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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5 Easy Car Maintenance Tips For Women

Now days, a regular care is very important for your second hand cars to keep them working and look like a new one. So, here we are providing you these 5 easy car maintenance tips that must be known by women and which will definitely be proven worth for them.

(Image Source: autochrome.org)

Replacing the Flat Tire: The first thing one should do is to remove flat tires. There might be lot of probabilities of coming across a flat tire. What can be worse than getting a flat tire and waiting on the receive help from someone to come and change that flat tire for you. So, it’s better to know changing flat tire by yourself instead of depend on someone.

Know to Change the Worn Out Wipers:  In order to keep your used car look good, never forget to change blades of wiper’s every six months. Always perform an inspection to check for cracks on a regular basis, and don’t forget to clean the blades of dirty wiper with the help of a wet paper towel.

See Also: tips to buy used cars

Perform Regular Maintenance: It is very essential to get yourself handy with the cars manual booklet for users. Doesn’t matter whether you buy new or used car you must always research beforehand to educate yourself about certain important things. For example:

• Oil change: After every 3000 miles with oil filter
• Under the hood: Check as frequently as promising. Once in a week or in every 2 weeks if possible.
• Tire rotation: Rotate the tires every 6,000 miles following the rotation suggestion from manufacturers’. If you have a similar spare, incorporate it too in the rotation pattern so when it is time for change, it will run smooth and last long.
• Proper Balance & Align: Have your car checked after every 10k-12k miles or the first time you observe any strange steering or a vibration while speeding your car.
• Tune up, Filters and Timing belts: Make sure you follow up with recommendations from manufactures.

Fuel: If you have subcompact cars and SUV’s, then regular fuel is satisfactory, but if you own the luxury vehicles, like Mercedes, Cadillac or Audi premium fuel is always recommended by the experts. There is no doubt, the heavier the load you have got inside the car, the more power will be required by the engine to move the car. Indeed, Weight affects your car mileage too. If in case you are traveling with lots of people or luggage, expect your fuel to run out a little earlier.

Brakes are most Important: We get caught up with lots of work in our daily routine that we don’t pay that much of attention to our car until any major issue come up with. There is one thing that can cost your car a lot if not caught beforehand is brakes. So, never forget to pay attention to the sound your car breaks make during driving. If car begin to make squealing, it’s probably the right time for you to change your car pads. Don’t ever drive so close to other cars that you have to keep slam on your breaks every other second.


Hope these tips will be beneficial for your car and if you are looking to buy used cars in Delhi of your choice, you can always check our recommended tips on buying used cars.

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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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Trading of Pre-Owned Cars in India

The disposal of pre-owned cars in India requires everyone to be extremely cautious while carrying on with a deal. In order to extract maximum value out of the transaction, it is vital to take care of every aspect that contributes into the same. Although, the process involved in the sale of used cars in India is not that complicated but still, it requires great attention even in the minutest details of the transaction. This is because; a single mistake can cause huge loss of money. Here are some of the tips that can ensure the most effective deals in this trade.

• Get associated with an expert

Getting in touch with an industry expert for the disposal of second hand car is wiser than doing it yourself. With extensive knowledge on such kind of trade, these people help in getting best market price realisation for a used car in India. Also, they will serve a wide range of customers for your pre-owned car which is not possible at your personal level.

• Advertisement

Pay proper attention to your advertisement while incorporating every element that portrays the best picture of your pre-owned car. Include images from different angles along with maximum information on its present condition. But, that does not mean that you can exaggerate its condition. It gives a bad impression and this way you will never be able to dispose your pre-owned car.  

• Repair

If you think that spending some amount of money can result in realising more value for the used car, then it is a wiser option to get it done. That will also ensure quick disposal of your pre-owned car.  

Shriram Automall India Limited (SAMIL) caters to the used cars segment of automobile industry through its well-structured and transparent bidding platforms. While incorporating allied services in its offerings, the company makes the experience of its customers extremely beneficial.

“At SAMIL, every association is structured on the bedrock of transparency and utmost commitment. Through a wide variety of used vehicles and equipment, we aspire to serve every dream of our customers.” – Mr. Sameer Malhotra, CEO of SAMIL

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