Too risky to buy used? First-time car owners share why they said ‘No': Report
First-time car owners share why they said 'No': Report
India's used car market may be losing traction, at least among first-time buyers, as per a new nationwide study by Park+ Research Labs. The report has revealed that a substantial 77% of
first-time car buyers
in India chose to purchase new vehicles over used ones in the past year, pointing to deep-seated trust issues within the pre-owned car ecosystem.
Among those surveyed, 81% believe used car prices are unjustifiably high—often rivalling or exceeding the cost of brand-new models. This sentiment is especially strong in the under Rs10 lakh bracket, where nearly 90% of second-hand car transactions occur, according to a Deloitte report. For many buyers, new cars now offer better value thanks to easier financing options and more reliable after-sales support.
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For those who did consider a used car, the experience often didn't end well. Sixty-five percent said they backed out due to peer warnings, negative online reviews, or firsthand disappointments. Legal complications were cited by 43% of these respondents, while 22% pointed to RC transfer delays, and 11% blamed poor digital reviews.
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Interestingly, traditional local car dealers seem to be winning the trust battle. Around 73% of first-time buyers said they felt more confident dealing with local sellers compared to large organised players. The reasons were simple but powerful: face-to-face negotiations, a sense of human connection, and transparent dealings.
Legal grey areas remain a barrier
Documentation disputes, incomplete ownership transfers, and fraudulent listings continue to haunt the used car space. Buyers are calling for better regulation, more transparent processes, and a system that can guarantee smoother and safer transactions.
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