INCOME TAX27 Sept 2026
Buying a car for ₹10-15 lakh? Here’s what buyers should check before choosing a new lower-end or used higher-end model | Mint
If you have ₹10-15 lakh for a car, you now face a real choice. You can buy a new lower-end model, or a pre-owned higher-end car with more features. A used car often means higher loan rates, shorter warranty and more maintenance. So compare total ownership cost, not just the sticker price. Check the car's age, service history and resale value carefully before you decide.
Key Statutory Highlights
- A ₹10-15 lakh budget can buy a new lower-end car or a pre-owned higher-end model with more features and space.
- Mass-market cars usually lose about 15% to 20% of value in the first year and 28% to 38% cumulatively by the second or third year.
- A pre-owned car can bring higher financing costs, a shorter warranty and greater maintenance needs, so total ownership cost matters more than purchase price.
Actionable Advice for Taxpayers / Founders:Before deciding, get a professional inspection of the used car's accident history, service records and remaining warranty, and compare its expected total ownership cost with that of a new car.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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