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Used Car Beginner's Guide
Should you buy a used car?
Buying a used car or a new car is always a tricky proposition. Often, the price comes into the equation and decidedly a used car is easier on the family budget than an equivalent new car. In today's highly technology oriented world cars use technology to maximum advantage. Gone are the days when you needed to fill the water in the radiator or measure the oil level or check the air in the tires. Even the noise levels in cars have come down and seldom has any one heard of rattling in older cars.
This state of affairs augurs well for the used car customer. Additionally, dealers of used cars are customer centric and they do up the cars to a pristine running condition. Many times they offer a limited warranty on pre-owned certified cars. Another aspect of used cars is the opportunity to get a used car that is as good as new. It is a truism in the used car market that a new car loses anywhere from 10 to 25% of its value within the first year. It means that you as a used car customer can get almost a new car at 25% discount.
If you are wondering how you will finance the car you want to buy you need look no further than us at Tata Capital. We have special schemes for borrowers such as you to finance your used car purchase.
What factors should you consider before buying a used car?
Once you have decided on buying a used car you will need to undertake due diligence of the used car market to get yourself a good used car.
You may like to examine the suggestions that follow:
- You must decide on the budget you can afford for the car. A quick thumb rule is a used car in a higher category is almost as the same as a new car in the immediate lower category. So, you trade off new car price by buying a used car that is bigger and more comfortable for the same price
- While deciding the class of car you must consider fuel efficiency. It is one thing to invest in a car but then you would need to run it which costs money. Smaller cars offer better fuel efficiency than bigger cars
- You must shortlist the class of car you want to purchase. There are entry level small cars or hatchbacks. Next, there are the utility vehicles which are more expensive than small cars but provide better features. Next, there are the mid-size sedans or three-box cars which are excellent for people who want to travel in style
- You will get an idea of the different types of cars and the prices associated with them if you visit our online store. The store lists more than 17000 used cars for you to choose from
- You can use the online store to short list a few cars and then proceed to examine other aspects
- You need to create a check list which will help you to compare the cars that you have shortlisted. The parameters to be checked include
- Year of manufacture
- Kilometres run
- General appearance
- Condition of body and tires
- Special or extended warranties
- Price quoted in relation to original price
- Condition of interiors - seats, handles, glove box, roof, roof lights
- Condition of front and rear windshields and side windows
- Running condition of the car through test drive
- Antecedents - ascertain the car has not suffered any accidents
- Ownership - single or multiple owners
- You need to check the documents associated with the car
- Registration certificate, lifetime tax, hypothecation, insurance
How can Tata Capital help you finance your car?
Once you have made a comparison and zeroed in on a particular car you can proceed to find ways and means of financing your purchase. We at Tata Capital offer an excellent used car loan scheme with many exclusive features. These include
- Car Loan up to 90% of the value of the car with provision to go up to 100% on select cars
- Up to 5 years car loan tenure with a provision to go up to 7 years on select cars and select salaried individuals
- 4 repayment options
- Attractive car loan EMI plans
- Online easy-to-use digital platform
- Competitive car loan interest rate
We urge you to visit our online used car store and choose your car and follow the procedure laid out there to become a proud owner of your car with absolutely minimal paperwork. Our car loan process is quick and disbursal is even quicker.