The Pre-Owned /Used car market has shown rapid growth in India. According to Autocar India, the used car sector performed about 150% better than the new car market in the last financial year. All major financial and vehicular institutions predict an enormous growth in used car sales In India by 2030.
Experts agree that the used car sector will flourish due to the many benefits it bestows upon the buyer.
The Benefits of Buying Used Cars in India
Pre-owned car market growth In India is not unprecedented because of its many benefits. Let’s look at some of them.
Loan for Used Car in India
A good second-hand car can be bought with the help of a pre-owned car loan. A loan for second-hand cars is provided at attractive interest rates and you can choose flexible repayment tenures. You can look for the best loan offer for used cars, before applying for a loan. Poonawalla Fincorp offers the most affordable loan scheme for a pre-owned car.
Apply for Pre-Owned Car Loans
Applying for a pre-owned car loan is a quick and hassle-free process. Application for a loan can be submitted to the desired financial institution, either online or offline. After that, you submit your documents. After a swift verification process, your loan application gets approved, and the funds are disbursed instantly.
However, you must consider these factors, before applying for a pre-owned car loan:
Here’s the eligibility criteria for pre-owned car loan:
Required document for pre-owned cars:
Any of the following documents can be provided as Identity & Address Proof:
All the following documents can be provided as Proof of Income:
The Bottom Line
The pre-owned car market in India is all set to grow by leaps and bounds. More and more people will buy used cars due to its many benefits over purchasing new cars.
You can avail of a variety of loans, including Pre-Owned Car Loans from Poonawalla Fincorp at competitive interest rates. For more details, contact us online and our representative will get in touch with you.
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