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The top reasons why people buy used cars in India is because they cost less than new cars, have a lower depreciation rate, and the insurance cost is lesser as well. Plus, there are plenty of options these days, and even if you take a loan to finance the purchase, you will owe less than in case of a new car. In the light of the pandemic, these private vehicles can also make daily commuting safe and easy.Even if your financial situation has been impacted by COVID; there are 7ways in which you can save money while buying a pre-owned car.
Also Read:Guide to Financing Your NEW Used Car!
To wrap up, assess your needs and budget carefully and remember the above tips to save money while purchasing a pre-owned car. If you really like a current model but it is a little much for your budget, try and wait a year so that newer models can arrive and make this less expensive.And if you are availing a second hand car loan, compare different financial institutions and loan features before taking a call.
The act of paying out money for any kind of transaction is known as disbursement. From a lending perspective this usual implies the transfer of the loan amount to the borrower. It may cover paying to operate a business, dividend payments, cash outflow etc. So if disbursements are more than revenues, then cash flow of an entity is negative, and may indicate possible insolvency.
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