Utility has been the core value for Indians while purchasing products. Cars are no different. Used cars are a growing interest among the people of India. It provides maximum utility and caters to the needs of a young, developing India that aspires to buy cars at affordable prices.
Benefits of having pre-owned cars
There has been a recent surge in demand for second-hand cars. This can be because of multiple reasons. One of the major reasons is that they can be financed for less money than brand-new vehicles. You also don't have to pay a lot of taxes that have already been paid to the government. Moreover, the car's depreciation amount is likewise extremely low.
All things considered, value for money—which Indians prioritise most is the key advantage of owning a used car. Due to the substantial price reduction, the monthly instalments you make are also considerably reduced. Similarly, the amount of paperwork and the time it takes to receive the vehicle lessen making it the ideal option for the country's youth who prefer quick and inexpensive solutions.
How to buy a second-hand car
The auto industry now has more opportunities thanks to technology. Numerous online apps make it incredibly simple to buy or sell a car. It has not only streamlined the procedure but also greatly simplified it for people to complete. Consequently, a tremendous opportunity has been created for people to acquire cars at a very low price or even sell them, all from the comfort of their homes.
How to get a loan for a second-hand car
Loan taking process was not the same as it is today, earlier you had to wait in line to apply for Used Car Loans, and there was a lot of uncertainty involved in the process. It was a lengthy, time-consuming procedure but with the advent of newer technologies, we have been able to overcome such problems.
It is now possible to finance your car with just one down payment, though this is not the most preferred option. Long-term loans from organisations like Poonawalla Fincorp are more advantageous for purchasing cars due to their attractive interest rates.
Other benefits of a loan for a second-hand car from Poonawalla Fincorp include:
- Loan tenure that is comfortable and flexible
-
High-value sanction for financing or buying a variety of second-hand
cars
- Competitive interest rates and fees for pre-owned car
loans
- Easy online loan application process with 5 steps
- A minimal amount of paperwork, rapid loan processing, and quick
approvals
- Complete disclosure and no additional fees
-
Easy loan planning with a customised Pre-Owned Car Loan EMI Calculator
How you avail a Pre-Owned Car Loan with ease
Poonawalla Fincorp is a non-banking finance company registered with the Reserve bank of India with a focus on consumer and MSME financing. Realising how tedious it might be to get a loan for a second-hand car, we offer several options that prioritise your comfort to make your purchase convenient and easy on your wallet.
We have introduced a Chatbot feature on 3 popular platforms,
WhatsApp, Facebook and the Poonawalla Fincorp website. Our customers
are already used to these platforms and now, you can get a hassle-free
loan in just a few minutes using the same.
Here’s how you can
apply for a Used Car Loan online in 5 Easy Steps:
1. Online Application:
Click on
"Apply online" and complete the application form's
essential information.
2. Upload Documents:
Send in your
KYC and income documentation to see whether you qualify for a loan.
3. Verification:
Application and
supporting documentation are processed for speedy verification and evaluation.
4. Quick Approval:
You receive a
quick update once your loan application is accepted.
5. Instant Disbursal:
That’s all,
your car loan is immediately disbursed, enabling you to drive the
vehicle of your dreams.
Alternatively, you can also meet the Poonawalla Fincorp
representatives at your local vehicle dealership or visit a Poonawalla
Fincorp branch near you. We provide loans for second-hand cars to:
- Salaried Individuals
- Self-employed Individuals
-
Firms & Companies
We have tailored our Used Car Loan to provide you with some of
the best advantages. Every feature is intended to make the
purchasing process simple and seamless.
Conclusion
The most crucial thing to keep in
mind while purchasing pre-owned cars is to protect oneself from
fraud. Some businesses are attempting to defraud you by either
selling cars that are damaged or do not fit the description that was
previously offered to you.
You have to be a little alert while buying cars and do a thorough background check of the product and make sure it is of the highest quality. You also have to make sure that the company you take the loan for a used car from is trusted just like the Poonawalla Fincorp. We understand the importance of data privacy and maintain a high sanctity with a customer-centric approach to our dealings.
To make your purchase convenient and easy on your pocket, we provide several features that put your comfort first. What are you waiting for? Use our online loan forms and processing procedures to finance the car of your dreams today.
