Jul 28, 2025 11:59 PM
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(Updated Jul 29, 2025 12:03 AM)
Spinny Cares
Spinny is working closely with MouthShut.com to enhance customer satisfaction.
Car original price: 14.5L
5 years old with 50 K driven
They buy a car from seller quoting 7.0L to 8.2L range and buy them at their lower end.They bought this for 7.5
Now they are selling the same car for 9.78L with all their claims.
Car is a asset with fast depreciation in early years which is why people buy used car.
Spinny buy the car with a value of 52% but selling at 67%.
Since it is linear depreciation you should better get a new car. For 15 lac car you are paying 10 lac after 5 year of usage, typically a car has 15 yrs of life. 1 lac depreciation per year, so get a new car which will last 5 extra year.
Now for new cars you get interest around 9% but for used car it is 12%. With higher interest you end up paying more.
If people stop buying then they will be selling at the value which benefits the buyer. It is almost 2.25 lac more with higher loan interest it will be further more.
