Benefits of having a car

7 Benefits You'll Enjoy if You Upgrade to Your Own Car From a Bike

August 19, 2022 • 9533 views

In any case, whenever someone is planning to buy a car, the first question that most of them will have is 'do I buy a brand-new vehicle or just go for a used car?' If you are among those who think that the former is the right choice, you might not be wrong. It is indeed a great feeling to buy a brand new car than going in for a second-hand one but it surely makes financial sense to buy a used car. Apart from the savings, one also gets to benefit in many other ways while buying a used car. 

So here are 7 joys of life you'll relate to if you have recently upgraded from a bike to a pre-owned car:

1.    Save money with slower depreciation
Every car depreciates, but a used car has an advantage over a new car in this regard. Compared to a brand-new car, it loses value slowly. The depreciation of a vehicle peaks in the first three years after purchase. It goes without saying that when you purchase a used car, you will pay a price that has already experienced significant depreciation.

2.    Avail cost-effective insurance 
Getting your used car insured will be less expensive than a new car. This, combined with escalating additional taxes and other clauses, makes a new car prohibitively expensive. You can sometimes find a used car that is already insured for an extended period of time so you do not need to purchase additional insurance for that period; it can simply be transferred to your name.

3.    Upgrade your segment
Budget is an important consideration when upgrading from a bike to a car. When you buy a used car, you can save money while also upgrading your segment. You can save money by purchasing a year-old car rather than a new car right out of the showroom. 

4.    Travelling together
For individuals with families, a car is any day a better option when compared to a bike. You and your family can now relax in the car and enjoy the feeling of being together. Whether it's a trip to a relative's house or a late-night ice cream run, being in the car together can help the family bond.

5.    Sense of Pride
Because a car is a status symbol, there is no better feeling than having it parked beside your house. Owning a car will undoubtedly fill you with pride. Your neighbours, friends, and other members of society will look up to you for motivation to succeed. Furthermore, this sense of accomplishment motivates you to continue pushing your limits and achieving more in your life.

6.    Tension free drive 24x7 
Riding a bike for several kilometres while experiencing smoke and dust from passing vehicles can be a tiresome experience.  While driving a car, you no longer feel exhausted and depleted of energy when you get to your destination. Additionally, you no longer need to consider leaving the house ten times before leaving because of the awful rain, icy winters, or heat. Your life will be more organised and comfortable.

7.    Being secure
You'll quickly realise that changing to a pre-owned car has been a wise move for you because a car is considerably safer than a bike. In worst scenarios like accidents or road mishaps, a car is safer than a bike. Without any worry, you can go long distances with safety and comfort. 

Benefits of Used Car Loan

The memory of you buying your first car is what you’ll cherish for years to come, undoubtedly. Although achieving this objective is not simple, we can guarantee a positive experience with the Poonawalla Fincorp Used Car Loan. Our loan is built with features to accommodate your demands at every stage of the procedure. Some benefits of used car loan are:

Higher loan amount: Find the vehicle of your dreams and make the purchase a reality with the Poonawalla Fincorp Pre-Owned Car Loan. Get a sanction of up to ?30 Lakh and the used car of your choice. 

Up to 90% auto loans: We make sure you obtain the car you desire, no matter what. With our assistance, you can get funding for up to 90% of the automobile's value, helping you to buy a car without stress.

Competitive Interest Rates: With our low-interest rates, you may keep costs in check and enjoy payback terms that are easy on the wallet. 

Minimal Documentation: One of the best benefits of used car loan is that you simply need to provide the bare minimum of supporting papers to apply for and get approved.

Flexible repayment option: By choosing a repayment schedule that lasts up to 60 months, you can stay within your budget for the loan tenure. 

You can now obtain nearly all the advantages of a new car while saving a significant sum of money and receiving the guarantee of certification and warranty. Even if you decide to sell it in the future, you won't lose as much money as you would if you bought a new automobile. 

So, the next time you think of buying a new car, consider pre-owned car options as well to benefit from lower costs, a wide array of choices and optimal comfort. 


We take utmost care to provide information based on internal data and reliable sources. However, this article and associated web pages provide generic information for reference purposes only. Readers must make an informed decision by reviewing the products offered and the terms and conditions. Pre-Owned Car Loan disbursal is at the sole discretion of Poonawalla Fincorp.
*Terms and Conditions apply

poonawalla fincorp team

Poonawalla Fincorp Team

Our team of expert writers and editors are passionate about providing authentic and valuable information on finance. Our aim is to simplify financial and finance-related concepts. We strive to help our readers become more aware and empowered to make informed financial decisions.

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