News Updates

How Online Car Valuation in India is Totally Changed – So Should You!

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“Do you remember Hindustan Motors by Mr. B.M Birla?” Car production in India is as old as 1942 however what much has not changed is the valuation and reselling cars. In Canada, Australia and the European Union there are councils, laws and regulation like ‘minimum odometer reading’, liability for defects, etc. However in India a specific body to regulate the buying and selling of cars are absent neither there had been any laws and regulations to protect the interest of the customers. Most of the laws come under the protective ambits of India Contracts Act or Consumers protection laws. It is quite interesting to note that in these cases even the age-old legal maxims “quid pro quo” which means something in return, “buyers be aware” and “doctrine of good faith in oral contracts” are given significance.

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Thus in the absence of adequate regulation and protection mechanism, very rightly and Indian auto market tried to get self-organised, the market for used car trading was seen to self-regulate itself through numerous contractual obligations. So also have been changes in the pattern in which the buyers have been accessing information for new or old cars in as much as the sellers access information for selling their used and old cars. In India, according to the recent reports, there are 354million internet users and 60% of them access information on their mobile phones. Information Technology and Internet have added feathers to the caps of everyone, trying to change the way we had been doing things; smarter, quicker, more effective and more efficient. This evolution has touched and has added the star dust in the area of Online Car Valuation in Indiamust check. Here we discuss how the buying and selling process in India has transformed, transmuted and organised itself so that both the car buyers and sellers get the best value of their car in India using online platforms. We also discuss here what should be your course of action during the process of selling and how can you adapt to such requirements.

The Consumer now is in Charge:

Gone are the days of billboards, classified ads, contacting and telling people in social gatherings. In the contemporary times, where you and we breathe, the consumer is always in the charging technology is helping the consumers to make choices comfort ability. Internet-based valuation helps them to monitor compare and bid prices where they exercise their information awareness and intelligence.

The Knowledge and Flexibility of 24×7 platforms:

The ‘busydom’ of the modern lives forces most of us to postpone the things that we would probably want to do right away. The buyers of the car want information anywhere and everywhere and at any time they need. In India, there is a simultaneous interest and suspicion regarding online buying and selling of the cars in the minds of internet users. We, Indians are addicted to physical verification of products before we buy anything. The car buyer at first passes through a “phase of interest” where he checks the possibility of buying cars online and with the passage of time tries his hands on other possibilities and alternatives too. In the summary internet and its accessibility across most of the modern devices has made the car buying an ‘any time – anywhere’ type of activity.

That “Like” button matters:

In today’s context, it would be unwise to ignore the power of social media. Statistics reveals that there are approximately 86.7 million users in India using social network sites and 72% of them access these sites on their mobile phones. This generation of users is connected and very easily influence each other. So the graphics of the products, the likes it brings, and the hits on the page all these things count. This principle has no exceptions including the car you are going to sell. Additionally, the buyers also are willing to contact quickly and appreciate interactions before they swipe that card for the payments.

Thus, by observation we can safely conclude, today’s car market hovers around the sound use of information technology. As a seller, you must not ignore it.