Here’s why you should be buying a pre-owned vehicle instead of spending big bucks on a brand new one!
With increasing costs causing a hike in car prices – even with discounts – the used car market is beginning to look more-and-more attractive. Why? Well, here are 5 reasons why buying a pre-owned car makes more sense than looking at a new one.
Save big bucks
The most obvious rationale behind buying a pre-owned car is that you’ll save some money. In fact, going for a lightly used car will save you about 25-30% of what you’ll pay for a new model of the same vehicle. This means that going for a pre-owned model of a car, which costs, say, Rs 10 lakh, would save you around Rs 2.5 – 3 lakh – a huge saving, wouldn’t you agree? Moreover, there’s no registration fee or road tax, unless you transfer the vehicle to a different state. Now, if the very idea of a pre-owned car is troubling for you, consider this – as soon as you drive a new car out of the showroom, it becomes a used vehicle and, consequently, is worth considerably less than what you paid for in the first place.
Better & Bigger
That’s right! If you think about it, buying a pre-owned car means that you can get a better car at a much lower price – for instance, you could pick up an Audi A4 at the price of a Skoda Octavia! That’s not too bad, is it? Besides, if you desire to move up to a premium brand, but are hesitant, owing to your financial constraints, purchasing a pre-owned luxury vehicle can be a very viable solution.
While modern cars are better and safer, they aren’t always more fun to drive. So, if you’re a driving enthusiast, buying exciting cars from the past will be more rewarding than going for a new one in many cases. Meanwhile, buying iconic vehicles – which aren’t on sale anymore – can be a valuable investment for the future, as they are likely to become rarer with time. For instance, purchasing a good example of an E30 3-Series from the ‘80s is certainly a better investment than going for a latest-gen 3-series, which will merely depreciate in value.
Earlier, buying a pre-owned car was more like a shot in the dark – cars weren’t reliable and you had no way of checking the service history of the vehicle. But, over the past few years, things have changed significantly – not only cars have become more reliable, but, in most cases, you can check the service history and repair works carried out on the vehicle through the dealership for your peace of mind. Concurrently, there are many renowned dealers and companies for pre-owned vehicles that ‘certify’ pre-owned vehicles based on their health report. This, of course, makes the entire process a whole lot easier for you.
Attractive financing options
With an increasing shift in peoples’ interest towards pre-owned cars in recent times, finance companies are also lending a helping hand to make the buying process easier, with lucrative loan offers and easy EMIs. Firms like Tata Capital are at the forefront of this trend and are offering amazing deals to buyers, which various interesting features, such as:
- Flexible Tenure: You get the freedom to repay the loan over a period of 60 months.
- Less paperwork: The only thing that you have to worry about is choosing your new car and not the paperwork that follows, for firms like Tata Capital offers a very simple process for purchasing a pre-owned car. A few minutes of your time to fill online forms, and you’re good to go.
- Repayment options: With a wide array of options, such as online payment, post-dated cheques, and ECS, to choose from, it’s never been easier to repay your pre-owned car loan.
- High loan amount: You can take a loan of as much as Rs 50 lakh, which, in fact, allows you the possibility of owning a luxury car.
- Competitive interest rates: With competitive interest rates, purchasing a pre-owned car has become relatively affordable.
- Minimum documentation: Unlike before, fewer documents are required to process your loan request these days.
- Instant online approval: As soon as your documents are received, in most cases, you get an instant online approval for your pre-owned car loan.
So, what are you waiting for – go through the classifieds and find a used car that’s the perfect match for you. As for financing, well, Tata Capital has you covered.