Hyderabad: The process of selling your old car is not always as straightforward as buying a new one. Car purchasing trends indicate that factors other than affordability influence them, particularly sentimental attachment to old cars, a phenomenon observed among people of various socioeconomic backgrounds.
Most often, affluent people buy and sell high-speed, high-end cars. The middle class, however, usually keeps their cars for many years even if they can afford a new one. Some people feel too attached to their cars that they are reluctant to sell them even if they are in poor condition, need constant maintenance, or require frequent repairs.
As with many members of the middle class, S. Paresh has owned the same car for over a decade. Though he can afford to buy a new, much better car with more modern features, he will need to sell the one he has now as he does not have parking for two cars, and does not want to manage two cars. Further, since it was the first car Paresh and his family bought, they feel attached to it. The family of real estate developer Nabhan Mahmood owns seven cars. It is both a necessity and a desire. However, one of the vehicles, a 15-year-old Land Cruiser Prado, is still in use and has not been sold due to the sentimental attachment Nabhan's family has to it.
"It was one of the first Land Cruiser models to be released at that time. We have kept this one although newer models are available. It has had several paint jobs and many parts replaced, is no longer in production, and has travelled over 1.1 lakh kilometres. We will, however, keep it,” he said.
According to consultant psychiatrist Dr Virinchi Sharma, it is often about practicality, with the middle class preferring to spend their money on something else rather than a new car, depending on the situation. Another factor that influences buyers' decisions is the emotional attachment they may have to certain possessions, such as cars.
"When you own something for a longer period of time, you accumulate more memories with it. People, for example, may want to keep antiques such as their grandfather's watch because it reminds them of their grandfather. Second, when we invest in something for the first time, we may feel it is an extension of our lives and thus want to keep it, such as the first mobile phone," he said.
