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Luxury car market in India has witnessed a drastic fall in sales in the first two months of this fiscal year. On the other hand the sales of pre-owned car market in luxury and a super luxury car in India has gone up. However, these gorgeous cars are on sale at some very low prices. Car owners are putting them up for sale sooner than ever before and at much lower prices which would surprise new car buyers.
These exotic cars would not have travelled more than 15,000 kms, before they are put up for re-sale. Particularly, as the car owners would never dare take them out on congested Indian roads, where all things movable jostle for space. Many of these cars have exotic lineages traced back to big names from Britian, Germany, Italy, America and Japan. The used car market dealing in luxury cars is seeing an increased number of Rolls Royce, Bentleys, Ferraris, Porsche and BMW on the block available at some mind blowing low prices. At some of Indian biggest metros like Delhi and Mumbai it is not difficult to find almost new luxury cars at half the price at which they were bought.
- The owners of these cars include well known names like the Singhanias, Modis and Mittals and film celebrities. They are ready to replace these cars at will. As such collectors have been able to get ownerships of 2006 Bentley Continental Flying Spur which had done only 10,000 kms for a price of Rs 1.2 Crore, three years old Porsche Carrera which has done 15,000 kms at a price of Rs 65 lakh, a one year old Ferrari F430 can be bought at a price of Rs 2 crore, a 2009 BMW 7-series which has done 3,000 kms available for a mere Rs 60 lakh,.
The business on these high end cars usually depends on contacts. Car owners seek out trusted brokers to help find contacts who can buy their products. These brokers charge commissions ranging from 0.5 percent to 2 percent on every deal. Commission is scaled down depending in the relationship of the buyer with their clients. It has been noted that on an average at least 10 exotic pre-owned cars are sold in Delhi every month. Car owners sell them to upgrade to new cars.
Mercedes-Benz cars are high on the list of pre-owned car buyers. Many of those sold in an around Delhi would have been in possession of these cars for less than two years, say brokers. Cars that are available at Rs 30 lakh and more would be available at a much lower price a year later. Car buyers lookout for good discounts on their buys.
Apart from Mercedes-Benz, Porsche, and BMW are also available at throwaway prices. Pre-owned car dealers even offer the financing options on these vehicles.
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