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Buying your next car can get hassle free with online platforms

Jul 09, 2018

Buying a used car is often fraught with problems – from a customer’s perspective. You always seem to have insufficient knowledge, no matter how much research you do. Unless you’re a petrolhead, you’ll probably have to rely on the experience of someone you trust with regard to the price and the mechanical integrity of the car you have set your heart on.

How does online car buying work?

“Google it!” is the popular refrain whenever one asks questions of others in a bid to learn something new. Okay, so you’ve gone online and looked at innumerable specialist car sites, compared various models for price and features, and drooled over the pictures. However, you haven’t actually got the chance to ‘kick the tyres’ of your shortlisted models yet.

While there are many who walk through the doors of a dealership to buy a new car, and perhaps to part-exchange their existing vehicle simultaneously, there are several stages between seeing and buying. This is where tradition still rules the roost, with car manufacturers and dealers happy to continue with the status quo.

In the new digital economy, the ‘doorway’ is from your laptop to the dealer’s virtual salesroom. Your number, email, or text the dealership to verify if the car is in stock, schedule a test drive, and get the ‘e-price’ instantaneously. And if you have a car to sell or use as part-exchange, you can submit it for valuation from the comfort of your home.

After test-driving the shortlisted cars, you can complete the rest of the deal (including financing and insurance) online. In some cases, the dealer will even deliver the car to your home or office. This is where online car buying services – such as the one from Tata Capital – come handy.

The benefits of buying online

Anyone who has bought a car via the traditional method has dealt with decisive sales tactics, the faux drama of the salesperson’s let-me-talk-to-my-manager game when it comes to discounts and ‘free’ accessories. Not forgetting the delays that seem to miraculously crop up after you’re assured of a delivery date.

Well, you can heave a huge sigh of relief, in the knowledge that haggling over prices and options, or reviewing the fine print in the purchase agreement, can be done at your leisure. And it’s all just a click away.

The Tata Capital advantage

Tata Capital understands that a car is your second-biggest purchase – after your home – and its online platform is built to steer you in a direction of your choosing.

Every car platform will allow you to search for cars and even make comparisons. However, Tata Capital takes you one step forward. Our multi-search engine provides you with a range of collections to choose from. You can choose from the widest collection of hatchbacks, SUVs, MUVs, and luxury sedans. In addition, you can refine your search based on the following:

  • Budget
  • EMI
  • Make/model
  • Body type

Multiple search options, powered with an intelligent car loan calculator, help you zoom in on the perfect car in no time. The finance process is made as simple as possible, with flexi-EMI options such as Step-up, Step-down, Bullet, and Balloon payments across the entire range of cars (including premium ones), SUVs, MUVs, and crossover vehicles. And if you want a buy a pre-owned car, there are over 20,000 to choose from.

A car loan from Tata Capital offers trust and transparency, financing of up to 100% on select models, instant online loan approval, simple documentation, attractive interest rates, quick turnaround time, and tenures up to 84 months, on select models.

As easy as ABC (Accelerator, Brake, Clutch)

While it’s difficult to quantify the benefits of car shopping online vis-à-vis going to a car dealership in person, you can be sure that you won’t run the risk of making costly impulsive decisions on financing and options. And if face-to-face negotiating isn’t your cup of tea, what better way than to approach things from the comfort of your home, without falling prey to a salesperson’s spiel?

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Emerging trends in the second-hand car market

May 24, 2018

With prices of most commodities undergoing a hike since the demonetisation in 2016, the cost of living has risen noticeably. However, this hasn’t stopped people from pursuing the need for comfort and convenience while travelling. The availability of used cars has made it possible for even the lower middle class to own a vehicle at an affordable price. Such ‘pre-owned’ cars are also popular among those who wish to upgrade to a bigger or more feature-rich model but have a limited budget.

India’s second-hand car market has seen a substantial growth from 1.6 million units worth Rs 38,500 crore in 2011 to 3.3 million units worth Rs 96,000 crore in 2016. According to some big names in the industry such as Mahindra First Choice Wheels, the used car market in the country is estimated to grow by 15% and touch the Rs. 2,50,000 crore mark with 6.6 million units by 2021.

What’s responsible for this rapid growth of the Indian second-hand car market? Let us take a look at the main factors:

  • Shorter ownership cycles - About seven years back, the ownership cycle for a car used to be 6-7 years. Around two years ago this dropped to 4 years, and is likely to reduce further to 3.5 years by 2021. This adds to the number of units in the market, leading to a successful growth.
  • Quality assurance - Even when investing in things as trivial as clothes, people do their research before they buy. Likewise, while investing in a car – even if it is pre-owned – the customer is spending a good sum of money and expects superior quality and performance. Automobile quality in India has improved, making it possible for buyers to trust even high-mileage cars.
  • Increased reliability - With the emergence of organised players in the industry, user confidence and reliability has increased, engaging more consumers.
  • Greater acceptance - In recent years, the attitude of people towards buying pre-owned cars has changed and it is no longer looked upon negatively.

Progress in the industry

The used car industry has evolved with time and is getting organised; it’s no longer limited to small players. According to a study published in December 2017, the Indian used car market is estimated to cross $66 billion by 2022, thanks to increasing urbanisation and population growth.

With automobile makers focusing on setting up used car networks across the country to facilitate easy buying and selling of pre-owned cars, it increases the inclination of consumers to buy second-hand cars at affordable prices. It also assures they are in good condition. Moreover, the increasing popularity of online platforms such as OLX and Quikr has only helped the market to grow.

Earlier, most companies would deal in used cars of only their respective brands because it helped promote their new models, but now the business has evolved and is no longer restricted to just one brand. Some key players in the pre-owned car market in India are Mahindra First Choice Wheels, Hyundai H Promise, Maruti True Value, Volkswagen Das Welt Auto, Toyota U Trust, Ford Assured, Honda Auto Terrace, Mercedes-Benz Certified, Audi Approved Plus, BMW Premium Selection, etc.

The most popular choices

As of March 2017, India’s bestselling second-hand cars were Suzuki Swift, Maruti Alto, Hyundai Santro, Hyundai i10 and i20, Maruti Wagon R, Honda City, Maruti Dzire, Maruti Zen and Estilo, Chevrolet Beat and Spark, and Tata Indica. From this it is evident that people who buy second-hand cars are doing so because they are more convenient and affordable. It isn’t that common for people to buy pre-owned luxury cars like BMW, Audi, or Mercedes, probably because those who can afford them belong to the richer section of society and would rather buy a brand-new showroom model.

The second-hand car market in India is growing steadily and has become a burgeoning industry because it allows the average Indian to purchase cars of superior quality and in good condition without having to spend a bomb. It is budget-friendly and makes cars more affordable, thus fulfilling a cherished dream of middle-class Indians who form a large segment of society.

Keep this in mind, the use of Tata Capitals online store comes in handy. You can use it with ease and book your brand new car that suits your budget.

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Quick hack for saving money while purchasing your new used car

Apr 23, 2018

Simplified the process of owning used car through our very own online car store platform. Have a look at this info graphic and reap the benefits. Have a look at this info graphic and learn more.

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