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This is the reason billionaire Ashneer Grover buys used cars. The real reason is here

Shark Tank 1’s Ashneer Grover has revealed a unique piece of information about himself that sets him apart from many billionaires. The Indian businessman revealed that he often buys used cars instead of brand new cars, which is completely contrary to the way of other industrialists and businessmen. Grover explained why he did it.

Car table HT

Update on:
February 06, 2023, 09:42 AM

Ashneer Grover owns several expensive supercars in his garage.  (Photo: ashneer.glover/Instagram)
Ashneer Grover owns several expensive supercars in his garage. (Photo: ashneer.glover/Instagram)

This businessman said that he bought a used car because the old car was scratched on the road and it did not hurt much compared to the new car. This is the main reason why he doesn’t usually buy a new car, says Grover. He also added that he would be in a bad mood for almost a week if his new car was scratched.

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In an Instagram interaction, Grover also said that he’s noticed many other great founders buying sports cars after getting funding for their businesses. He even narrated the story of Zomato founder Deepinder Goyal and how he bought a Range Rover after securing funding for his company. Grover added that he also loves sports cars and wants to buy them whenever he gets the chance. The car-loving businessman owns a number of expensive supercars such as Mercedes-Maybach S650, Mercedes-Benz GLS 350, Porsche Cayman S and Audi A6.

In India, where the roads are congested and the number of vehicles is a lot, although the roads are narrower, the chances of cars getting scratched are very high. A scratch on a brand new car not only frustrates the owner but also affects the value of the car. Also, a car is generally a depreciating asset, no matter how expensive it is. The value of a brand new car declines as soon as it leaves the showroom and continues throughout its life. On the other hand, the value of a used car decreases more slowly than a new car, it has been on the road and often comes with some minor flaws like scratches and dents. Therefore, adding another template to that list doesn’t make much of an impact, as is the case with a new pattern.

Date of first publication: February 6, 2023, 09:42 AM IST


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