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

New Commercial Vehicle Financing

  • First time user
  • Retail and strategic Clients

Used Commercial Vehicle finance

  • Repurchase
  • Refinance
  • Top up
  • Balance Transfer

Tata Capital > Blog > Loan for Vehicle > Why a Personal Vehicle Should be your Most Important Expense in 2023?

Loan for Vehicle

Why a Personal Vehicle Should be your Most Important Expense in 2023?

Why a Personal Vehicle Should be your Most Important Expense in 2023?

A person driving in his own car has always been the image of a successful individual. Today, a personal car is still a luxury to many, but due to heavy impact, it is now the most important expense you should have.

With the advent of Covid-19, and things that were the norm, aren’t anymore. Social distancing, quarantine, work from home, sanitizers, hospitals, all these have become the new norm. That’s not where the changes have stopped; owning private cars have also become a necessity, and an integral expense.

Additional Read - How to Evaluate the Condition of a Used Car?

Preferring private transportation

The onset of the pandemic has caused everyone to fear any form of public transport. The unknown specifics of the virus has led to mass mayhem, and while lockdowns have started to lift, it is still quite unsafe to avail public vehicles, as you will be at higher risks of contracting the virus. This is one of the primary reasons why a private vehicle should be your priority expense.

Inter-state or city transportations

The constant fear of public transport has also caused mass problems for intercity or country transportations through airlines, railway, etc. Moreover, the pandemic has also led to hiked ticket rates, lesser availability, and the obvious fear of contracting the virus. Now more than ever, owning private vehicles is important, to help you in travelling larger distances, which will save you money as well as keep you as safe as possible from the virus.

Easy purchase procedures

As national lockdowns are getting lifted, owning a private car is becoming more of a priority, especially for first-time buyers. This is because of how most of the purchase procedure is now shifting online, hence making the whole task a lot easier. Since social distancing is the new norm, buying cars online is the go-to, where communication, enquiry generation, payments, or even a second-hand car loan, everything is done online. Moreover, such digital channels also provide valuable services such as financing and car evaluations. Hence, purchasing your own car is a sensible expense right now, with so many benefits.

Additional Read - What Do People Look For When Buying Used Cars On Online Car Stores?

Great deals for used cars

While many are leaning towards buying new cars, others are prioritizing to sell theirs, due to the crippling economy. As a result, there are great second-hand cars available, at value-for-money deals. Moreover, lenders are also offering great used car loan, so purchasing one is now easier than ever. If you’re a first-time buyer, now is the time to make the purchase, with used car markets thriving with attractive offers. With affordable prices, you can get yourself a private car, that might just save you from the unforgiving virus.

If you’re looking to purchase a private vehicle and need a loan, Tata Capital is the financial support you need. Be it flexible EMIs, affordable used car loan interest rates, or quick processing, they will provide you with whatever you need to bring home your new car.

Leave a Reply

Your email address will not be published. Required fields are marked *