Used car market: what to choose and how to guarantee a purchase?

In the context of the difficult economic situation resulting from the Russian invasion and almost two years of full-scale hostilities, the car market in Ukraine is undergoing significant changes. According to analysts, the volume of imports of vehicles of all categories has fallen significantly since 2022. However, the share of imports of used cars, with an average age of ten years, is increasing significantly.

Given the decline in purchasing power, the used car market in Ukraine is gaining new importance and becoming a promising niche among players in the automotive market. On the one hand, there is a decrease in the number of imported and new cars on the market; on the other hand, there is a growing demand for quality used cars. According to a survey conducted by Whatcar.com, a British monthly car magazine and online car sales platform of the same name, in collaboration with insurance company MotorEasy, some used car models have proven highly reliable. For example, Lexus NX (2014-2021) received high marks as the most reliable premium crossover, and Renault Captur (2013-2019) was noted for a rich set of equipment and service availability.

Beginning in 1973 as a magazine for car enthusiasts, in June 2012, Whatcar.com launched an online car buying service called "What Car Approved Used," which provides confidence in the choice of a car in the aftermarket by supporting "10 points differences" promoted by the National Franchise Dealers Association in the US. This quality guarantee confirms that every vehicle advertised on the site will meet minimum standards, including a reputation check to make sure the cars have not been written off, stolen, or involved in an accident.

However, how do we find out that the previous car owners (selected from the study mentioned above) conscientiously followed the technical inspection and did not get into the infamous "adventures"? Or, in the end, how do you know that the other used vehicle you have chosen will not be a cat in a bag? In this context, more and more attention is being paid to companies that can offer reliable and proven cars with additional guarantees. For example, the ambitious GM Group holding is represented in 7 regions of Ukraine. It opened 7 concept car showrooms in 5 regions of Ukraine only in 2010-2020 and was the first in Ukraine to introduce the service of selling used cars with a warranty in its 17 official dealerships.

This service includes not only traditional checks of the car's condition but also detailed diagnostics at official service stations using modern equipment. After that, the cars undergo comprehensive pre-sale preparation, which includes chemical cleaning of the interior, polishing of the body and glass, as well as certification of the condition of the body, interior, rubber, and other critical components of the car. Thanks to this, the GM Group (founded in 1996) has significantly increased the credibility of used cars. Interestingly, the GM Group, which began its activities with a car showroom in Khmelnytskyi, began working as a Volkswagen dealer in 2003, and in the following years already opened official dealerships of such global car brands as Audi, Toyota, Skoda, Volkswagen, Renault, Hyundai, Mitsubishi, Subaru, Peugeot, and JAC. Today, the company occupies 5% of the Ukrainian market of new cars, but it also constantly adapts to the challenges of war and customer requests. Therefore, the GM Group decided to meet the demand of Ukrainians and continued not only to sell new cars but also began to issue "Certificates of inspection" for used cars. Such a guarantee of quality and reliability is valid from 90 days to one year and has become know-how in the car market of Ukraine because the presence of a guarantee on used cars not only provides additional confidence to buyers but also indicates the high quality and reliability of the vehicles being sold.

Let's hope that the used car market in Ukraine is entering a new era, where buying a used car is no longer risky but a deliberate and safe choice.