Why Do People Prefer Purchasing Used Cars Over New Cars in Mumbai?

Lauded as the commercial and financial hub of India, the city of Mumbai is one of the best metros to live. But did you know that Mumbai is also one of the best places to buy a used car? The market for used vehicles is flourishing at a tremendous rate in Mumbai, due to the interest shown by automakers, car dealers and the boom of digital platforms showcasing used cars.

Since the used car market is thriving in Mumbai, it has also made availing a used car loan easy, making it possible for many people to buy cars. With a second-hand car loan, you can easily buy used cars from owners as well as certified used-car dealers in Mumbai.

Here are some reasons why people prefer to buy used cars.

Higher Model

The most incredible benefit of buying a second-hand car with a loan for used cars is that you can own it at a much lesser price. Since Mumbai is a happening city, many cars make their debut here and consequently become available as used cars.

Warranty

Earlier second-hand cars were considered ‘junk’, but now with the entry of organised players, especially online used-car dealers, this segment has improved manifold. Most company-owned used-car outlets and dealers provide limited warranty to assure you of the durability of the pre-owned vehicles. The cars are also tested for reliability, sustainability and quality before being handed over to their new owner.

Slower Depreciation

The value of a brand-new car begins depreciating the moment it leaves the showroom. Typically, depreciation of a vehicle is at its peak during the first two or three years of purchase. But, a second-hand car depreciates at a much slower rate. Remember you buy a pre-owned vehicle at a price that has already suffered maximum depreciation and will not lose much value in the coming years.

Tension-Free Drive

In a city like Mumbai, where traffic and overcrowded roads are the norms, you continuously run the risk of getting scratches or dents on your car. This is a matter of grave concern, especially for first-time brand-new car buyers. But with a used car, you wouldn’t hesitate much to drive through narrow lanes and traffic-congested areas.

When searching for a loan on used car in Mumbai, pick Tata Capital. Opting for a used car loan with us allows you to have a value-for-money purchase. With us, you can also purchase a variety of used cars on EMI- from hatchbacks to premium sedans. We provide second-hand car loan at a competitive used car loan interest rate.

You can also use a used car loan calculator on our website to easily calculate your EMI. With the help of the used loan EMI calculator, you can plan your EMIs accurately.

Tata Capital is a trusted name and an excellent choice as we offer flexible EMI options and quick disbursal of loans. Before applying for a loan on used car with us, we recommend you to check your used car loan eligibility.

So, get in touch with us today if you are searching for a loan for used cars!