Chennai Car Review

On an average, how many used car transactions take place in the city every month?
Around 1,800 to 2,000 cars a month.

What is the profile of the used car buyer in Chennai?
First-time buyers could be people who want to graduate from two-wheelers to cars. Usually, the middle management level. People with a salary of Rs 20,000 to 25,000 per month, small businessmen, traders etc. Usually people buy used cars to save money or because they want a certain model of car that they would not be able to afford brand new. It could be a second car in the family, car for the working wife and Commercial applications such as transportation (door delivery) or ambulance services.

How does the used car market in Chennai compare with that in other major cities?
The used car market in Chennai is much more organised than in other cities.

What are the used car finance options available to the buyer?
Usually the installment can range from Rs. 2,000 to Rs. 10,000 per month. The maximum tenure is 3 years. Financial Institutions and Banks form the major financiers. Institutions like ICICI, Kotak Mahindra, Sundaram Finance and banks like Citibank and Standard Chartered Grindlays bank etc. But banks and financial institutes do not lend for cars that are more than four years old. These cars usually go to the unorganised sector (private financiers) who go by the buyer and not the car.

What has been the response to Car Melas that have offered Trade-ins and Car finance?
things have slowed down a bit now With so many new cars entering the market, has it changed the used car market in any way?
Yes it has. The used car supply has increased because of so many new cars in the market. People want to go in for the latest models.

How has the Euro II emission norms affected the sale of used cars in Chennai?
Euro II has not affected us much, as the norms are not applicable to used cars, as of now.

What is the general perception among buyers about LPG Gas conversion?
People are willing to take the risk, as it is very economical. It saves about 60 to 65% in cost.How important is the Registration Number when it comes to buyer's choice?
It was important some time back, but not any more. Only the people from moffusils are still particular that all the numbers do not add upto 8. They are superstitious about the number '8'.