Get the Tata Capital App to apply for Loans & manage your account. Download Now


Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required

Tata Capital > Blog > Loan for Vehicle > Planning to Buy a Used Car? Mumbai is the Place to be!

Loan for Vehicle

Planning to Buy a Used Car? Mumbai is the Place to be!

Planning to Buy a Used Car? Mumbai is the Place to be!

The city of Mumbai is considered as one of the best metros to live. It has just about everything you would need. But did you also know that the city of Mumbai is also one of the best places to buy a used car? While owning a car used to be more of an emotional need (status symbol, aspiration), in the city of Mumbai it has become a necessity.

However, buying a car, especially a used car in Mumbai is actually rather simple. If you are wondering how and are planning to buy a used car, we have the answer. Not just buying, availing a used car loan is also equally simple.

Mumbai is a happening place

The used car market is no exception to Mumbai’s charms as the city has transformed the market irretrievably. It has become a thriving industry thanks to the interest shown by automakers, enterprising car dealers and the explosion of digital platforms showcasing used cars. The financial clout of automakers has transformed the used car market to become as vibrant as a new car market. Can you imagine separate sub-branding of pre-owned cars under the umbrella of the mother brand offering warranties, AMCs and used car loans.

Used car prices in Mumbai

If you take a cursory look at the used car websites, you will notice that the prices for similar used cars seem to be the lowest in Mumbai as compared to other cities. You will get a good used car for a lower price if you buy in Mumbai as compared to buying in any hinterland city. If you have found yourself a good used car, make sure you check if the same can be bought using a used car loan.

Variety of cars in Mumbai

Since Mumbai is a happening city, many new cars make their debut in Mumbai first and consequently become available as used cars first in Mumbai. Thus, you can be the proud owner of a new model used car at a much lower price than the original.

Choice of finance options

NBFC’s like Tata Capital, provide used car loans so that buying the car becomes easy for you. The process is simple and quick and you can avail used car finance online as well.

Get a luxury car at a much lower price

Mumbai is a city which can give you a fantastic choice of luxury cars. You name it, you can get it at great prices. For instance, you can get a 2013 BMW 5 Series for Rs 30.5 lakh as compared to a new car price of Rs 50.5+ lakh. Similarly, you can get a 2010 Mercedes Benz E Class for Rs 18.5 lakh as compared to Rs 56 lakh for a new car. Typically, luxury cars perform very well and can give you a lot of driving pleasure with hardly any maintenance required. You can avail a used car loan from financial institutions like Tata Capital to make this dream come true.

Flaunt a new model

If you happen to be in another city and want to show off a new car, you may as well go to Mumbai and buy a second-hand car there which will be as good as new. In some cases, you could even be the first person in your city to own that car even before the automaker launches the car in that city.

If you are on the lookout for a good car with luxury written all over it you must try out the Mumbai used car market. Don’t worry about finances or quality. You can get a pre-owned car by availing a second-hand car loan.