How to Track Personal Loan Application Status Online?
Personal Loans are the best funding options for people who nee . . .
Apply for Instant Loan
Everyone wants to own and drive their dream car around but most people don’t have the budget to fulfil this ambition. However, if people are willing to look at options beyond the expensive brand-new cars, there are ways to own a nice vehicle. Wondering how you can do that? Let us guide you!
Consider the ever-expanding market of pre-owned cars, for example. Over the past decade, this market has grown so significantly that today it is giving major competition to the new car market in India. The reason lies in a pre-owned car’s affordability quotient. The moment a new car is sold and leaves the showroom, its market price goes down. Irrespective of the brand and model, depreciation of a new car is about 10%-20% in the first year itself whereas second-hand cars are already past the maximum depreciation stage. This means you need to pay less for the same car you have been dreaming to buy one day.
Another reason the second-hand market has grown is the quality of cars. If you think ‘used car’ means a car that’s in bad shape, you might be highly mistaken. The new age car owners prefer to upgrade their automotives every few years and thus, sell their brand new cars after using it only for a few months. Moreover, when reputed car dealers do a little touch-up, the used car returns to its former glory.
Despite the drop in cost, the price of the car can be around a few lakh rupees. When savings are little but buying a car is essential, you can opt for a used car loan, which several financial institutions companies are ready to provide. Because of the technology, the entire process of used car loan application and approval has become very quick and transparent.
A used car can be afforded by most Indians these days. The reduced price, which can be paid in easy instalments, and the comfort of a car, make it a win-win situation for those who are getting tired of travelling in crowded public transport and can’t wait to take out their own four-wheeler.
Disclaimer: This post was first published on 24th August 2018 and has been updated for the latest information, freshness, and accuracy.
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.
Subscribe to our newsletter and get exclusive deals you wont find anywhere else straight to your inbox!