Used cars or pre-owned cars are extremely affordable, available in good condition (even certified by reputed dealers) and have a lower rate of depreciation. These factors make buying used cars a viable idea and bring a four-wheeler further within the reach of the common man.
Banks and NBFCs even offer used car loan with competitive interest rates and quick processing time, making it easy to become a car owner.
If you want to buy a second hand car in Mumbai, here is how you can find the perfect car at the best price:
Friends, relatives and acquaintances
When looking for a used car, the first place to reach out to is people you know. You might know someone who probably is looking to sell his/her car. This brings in the trust factor, and you can be sure that you are getting the right value for money. You can even ask them to lend you the car for a couple of days to drive and use before being sure it is a good fit for you and your family.
Additional Read: How To Get A Used Car In Mumbai Under Rs 2 Lakhs
Buy and sell Facebook groups
Another way to meet sellers directly and cut out the commission of middlemen is via Facebook groups. There are dedicated Facebook groups for buying used cars in Mumbai. You can look for posts advertising used cars for sale till you find something you like. The advantage of such groups is that you can see actual pictures of a car, interact with the seller directly, negotiate the best price and fix a meeting to check out the car before buying it.
Used car portals
You can also check online portals that specialize in buying and selling used cars. There are C2C portals such as Quikr and OLX and B2C portals such as Cars24, CarDekho, Droom, Truebil, etc. B2C brands conduct their own checks and price cars accordingly.
Local garage and used car dealers
You can also rely on a mechanic you know in a local garage. Such professionals also happen to know people willing to sell their cars. A mechanic will be able to guide you properly and give you the complete lowdown on a used car that might be up for sale.
You can also check with used car dealers. It is, however, recommended you visit a dealer with someone who knows cars well or a mechanic who can help you choose a good car.
There are authorized resellers of reputed automobile brands such as Maruti Suzuki, Hyundai, Mahindra, etc. who buy and sell models of their own brand. If you are looking for a specific make and model or if you trust a particular brand, you can directly go to a reseller. There are many such resellers in Mumbai who can provide you with certified, good-condition cars.
Additional Read: Top Benefits of Used Car Loan in India
Once you have identified a used car to buy, you can apply for a loan. Tata Capital’s used car loan is processed within a few days so you can quickly close the deal. You can make use of the used car loan calculator available on the Tata Capital website to get an approximate idea of the EMI you will have to pay.