You might already be sceptical about buying a used car. On top of that, if the model is no longer available in the market, it is natural to have doubts. But what if the discontinued cars are one of your favourite models? In any case, buying a discontinued used car is not always a bad deal.
This post talks about a few pointers that you should consider while buying a used car that is discontinued. We hope that it clarifies whether you should purchase a discounted used car model or not.
In some situations, it might not be only a discontinued model you are dealing with but the whole brand shutting down. So if you know that the brand is going away for good, it is better not to buy used cars of such brands.
But, if the brand is still churning lakhs of units, you have nothing to worry about. Moreover, finding parts from brands still running the market won’t be challenging.
Should Offer Good Resale Value
One of the first things to consider is the resale value. If you are sure that you can secure a good deal while reselling the model, you’re good to go. But at times, the resale value of the discontinued car can drop low. It is the case if you pick an old or unpopular model.
Besides, some car models become antique when the manufacturers decide to stop producing them. If you are lucky enough, you might even score a deal for your exquisite model from car collectors. In a nutshell, as long as you are sure of the resale value, you can proceed with the purchase.
Overall Condition of the Car
If the overall condition of the used vehicle looks proper, there is no harm with purchasing it. If the parts, accessories, and other car components are up-to-date and in working condition, it is unlikely that you’ll have any problems.
But, you should refrain from purchasing a discontinued used car if it looks like it needs a lot of work. The broken car parts might be tricky to replace with no longer available models. Moreover, if the model has been out of the market for ages, you might have difficulty repairing and running it.
These were some of the pointers you need to consider if you buy a discontinued second-hand car.
Pros of Buying a Used Discontinued Car Model
- Some discontinued car models have a higher resale value
- It is available at a much cheaper price
- You might find financing at low-interest rates
Cons of Buying a Used Discontinued Car Model
- The resale value of some might fall drastically
- Parts are difficult to find
- Might no longer be safe to operate
We recommend weighing the pros and cons of buying a discontinued used car and proceeding cautiously.