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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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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How to buy a pre-owned car from Shriram Automall?

Indian streets are filled with the footprints of several people who aspire to have a car of their own. With money being a big constraint, they often hesitate to purchase their dream car due to the risk of getting acquainted to unreliable trade practices. Keeping those millions of dreams in mind, Shriram Automall introduced a unique bidding platform from where people can acquire a pre-owned car of their own choice. The Company has established numerous well-structured Automalls, across the nation, where regular bidding events are organised. After a quick registration formality, anyone can participate in these bidding events and get a wide variety of pre-owned cars to choose from. Take a look at steps of participation in a physical bidding event of SAMIL.

1. Visit any of your nearest Shriram Automall and fill registration form at the registration counter.

2.    Collect your bidder book and submit an RSD amount of Rs. 20,000. The bidder book contains necessary information on all the pre-owned cars and other vehicles available for disposal in that particular bidding event.

3.   Make your choice from a wide variety of pre-owned cars available for disposal.

4.  Then physically inspect all your chosen options in the parking area. A Samilian will assist you in making the correct decision through his expert opinion. 

5.   After inspection, visit inside the bidding hall to participate in the bidding event.

6.    Bid on your chosen pre-owned car when it walks the ramp.

7.    To win your dream car, make sure that you become the highest bidder.

“Physical bidding is a new concept in India and has earned immense prominence in a short span of time. In order to attract Indians and their dreams, we have made it an extremely exciting and trustworthy platform through which people can acquire and dispose a wide variety of pre-owned vehicles and equipment.” – Mr. Sameer Malhotra, CEO of SAMIL

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Tip of the Day – How to hunt for a quality used car?

Indians always prefer a drive on quality cars that suits their pocket. With budget being a major constraint with them, their dreams often restrict to a small aspiration and fail to meet the reality. But, sometimes dreams do become affordable and make way for their entry in a dreamer’s life. This happens when pre-owned cars come into the picture and the hunt begins for a quality used car. So, let’s take a look at a tip of the day that will help you get a better used car to drive.   

Get in touch with a source that you trust the most.

Buying a used car can be a risky drive of your life. It’s not necessary that you’ll always get a good option. At times, you may also get worst option packed with the best of marketing tools. The deal will sound lucrative but you may end up getting caught in a trap. So, always look for a source that you can trust the most.   

You can also visit your nearest Shriram Automall, a one-stop marketplace for pre-owned cars and other types of used vehicles and equipment. The Company conducts exciting bidding events every month from where people can acquire and dispose their used vehicles. 

“At Shriram Automall, we ensure complete transparency in our bidding events to facilitate value-for-money transactions. We have multiple bidding platforms, physical, online, private treaty and one stop classified kiosk to offer holistic solutions in the exchange of pre-owned cars.” – Mr. Sameer Malhotra, CEO, SAMIL

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Used car market on fast track in Indore

Used Car Market

The organised used car market in the city is booming, thanks to affordable prices and availability of a wide range of vehicles at authorised dealer showrooms.

Dealers say that the organised used car market in the city, which has evolved over the past few years, is growing at 20% year-on-year. Some car manufacturers, including Maruti Suzuki and Mahindra, run used car showrooms in the city. 

They not only sell used vehicles but also buy them and give the consumers the benefit of exchanging their old car for another one.

"The entire process is streamlined so that customers do not have to go through the hassles of finding the right buyer for their vehicle,” an executive of Maruti ‘True Value’ showroom told HT.

“Also, when it comes to buying a used vehicle, consumers are assured that they will be getting a vehicle that has undergone a rigorous check on all the parameters including performance and safety,” said the executive who requested anonymity.

Read more at: http://www.hindustantimes.com/india-news/indore/used-car-market-on-fast-track-in-indore/article1-1291218.aspx

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Benefits of a Used Car Online

November fared well for Automobile Industry

What Makes Used Cars in India a Smarter Choice?

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What Makes Used Cars in India a Smarter Choice?

Almost, everyone on earth dream to own a brand new car. With innovation transforming the facet of car industry every day, the desire to own a new car keeps on becoming stronger. There is hardly any person who would want to pick a pre-owned car in comparison to a new car. But when money comes into the picture, the scenario changes a little. Since, new cars are expensive when compared with the used cars; many people tend to change their preference. So, here I share the benefits of picking a used car over new one in order to make it a smarter choice.

·         Benefit of avoiding value depreciation

When you purchase a used car, you buy it on a depreciated price only. But in case of a brand new car, you must expect a 30% of depreciation within the first 2 years of purchase itself. The resale value of a new car is much less in comparison to its purchase value.  

·         Certified used cars’ condition is just like new cars

There are various authorised dealers who serve certified used cars. This certification makes sure that the vehicle has not undergone any major damage in past. Also, these cars are extensively and thoroughly inspected by the professionals.

·         Affordability Factor

Last but not the least reason is their affordability factor. Used cars are any day easy on pockets than the new cars.

Shriram Automall India Limited (SAMIL) serves a wide range of used cars in India. As a pioneer in providing structured bidding platforms for the trade of pre-owned vehicles and equipment, the company has made a substantial mark in the automobile industry.

“While constructing a roof of innovation over every operation, we have created a plethora of services for our customers. Under our Auto division, a wide range of pre-owned cars are acquired and disposed through our regular bidding events across India, both online and physical events.” – Mr. Sameer Malhotra, CEO of SAMIL  

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Remarkable growth of used cars in India

The market is booming at a significant pace. While discovering an opportunity in the same segment, Shriram Automall India Limited (SAMIL) facilitates the trade of used cars in India. Through its transparent and organised bidding platforms, including Physical Bidding, Online Bidding, Private Treaty and One Stop Classified, SAMIL brings the buyers and sellers together from around the country.

Its recent initiative, Auto, is exclusively dedicated to used cars in India. Various manufacturers and their dealers, like TATA, GM, TOYOTA, have been associated with the company to dispose their exchanged, trade-in cars, unregistered, demo and display cars. While taking these associations further, SAMIL has conducted several physical bidding events in different locations, such as Mysore, Mangalore, Bengaluru, Delhi, Hubli, Coimbatore, Tamil Nadu, Calicut, Vijayawada, Raipur and Nagpur. The success ratio of these events is justified by its aggressive marketing strategies that go into the execution process. Through innovative promotional activities, it attracts a wide range of audience in its events. Keeping the aspirations of target audience in mind, every communication is designed effectively to mainly attract the end-users of used cars in India. By scheduling these exclusive events only on the weekends, the company enhances the footfall to a great extent.

As a result, its every event becomes immensely prominent amongst potential buyers. Apart from physical bidding, SAMIL ensures maximum certainty of sales through its other bidding platforms. While offering a wide range of pre-owned vehicles and equipment, SAMIL’s bidding platforms have been adopted by almost every brand in the automobile industry. The online bidding platform of SAMIL serves as the most easy and instant platform in terms of market reach. With every minor detail about inventories available, this platform helps masses in striking the most-suited deal for them. Through its private treaty platform, SAMIL bridges the gap between buyers and sellers in terms of negotiations. 

Its one stop classified is a virtual platform with exhaustive information on available inventories. Through a user-friendly interface, this platform scores high in terms of usage. Ruling the aspirations of youth, cars will continue to be a substantial part of automobile industry. 

To maintain status, youth always go for the premium brands in automobile industry. But these desires lose all hopes when money comes into the picture. This scenario has contributed immensely in grasping demand for used cars in India from that segment of the society and SAMIL is going to serve that demand with its growing steps towards pre-owned cars market in India. On the grounds of fairness and transparency, it boasts of more than 100 bidding locations inclusive of 31 well-structured Automalls and aims at 60 Automalls in 2014. Mr. Sameer Malhotra.

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