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Tata Capital > Blog > Loan for Vehicle > Useful Tips to Buy Used Electric Car This Festive Season

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Useful Tips to Buy Used Electric Car This Festive Season

Useful Tips to Buy Used Electric Car This Festive Season

The festive season in India brings unmatched joy and is also accompanied by an auspicious time for big purchases. Shoppers look forward to buying a car during this period. As a result, the market is brimming with a myriad of exciting deals and discounts from second-hand car dealers and attractive used car loan interest rates from several lenders.

And now, with the introduction of electric cars in the market, many buyers are opting for this eco-friendly vehicle. EVs are convenient, emission-free, and the pre-owned versions are much more affordable than a new car.

So, if you’re planning to buy used electric carthis festive season, check out the following tips.

Stick to a budget

With the car dealers leaving no stone unturned to attract customers, it’s easy to get swayed by the striking deals available. However, it’s prudent to settle on a budget and make good use of the festive discounts.

Since the price of a second-hand electric car can be higher due to the costly battery pack, used car finance can help. Use an online used car loan EMI calculatorto get a concrete idea of your repayment expenses.

Verify the battery life

What's a good electric car without a reliable battery? A battery pack is an essential component of an electric car. So, carefully assess how much battery degradation has occurred. Since it can be an expensive part to replace, check the quality and life of the battery before investing.

This way, you’ll also determine the car’s driving range and mileage.

Additional Read: Upcoming Luxury Electric Cars in India

Look for charging options

As electric cars are relatively new, it isn’t easy to find charging stations when on the road. So, before making a purchase decision, determine how you will charge the car. Enquire about the same from your dealer.

Electric vehicles have a variety of charging options, where fast charging needs a charging station. Whereas some EVs can also be charged at home. Therefore, consider all the options for your car beforehand.

Compare prices and negotiate

The electric car’s price can vary based on the model, battery life, age, and more. However, a used vehicle means great savings, and the best way to ensure that is to compare the options and negotiate with the dealer.

Check for the original prices to avoid overpaying. For added savings, avail of a used car loan to avoid upfront expenses. With the range of festive discounts available, you can bag a good loan offer.

Get insurance

Like any other automobile, it’s essential to get insurance for your electric car to ensure your safety on the road. Transfer the registration certificate and the insurance policy in your name and get a copy of the same before purchasing.

Additional Read: How to Buy Second Hand Electric Cars in India?

Searching for an affordable loan?

When financing a used car, availing of a second-hand car loancan give you the financial freedom you need! Tata Capital offers you a wide range of pre-owned car loans for up to 95% of the car value. With competitive used car loan interest rates, flexible EMI options, and swift loan disbursal, your favourite car now is just a click away!

Visit our website to know more!

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