Advantages Of Taking A Pre-Owned Car Loan

Introduction

There was a time when owning a car was a status symbol. Today, however, a car is a necessity. Public transport is getting crowded, the cab services are becoming costlier and the distance between workspace and home is only increasing with better job opportunities springing up around the main city limits. From dropping kids at school to commuting comfortably to the office to visiting friends and relatives regularly, the reasons to own a car are many and diverse. But not all of us have enough savings or budget to buy a brand new car with ready finance. But there is an easy way to buy a car without stretching the budget—by opting for a fully functional pre-owned car. Because of its affordability and the wide range of vehicle options available, buying a pre-owned car allows you to drive home your favourite four-wheeler without much financial stress. The icing on the cake is the easy loan process offered by Hero FinCorp which makes the whole process extremely convenient.
 

Things You Must Know About Used Cars

Before we dwell on the many advantages of buying a used car via pre-owned car loans, here are things you should know. The market of pre-owned cars is expanding at a great pace and in fact, is giving tough competition to the new car market today. Another significant cause propelling the trend is the easy availability of pre-owned car loans. Several financial institutions offer attractive terms to the customers. Just like it is crucial to choose the right car for your family, it is equally vital to opt for the right lender who understands your requirements and constraints.
Hero FinCorp's Pre-Owned Car Loan has made many customers happy car owners via its simplified and transparent process. It offers the best interest rates.
 

The Relevance of Second-hand Cars

Choosing a pre-owned car over a new car has many benefits such as:
 

Affordability

There’s a sizeable price gap between a used car and a new one. The value of a car starts depreciating from the moment it is taken out of the showroom. Simply put, you pay much less for the same car if you buy it after it has been used for one or two years. 
 

More Car Choices

The growing market with multiple players also leads to a huge pool of cars to choose from. Customers can choose from a wide range of cars in terms of manufacturers, models, engines, colours, kilometres run, and manufacturing year, among others.  
 

Cheaper Process

A brand new car comes with added charges such as GST and road tax. There is no need to pay these additional charges while buying a used car. The insurance rates are lower for a used car and the certification process can be done easily.

Less Tension

You are more carefree while driving a used car as opposed to stressing out over not getting a dent in your new car. You will always think twice before taking your new car to narrow lanes and may lose your calm over a little scratch or a flat tyre. Driving your own car should be a matter of joy and not an unnecessary heartache.

Slow Depreciation

Used cars are already past the maximum depreciation stage and depreciate rather slowly as the car ages. This means that you can sell your pre-owned car almost at the rate you bought it in the next few years.

Easy Finance Options Available

While many websites are selling certified used cars, many financial institutions are offering a loan amount up to 80% of the car’s market value.    

Warranty on Repairs

For a second-hand car buyer, getting a warranty is a win-win situation. A repair warranty is included when you buy a car from an authorised dealer. With the inclusion of a warranty, you get nearly everything a new car buyer gets.