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Tata Capital > Blog > Loan for Vehicle > How to Buy a Second-Hand Car in Punjab

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How to Buy a Second-Hand Car in Punjab

How to Buy a Second-Hand Car in Punjab

Buying a second hand car in Punjab or any other location requires you to be extremely cautious. The cars at dealerships may look pristine from outside. However, it’s the mechanicals which could spell trouble later. You need to be wary enough to examine the car yourself or get a trusted professional mechanic to look at it before making the purchase.

Let’s take a look at the possible options in Punjab to buy a second-hand car:

Car dealers

The most common option people usually choose to get a used car from is a nearby dealer. Don’t go by the mere looks of the car; instead, ask for the maintenance papers such as receipts of visits to service stations, new spare parts bills, etc. Ensure there are no taxes or challans overdue. Try to get as much information as possible of the car, including accidents if any. Stay away from a vehicle that might have met with an accident. You can easily get a second hand car loan when you purchase a car from any reputed car dealer in Punjab.

Individual sellers

A known person is the best one to trust when purchasing a used car. Chances of you being duped by someone you know are far less than when buying from private sellers. Usually, you end up getting a good deal from them. 

For a used car loan, you can apply online or check with your known financer to get it financed. 

Online classifieds

Another option is to surf online classified sites in Punjab such as OLX, Quikr and others. Select the brand and model of the car and the radius of the location. You can choose the car that suits you best and connect with the seller. Please note the prices quoted are generally higher on these sites and there is always room for negotiation. 

Additional Read: Things to keep in mind before you buy a second-hand car on loan

Used car outlets of OEMs

Many carmakers such as Hyundai, Maruti Suzuki, Mahindra, BMW, etc. also operate in the used car market. Maruti Suzuki retails used cars from its TrueValue outlets, Hyundai from First Advantage, Mahindra from First Choice, Mercedes Benz from Proven Exclusivity and BMW from Premium Selection. 

All cars from such outlets are thoroughly inspected and serviced. While the price of cars from these outlets is way higher than other options you might have to buy a used car, you are likely to get free services and other goodies with your purchase. Loans from multiple financiers are available here. Make sure you check the used car loan interest rates of each provider before choosing one.

Automobile portals

Online automobile portals like CarTrade and CarDekho too list used cars for sale. There are options to choose a verified car on these sites. A verified car means the vehicle has been thoroughly inspected by their professionals.

Additional Read: Benefits of Buying a Second-Hand Car

Tata Capital assists used car buyers with its attractive financing options. Before opting for a second-hand car loan, you can get an idea of the expected EMIs by using the used car loan calculator on the Tata Capital website. So, reach out to them today to aid your purchase.

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