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.

Read More

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.

Read More

Benefits of a Used Car Online

Today every individual works extremely hard to enhance his/her standard of living. And, a car is considered to be a substantial addition when an individual plans for the same. There are various people who prefer used cars online in comparison to a new one. It is a myth that used cars are not worth value for money. For people who have an extremely busy schedule and are also short of money, used cars online is the best option. In fact, online is a great medium for people who are tech-savvy. Let’s check out some benefits of buying a used car online.  

Easy Search

If you visit the online medium, you will notice that it is filled with immense options for used cars. All you have to do is type the model of your interest and there you will get various options to look at.

Saves Money

Another major benefit is money. When you purchase a used car online, you save a lot of your money. First of all, a used car is less expensive in comparison to a new car. Also, the search of a used car online involves no expenditure.   

Low Insurance Premiums

Everyone wants to cover their car with insurance in order to avoid the expenses that may arise due to a mishap. In case of a used car, the premium amount is low. Insurance on a brand new car is higher.  

Shriram Automall India Limited stands as a pioneer in giving well-structured and transparent bidding platforms for the trade of used vehicles and equipment. For a used car online, you can also visit www.samil.in and take a look at a wide variety of used cars.

“Through our online bidding platform, we aim at reaching a wide range of audience in order to enhance our arena of business. Besides this, our other bidding platforms, including physical bidding, one stop classified and private treaty, also make a substantial contribution in our success.” – Mr. Sameer Malhotra, CEO of SAMIL

Read More

Don’t think much, simply go for used cars!

When it’s about used cars, one cannot just depend on the first option for purchase. Obviously, a lot market research goes into the task in order to realise best out of the money. A better understanding of the vehicle and various other options available in the market helps in making a better decision which leaves no scope for regret in future. Never assume that if the car is not new that means you cannot expect good quality at a nominal price. In used cars category also, various options are available which can be relied upon for great performance.

Over the time, it has been observed that the used cars industry has grown at a fast pace. If you wish to crack best deal in this sector, it is mandatory for you to explore almost every outlet and develop a skill of negotiating over prices. But, always remember that even if a used car looks perfect in condition, that doesn’t mean it is not going to face any problem in future. We need to be extremely cautious while checking a used car’s condition. It is always wise to take help from an expert. He/she will be able to guide you properly.   

Always remember that purchasing a used car is at not all a bad option. In fact, used cars are the most attractive and reliable vehicles on road. Also, there are various options available in the market, which don’t look like an old car. So, always go for the used cars when budget is a constraint for you.   

Shriram Automall India Limited (SAMIL) offers a wide variety in used cars. For any brand in this segment, you can simply visit one of its Automalls or visit its website, www.samil.in

“With every passing day, we make consistent efforts in designing the most satisfying form of our offerings. In our wide range of used vehicles and equipment, used cars are an important part.” – Mr. Sameer Malhotra, CEO of SAMIL

Read more at: http://used-cars-india-samil.blogspot.in/2014/03/what-makes-used-cars-in-india-smarter.html

Read More

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  

Read More

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

Read More

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.

Read More