The luxury car market in India has seen an unprecedented fall in sales during the April-May months, the first two months of this fiscal year. But there is another side of the coin too, where the number of pre-owned luxury cars has increased but are available at a much lower price. The high-end gorgeous cars which are the price of owners are being increasingly put up at re-sales outlets. These cars would not have clocked 10,000 kms, before they are put up for sales. Especially as car owners want to keep them away from congested roads where every vehicle, animal, and human jostle for space on roads. Many of these exotic cars from America, Britian or Germany and even Japan adorn the lifestyles of the rich and the famous. But these people also have a way of expressing their style statement with latest cars. But once these cars run out of their excitement, they are put on for re-sale. Some of these cars include the Rolls Royce, Bentleys, Ferraris, Porsche and BMW all being sold at a much lower price. Keen observers are able to spot a brand new car at almost half the price. Some of the proud owners of these cars including the whos-who of Indian Inc, politicians and celebrities, who like to replace their luxury cars at will. Particularly, the collectors in Delhi have reported that they have come into possession of some rare cars like the 2006 Bentley Flying Spur which had done only 10,000 kms for a price of Rs 1.2 Crore, a 2009 BMW 7-series which had registered 3,000 kms was available for a mere Rs 60 lakh, and a three year old Porsche Carrera which has done 15,000 kms at a price of Rs 65 lakh. Contacts are important to be in business of high end cars. Luxury Car Owners ask their trusted brokers to help find contacts who are interested in buying the car. For this the brokers usually charge a commission of 2 percent on every deal that culminates in sale of the car. The buyer and the seller are expected to contribute an equal amount to the broker. But some broker are willing to forgo a small percentage of commission charges if the feel that their relationship with the client is more important. On an average at least 10 such pre-owned cars are bought in Delhi every month. Most of these cars belong to people who want to upgrade to new cars. Car buyers in all segment of the pre-owned cars look for discount. The same applies in used car market for high end cars. The highest demand in these markets is for Mercedes-Benz cars. As the re-sale value is good, car owners who have had the car for two to three years, sell it off at a whiff. Brokers in and around Delhi have noted that of the thousands of luxury cars from Mercedes, BMW and Audi may land up in their stables within a couple of years. As such a new car that is available at Rs 30 lakh and above could be sold at a much lower price in the resale market. The pre-owned car dealers offer financing options for the purchase of the car.
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