What if you want to own a second hand vehicle but
don’t have enough money, so what are your options? Simple you look out for
various vehicle finance companies for your vehicle, but do you have sufficient
information about second hand vehicle 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 vehicle segment of India today. Most of new
drivers prefer to opt for pre-owned vehicles before investing huge money in new
one. Though, acquiring financial help for used vehicles is nothing less than headache
at present. There are 2 factors that play a vital role in pre-owned vehicle
loans and they are vehicles age & the model. In India, people availing pre-owned
vehicle financing options have to pay 3% more than the amount they are required
to pay for latest vehicles. And, lastly, there is more chance that you may not
get the complete value of the vehicle as loan.
As per norms, used vehicle loan is
granted only when age of the vehicle 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
Today you have enormous options
available in market for you to choose from among the second-hand vehicles. And
along with the vehicle many options of organised service providers are also
available. These service providers source the vehicles, & put them up for
sale.
Moreover most of the banks &
NBFCs are at ease while financing a vehicle through an organised service
provider because of the due vehicleeful checks done by them, 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 also provides assistance in
getting instant loan from STFC on used vehicles & other equipment. Having a
large inventory of Used Vehicles and equipment, 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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