When you plan to purchase a four-wheeler, a second-hand car lets you own a better model at a fraction of the cost. However, depending on your budget, you may still need used car financing to cover its cost. If you are worried about making a down payment on the car loan, it’s good news that you can now purchase used cars with zero down payment.
Are you wondering how these funding options work? Here is a guide that explains everything.
Should you purchase used cars with no down payment? Look at the benefits it provides.
Also Read: Things To Know About Buying A Used Car In India
When looking for 0 down payment used cars, follow these tips to find the best sellers:
Also Read: 10 Second Hand Cars Under 2 Lakh In Delhi
Check out these legal aspects when buying 0 down payment used cars:
Also Read: 10 Best Second Hand Cars In Delhi
With used cars requiring no down payment, you no longer need to keep your car purchase on hold due to a hefty down payment. Hero FinCorp allows you to purchase your dream car by offering used car financing with an LTV ratio of up to 175%. The interest rates are reasonable, and repayment terms are flexible.
1. Can I buy a car with zero down payment?
Yes, many loan providers finance used cars with zero down payment.
2. Is EMI on the down payment zero?
The zero down payment option allows you to purchase a vehicle without paying anything upfront. However, it spreads the entire cost in EMIs that you must pay during the pre-determined loan term.
3. What is zero all in downpayment?
A zero down payment means purchasing a used car and paying its cost in EMIs without paying anything upfront.
4. Is it good to have a down payment?
A down payment reduces your loan requirement, eventually lessening your loan amount requirement and making repayment more manageable.
5. Can I buy a car with a 1 Lakh down payment?
Since you can easily find used cars under 3 Lakh, a 1 Lakh down payment would be a good amount to make.
Hero Fincorp offers a wide range of financial products including Personal Loans for personal needs, Business Loans to support business growth, Used Car Loans for purchasing pre-owned vehicles, Two-Wheeler Loans for bike financing, and Loan Against Property for leveraging real estate assets. We provide tailored solutions with quick processing, minimal paperwork, and flexible repayment options for smooth and convenient borrowing experience.