The recent lockdown saw a striking rise in the sales of used vehicles to promote safer means of commute. Used cars act as an affordable and reasonable alternative to brand new cars, especially during a financial crunch.
When you purchase a used car, you will come across two options under the category – certified and uncertified used car. It is highly recommended to buy a certified used car as it allows you to leverage a wide range of benefits.
Here are three reasons why you must invest in the used car certificationpolicy.
Meets certification standards
Every manufacturer has a defined age/distance travelled restrictions for the used car to qualify for certification. Along with this, the car undergoes a strict inspection process where every part and piece is given a specific point. Based on the quality and condition of the car parts, the manufacturer decided whether the car meets the certification standard. This method ensures that the used car is still in its functional state and fit for its next buyer.
Additional Read: How to Check and Authenticate Used Car Documents Before Buying?
Comes with a warranty
Certified used cars come with a warranty for usually a period ranging from 12-36 months from the date of purchase. The certified used car warranty allows you to leverage the same coverage that is offered to the first-hand model of the car. Certain manufacturers also aid you with facilities like roadside assistance and free maintenance under the certified warranty.
Better financing deals
In the current market, certified used cars are slightly more expensive than uncertified used cars. But, most lenders offer used car loans at low-interest rates, which makes it easy for you to buy a solid vehicle. Lending institutions also favour the certified used vehicle loan applicants over uncertified applicants. Consequently, the chances of loan approval are higher if you wish to purchase a certified used car.
Overall, getting a certified used car will always be a more reliable and safe option for your big bill purchase.
Additional Read: How to Evaluate the Condition of a Used Car?
Get a used car loan today
Used cars are a bargain in comparison to a brand-new vehicle. But, they can still burn a hole in your pocket. Therefore, you must consider opting for a used vehicle loan to assist you with your purchase.
Get online and look-up the various loan plans available for certified used vehicles that lenders are offering these days. Gain in-depth knowledge of used car loan eligibility and figure out the options that suit you best.
You must also make sure that you select a plan that offers the lowest used car loan interest rate. While you surf online, you can also take the liberty of understanding various EMI options based on varying tenure and principal amounts. Simply locate the used car loan EMI calculator to avail of this facility on the lender’s official website. Get a second-hand vehicle loan today to purchase a certified used car. Financial institutions like Tata Capital have special loan plans with flexible EMI and repayment options that will fit your monthly budgets comfortably.