them for sale on their portals. Luxury SUV models are not very rare to find, given their popularity. Care must be given while searching for these vehicles, and purchases should be made only through verified dealers. Here are India’s top 5 used luxury car dealers:
- BMW Premium Selection
- Big Boy Toyz
- Mahindra First Choice Highline
- Audi Approved Plus
- Luxury Ride
A luxury SUV is a dream come true for some, while it’s just another practical automobile for others. Whatever the reason for a purchase of a luxury SUV, the decision is always rewarding. Comfort, dominant presence, luxury, and power-packed performance are few reasons why people are drawn towards these machines. Always make sure to negotiate for the best price and never hesitate to ask questions. These two tips would help you get the best deals both immediately and in the long run.