benefits of driving an old car

5 Unique Benefits of Driving an Old Car in 2024

April 05, 2024 • 277 views

Buying an old car is an affordable option compared to a new car. But that's not the only benefit of buying and driving a used car. This blog lists 8 benefits of driving an old car and the best financing option for a used car. Read on!

5 Benefits of Driving an Old Car

Here are some of the benefits of driving an old car:

1.    A Bouquet of Choice
 With an old car, you have various options to select from such as colour, engine capacity, type of transmission, model of the car, car's safety features, fuel efficiency, etc. Choose the one that best fits your budget and preferences.

2.    Repairs are Cheaper
The repairing cost of an old car is comparatively cheaper than the current model. This is mainly due to the latest technological integration in the spare parts. For instance, the door replacement cost of the latest generation car is way higher than that of an old car. This is primarily because of the integration of the latest technology, such as power windows, power door lock systems and other sensors in the new generation.

3.    Environmentally Conscious Option
Opting for a used car reduced the demand for new cars, which helps in decreasing the number of emissions produced during the manufacturing process. By opting for a used car, you can still enjoy a great driving experience while contributing to the environment.

ALSO READ :- 12 Essential Car Safety Features To Check Before You Buy A Car

4.    Lesser Waiting Period
Used cars generally have a low waiting period as compared to new cars. The waiting period for a new car is high, especially during the festive seasons. The waiting period can sometimes go on for months. This can be frustrating when you want a car urgently.  

5.    Fulfill Your Classic Car Dreams
Owning a classic car can give you the sense of achievement that you always dreamt of. Buying a classic second-hand car can save a considerable chunk of money compared to a new classic car. Moreover, a second-hand classic car's value increases with time, giving you a high return while reselling. 

Old Car Loan - Best Financing Option for a Used Car

If you are looking forward to purchasing an old or used car, availing a used car loan can be a great option. Older vehicles typically come with a lower price range which means smaller loan amounts and potentially lower monthly payments. Additionally, since old car loans cater to vehicles with depreciated values, borrowers may enjoy reduced interest rates, resulting in overall savings over the life of the loan.
With Poonawalla Fincorp, you can get a Pre-owned Car Loan at affordable interest rates starting from 11% p.a. along with flexible repayment tenure.

To Conclude 

When you are driving an old car, not only the depreciation rate is low but also there are several benefits such as low insurance costs, low repair costs, no additional expense on accessories, etc. Driving an old car add to your unique taste, individuality and personality. Most importantly old cars are affordable. So, you can avail of a loan amount of up to ?75 Lakh with Poonawalla Fincorp’s Pre-owned Car Loan and enjoy benefits such as flexible repayment tenure, minimal documentation, quick approval, etc.

Disclaimer

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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