hen Arvind Srivastava, an executive with ICICI Lombard, wanted to buy a car, he faced a dilemma. Fresh out of B-school and in his first job, he was already worried about his education and home loan EMIs (equated monthly instalments). Srivastava realised that it was impossible for him to go for a brand new C segment vehicle. But the salesman in him refused to give up and after researching a bit, he realised that his dream Maruti Esteem LX model could be bought from a Maruti True Value outlet at half the price of a new one.

While a new Esteem LX could have set him back by Rs 4.52 lakh, Srivastava got his car for a mere Rs 2.21 lakh. Though the car was a 2001 make, he was reassured by the company�s warranty and the free insurance thrown in by the dealer. Does the story sound familiar? Well, a lot of people are doing it these days. From entry-level employees, mid-level managers to freelance journalists, the organised used car market has got something for everyone.... more