Weighing the benefits of used cars

By CARSIFU | 7 April 2022


KUALA LUMPUR: Many Malaysians have been avoiding public transport in fear of contracting infection since the outbreak of Covid-19 pandemic in 2020.

myTukar chief executive officer Derrick Eng said interests had switched to second-hand cars as new cars are too expensive and bicycles inconvenient for long distances.

"Furthermore, with the country entering the endemic phase, the used car industry has been thriving, for a number of reasons," he said in a statement.

He said used cars were also getting more enticing in terms of cost.

"Cars depreciate quickly, which means that after only five years, they can cost as low as half their original price.

"In buying a reliable used car, you would only be paying about 60-80% the cost of a brand new vehicle, and receive a highly reliable vehicle that is covered by factory warranty.

"If maintained properly over the years, their features retain high usability, hence giving drivers a perfectly functional car for much cheaper than what one would have paid for a new car," he said.

He also said the global supply chain interruption on items such as microchips for automobiles caused by the Covid-19 lockdowns had affected the rollout of new cars.

Derrick Eng.
Derrick Eng.


Used cars, he said, are also more environmentally-friendly as a typical passenger vehicle emits 4,600kg of CO2 per year, while the production of a new electric car emits about 14,746kg of CO2.

"We strongly believe that a major way to reduce harmful emissions is by extending the life cycle of old cars.

"In doing so, we not only make used cars sustainable, but we also reduce factory emissions.

"When buying a used car, you are buying it with the emissions already produced," he said.

He also said used cars do not have shipping or hidden costs that buyers might encounter while buying new cars.

"You can still read the fine print and find out what additional fees, if any, are being added to your total car cost even when buying a used car.

"For example, in buying a used car from a platform like myTukar, one need not worry about hidden costs as the platform’s buying car process is quick, transparent and fair.

"When it comes down to warranty, buying a used car is always a gamble, as most used old cars are not covered by the manufacturer’s warranty.

He said myTukar's goal is to make buying used cars more affordable and that the company is offering a five-day money back guarantee and an extended one-year warranty.

He also said the vehicle purchasing journey should be a seamless and easy experience.

myTukar_A


"It is vital that customers understand that they are paying the right price and have reviewed every aspects of the vehicle.

"As we believe this to be an important step in the journey, that is why we strive to ensure every aspect of the car ownership process is taken care of, from obtaining the Road Transport Department's approval right down to choosing the right car insurance and banking option," he said.

He said customers do not need to conduct extensive research to find out if they are paying the right price or if the vehicle is in good quality as myTukar takes care of all those aspects.

"As myTukar’s vehicles have gone through an extensive 360-inspection check, buyers would be able to have an overall and thorough insight into the car’s condition," he said.

He said the best second-hand car models in the world are the Toyota Corolla, Honda Fit and Mercedes Benz E-Class.

"However, in Malaysia, the most popular second-hand cars are the Perodua Myvi, Honda Civic FC and Toyota Vios," he added.

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