Used Car Financing in India

What if you want to own a second hand vehicle but don’t have enough resources, so what are your options? Simple you can finance your vehicle, but is do you know everything about second hand car loans and finance.

It is always recommended to polish your skills on used weapons and then go for the new ones – the saying is finding an apt application in car segment of India today. Most of new drivers prefer to opt for pre-owned vehicles before investing huge money in new one.

 (Image Source: carloansbadcredithistoryblog)

Though, acquiring financial help for used cars is nothing less than headache at present. There are 2 factors that play a vital role in pre-owned car loans to be precise its age & the model. Also, the bearer is needed to pay a hefty cost for used car as compared to new car. In India, people availing pre-owned car financing options have to pay 3% more than the amount they are required to pay for latest cars. And, lastly, there is more chance that you may not get the complete value of the car as loan.

As per norms, used car loan is granted only when age of the car and loan’s tenure do not go beyond 7 years in combined manner. Thus, if you are planning to get loan for 5 years, the age of your vehicle should not exceed two years in any condition. If you need a loan for 3 years, than the age must not exceed 4 years and the same is applicable for lesser years.

For used financing in India, there are two types of financial bodies available that can help you in this cause: banks and non-banking financial companies (NBFC’s).

You can benefit by connecting with Organised Dealer

These days you have enormous options available in market for you to choose from among the second-hand cars. And along with the car many options of organised dealers are also available. These dealers source the cars, & put them up for sale.

Moreover most of the banks & NBFCs are at ease while financing a car through an organised dealer because of the due careful checks done by the dealer, which reduces the financiers' risk.

What we suggest you today, is to connect with Shriram Automall, which solves both of your problem. Shriram Automall India Limited is the leading service provider in used vehicle industry and provides services from Parking to disposal, from acquisition to finance and Insurance Services. Being a wholly subsidiary of Shriram Transport Finance Company, Shriram Automall is providing customers with all the integrated services to serve them with the best of services for used vehicles. Having a large inventory of buy second hand cars in India, Shriram Automall provide customers with nothing but the best  through its unique and Transparent mode of dealings i.e. Bidding Events.

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Consider These Things To Check While Looking To Buy A Used Car

(Original Source: Things to check while buying a used car)

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Maruti Suzuki Keen on Launch new version with Automated Manual Transmission (AMT)

After the launch of its successful Celerio model Maruti has introduced the new technology of AMT in its upcoming models including the new Wagon R & Maruti Swift series (hatchback or the Swift Dzire compact sedan) will receive the low-cost, yet convenient AMT technology this financial year.

The updated version of Maruti Wagon R will be launched in few days during the festive season to take utmost benefit of the occasion & achieve high sales numbers. Like its existing modals the AMT version of Wagon R will be powered by 998 cc three-cylinder K10B all-aluminum engine that produces 68 PS at 6,200 rpm and 90 Nm at 3,500 rpm. The Automated Manual Transmission system is a 5-speed unit.

(Image Source: autocarindia.com)

See Also: Top fuel efficient cars in India

Seeing the good response for its AGS (Auto gear Shift) technology on the Celerio and Alto K10 in the Tier 1 cities Maruti has taken this decision. As per sources Maruti is combining the affordable technology with the fuel-efficient DDiS diesel engine. At 26.59 km/l, the Dzire diesel is the most fuel efficient in its class.

With Maruti taking a step forward in introducing new technologies for its upcoming & existing vehicles we are sure to enjoy the competition it will get from other major players in the game.

Meanwhile if you are looking to buy used cars in Delhi with good condition & affordable price than you should pay a visit to Shriram Automall. You will be astonished to find an exhaustive range of used cars from all major car brands in India. You can also take benefit of their easy finance facility & other allied services. SAMIL helps customers in both acquiring or disposing a used vehicle easily.

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Follow These Steps Before Buying a Used Car

Planning to purchase a used car but you are confused and cannot decide from where to start. It happens with everybody, because owning a car is not a child’s play rather you have to very sure where you are putting off your investment. But you don't need to have the knowledge of a mechanic to find a good used car. The two most vital qualities you need are patience and common sense, combined they will help you know, how to purchase a used car. Purchasing a used car is still a much better financial decision than buying a new one, but only if you are willing to devote your time and effort to do it properly. Follow the guide to own the best suitable car for you:

Research 

It is important to obtain the history about maintenance, in regard to the type of the car you choose. Select the vehicles that have the best maintenance records, so that you don’t have to pay more money on repairs in the over the years. Another thing to consider is fuel mileage. If you purchase a vehicle which is going to cost you a lot in case of fuel, you need to reconsider buying a car. Also, try to steer clear of a vehicle's first year of production. There are usually more mechanical problems with the vehicles in its first year. Once you have narrowed your list down, you can begin your search for a specific vehicle.

Ownership

Buying a used car from the trusted person owner will help you to eliminate some of the unknowns you might encounter. The exception to this is if there are full maintenance records from the previous owner you will have a complete story. The most important part of the story are the records, which will prove whether the oil was changed on the regular basis or not. With regard to maintenance history, oil change frequency is absolutely critical.

 (Image Source: simc-wire.com)

Any Involvement in Car Accident By Previous Owner

This is a critical question. Don’t purchase a used car that has been involved in anything but the most minor incident. If you know or have any idea that the vehicle has been in an accident, walk away.. Is the frame bent or dented? Does everything look fine? Was it repaired properly or not? Is there any damage you can't see? Don’t take a chance if you have a minor doubt.

Regular Maintenance Records

If there are no maintenance records, don’t take the deal forward don’t take the owner's word. You need to have a proof. Make it clear to the owner that you want to review the records before you make the trip to see the car.

If you are looking to buy used cars in India, you can visit Shriram Automall India Limited (SAMIL), the leader of the used vehicle industry. Purchasing a pre-owned vehicle is easy and convenient now by accessing SAMIL’s unique Physical and Online Platforms. SAMIL also provides its customers with a range of integrated services which are aimed towards customer satisfaction.

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Top 5 Fuel Efficient Automatic Cars in India

In India, where traffic & population never stand still, it just grows. Meanwhile the only thing we can do is to concentrate on the concern of traffic that’s the reason of high fuel wastage causing frustration. Automatic cars are in for quite some time now as they consists higher comfort feature, however people shy away from buying these cars due to their less efficiency in terms of fuel.  Now days, fuel efficiency becomes a hot topic among car buyers in Indian automotive market, here’s a look at India’s top 5 most fuel efficient petrol automatics.

Tata GenX Nano

The new GenX Nano is a vast enhancement over the earlier model in diverse aspects. One such area is the addition of an AMT unit which comes mated to the 624cc, twin-cylinder petrol motor that produce 38PS and 51 Nm of torque. The engine returns an ARAI certified fuel economy of 21.9 km/l.

(Image Source: tatanano.com)

Maruti Suzuki Alto K10

One of the most fuel efficient petrol automatic cars in the country, Alto K10’s is popular in India and has further increased thanks to the AMT unit that returns an remarkable 24.07 km/l, which is the same as the manual variation. Also, the entry-level hatchback is powered by a 1.0-litre, three-cylinder petrol engine the produces 68PS and 90 Nm of torque.

(Image Source: marutistoragenew.blob.core.windows.net)

Maruti Suzuki Celerio

Maruti Suzuki Celerio, The first car in Indian automotive market to feature the now famous AMT unit, Celerio is also one of the very successful products in the country from Indian car manufacturer Maruti Suzuki. It is driven by the same 1.0-litre K10 engine that also powers the Alto K10. Outputting 68PS of power and 90 Nm of torque, the Celerio AMT also returns an ARAI certified mileage of 23.1 km/l, which is similar to the manual variants.

(Image Source: blog.gaadikey.com)

Honda Jazz

Newest vehicle in the list, the Honda Jazz got off to a flying launch in the nation. Although, its sales have are now dropping, the Jazz comes with the option of a petrol automatic (CVT) unlike any of its rivals in this segment. Under its hood is a 1.2-litre, four-cylinder petrol motor that gives out 90PS of power and 109 Nm of torque, which is able of returning an impressive fuel economy of 19 km/l.

(Image Source: hondacarindia.com)

Nissan Micra X-Shift

Launched in July 2015, the latest variant of the Micra hatchback thereby making the automatic variation of the vehicle more inexpensive. Nissan Micra X-Shift Limited to just 750 units and powered by a 1.2-litre, three-cylinder petrol engine that churns out 75PS of power and 104 Nm of torque. The engine comes mated to a CVT gearbox that returns an impressive 19.34 km/l (ARAI certified). The front-wheel drive automatic is a very good option to consider in the hatchback space.

(Image Source: media2.intoday.in)

Although, these are amazing fuel efficient cars, but if these are going out of budget you can always buy second hand cars in India with automatic functionality by visit Shriram Automall the country’s finest place for the exchange of used vehicles & equipment at fair price. 

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Tips to make an appropriate purchase a Used Car Online

Can we say that mankind has become even more lethargic in the era of e-commerce? Yes, we can! But, what’s wrong with that if we can get the same quality with less investment of time and money? Now that marketplaces have suddenly landed up in our home, we need to be extra cautious while making that perfect choice. So, what if you have to buy a used car online? Obviously, all of us need tips to make an appropriate purchase because it’s a virtual world that we are going to buy a used car from. 

Verify before you get into a loss Used cars online generally ride on the authenticity risk to reach your computer screen. Hence, it is your responsibility to verify the credibility of the seller. Your homework should be done well in advance of purchase. 

 Drive before you finally decide Well, a virtual test drive of a used car online is still going to take some more years of technological advancement. But, before that we have to depend on a real test drive only. So, get out of your lazy zone and go for a test drive before making that final purchase of a used car online.

Read more at: http://shriram-automall.blogspot.in/2015/01/top-three-tips-to-buy-used-car-online.html

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