Are you in the market looking for an Electric Vehicle (EV)? Well, then consider getting a second-hand model!
Because EV engines don’t wear down the way internal combustion engines do, they’re still a steal even if you buy a pre-owned one. Not only will a second-hand electric vehicle offer excellent quality, but it will also end up saving you big bucks on the fuel and maintenance costs.
And if funding poses a problem, you can always turn to a reliable lender like Tata Capital and avail of competitive used-car loan interest rates.
But first, here are three questions you must ask before purchasing a second-hand EV in India.
How much does it cost?
Sure, you’ve chosen an EV model that oozes panache, but what good is it if it burns a hole in your pocket? Even second-hand EVs come with a substantial price tag in India. But while EVs typically have a higher upfront cost, they end up being much cheaper in the long run. This is because they have a much lower running and maintenance cost.
So if you’re thinking of buying one, we recommend opting for a used-car loan. These loans are available at attractive interest rates and are disbursed quickly. Why dent your savings when you can borrow a low-interest loan online?
Additional Read: What is a Hybrid Car? How Exactly Does It Work?
What is the driving range?
Another critical point of consideration is the car’s driving range, which is the distance an EV can cover before you need to recharge its battery. As most of us have driven only petrol or diesel cars, an EV’s range is still unfamiliar territory. So when you’re shopping for one, it’s best to consider the size and quality of the battery pack the cars carry.
Where a budget EV can drive up to 100 kilometres on a single charge, a high-end second-hand car lets you enjoy a far better range. A typical used luxury EV can cover a distance of at least 400 kilometres on a single charge as it has a bigger battery pack.
Are there any efficient charging stations near you?
In bigger cities, you’ll be able to locate charging stations comfortably. Metropolises and even tier-II cities in India now boast easily accessible EV charging stations. Nonetheless, make sure you map out these stations around your home or office for improved convenience before buying an EV.
Unfortunately, you might find it challenging to scout for EV charging stations on remote highways and rural parts of India. Luckily, this scenario is slowly getting better as the installation of EV charging stations is already underway in various states across India.
Additional Read: Is Electric Car Better than Petrol Car?
To sum up
Now that you know how to buy a used electric car in India, all that’s left is to narrow down to a suitable EV model and figure out the finances.
If you are looking for a credible lender to get used-car finance, turn to Tata Capital. With us, you can get a loan at attractive interest rates and minimal documentation in only a few days. Learn more about our relaxed used car loan eligibility criteria here.