Four years back I bought two new cars. One is a 1300 cc vehicle for my own use (but for many months now, I've hardly used it). The other was a much smaller car (800 cc) that I bought (to be used by the driver). Over the past four years, the rupee has declined by about fifty percent, and prices of cars have gone up substantially. Before selling my small car, I bought a used 2012 (1300 cc) Corolla which would ordinarily have been worth about Rs. 1.2 million. But I had to pay Rs. 1.8 million due to the devaluation of the rupee. But what I don't understand is why the price of my smaller car (Mehran) fetched me only Rs. 50,000 more than what I paid for it four years ago.
Furthermore, it was an ordeal finding a buyer for it. I tried for more than a month, and although the Mehran is a very popular model, I didn't get good offers for it. The highest I got was Rs. 775,000. Most of those who responded to the ad were probably brokers. My driver also found someone who wanted to buy it, but that man offered even less. I know, of course, if I had gone into the market to buy a similar Mehran, the asking price would've been Rs. 50,000 more.
Ultimately, I was able to sell it for Rs. 807,500 to a genuine buyer who is a young business graduate (and this is his first car). I hope he'll able to keep it in good working order. I told him to do the maintenance regularly at the manufacturers' outlets (and not at a service station), even though it means spending a lot of money.
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