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 vehicles 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. 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-ownedcar 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.

You May Also Read : Used Vehicle Financing Made Easy 

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).

See Also : What To Look Out For While Buying A Pre - Owned Car

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 Used Cars 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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BRINGING THE AUTOMALL NEAR OUR CUSTOMERS

When a person thinks of buying a used vehicle in India the first name that comes into the mind is of Shriram Automall, this is how the company has created its place in the society. In a small time of just 5 years SAMIL has emerged as the single largest and most trusted platform for exchange of used vehicle & equipments in the most trusted manner.

Started with the Chennai Automall in 2011 the company recently inaugurated its 63^rd Automall in Dhule, West Zone. While SAMIL has managed to reach from all metro cities to remotest corners of the country, the plan now is to bring the Automall’s near our customers in the less remaining cities.

By 2020 the company visions to reach the benchmark figure of 75 well structured Automall’s all across the nation. Here are the locations that will have an Automall, have a look and locate the nearest one:

·         Saharanpur

·         Aligarh

·         Agra

·         Lucknow

·         Akola

·         Nasik

·         Pune

·         Ratnagiri

·         Coimbatore

You may also read : Rising Sales For Used Vehicles Festive Season's Ample Contribution To Thank

With all these Automall setup the company aims to increase its market share in the organized sector dedicated for exchange of used vehicles & equipment.

‘At SAMIL we want to reach to every single customer in India who wishes to buy a used vehicle or equipment and even provide them the means in term of outstanding inventory and option to get the vehicle financed easily’. Sameer Malhotra, CEO SAMIL

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ONESTOP CLASSIFIED KIOSK AT SHRIRAM AUTOMALL

Providing customer with a myriad of options to meet his needs at single place is how the Shriram Automalls’ Kiosks Work. OneStop Kiosk is one such unique technology owned by Shriram Automall for its customer convenience. It is basically a standalone unit through which customers can look for the vehicles they want. It can be easily managed by the users, to get the desired results and informative interface makes these kiosks an instant attraction. Highly interactive, a kiosk does not need any management interference but customer support for the ease in transactions. Hassle free services provided by SAMIL, has made us the pioneer in used vehicles & equipment industry, making it the only such company to provide unique platforms for transactions.

Not only this, but SAMIL provides the customers with another unique bidding platforms. Customers can acquire or dispose off, cars, construction equipments, commercial and non commercial vehicles easily with SAMIL. Physical as well as online bidding platforms provided by SAMIL enable the customers to own the vehicle of their choice easily. At SAMIL, we connect with people and help them to move forward by providing them with our unique services.

SAMIL’s OneStop Kiosks provides a single platform from where they can easily look for the vehicle of their choice from our virtual inventory of over 10,000+ vehicles. Our virtual inventory is always updated with the vehicles that are available with the company and provides a wide choice of variety to the buyers to choose from. Since its inception in 2011, SAMIL’s main aim has been to provide the customers with the exclusive features, so as to connect with customers to help them realize their dreams.

We have marked our presence with OneStop Intranet Kiosks at more than 400 locations that are easily accessible to our prospective buyers. Ease in decision making process with Intranet Kiosks, gives buyers the wonderful experience which makes them loyal to us.

You May Also Read : 4 Reasons Why One Stop Puts A Full Stop To Your Vehicle Search

Logging in to www.samil.in, you can find the one stop service information on the website.

·         A bidder can check out the inventory list at one stop classified kiosk with the assistance of SAMIL’s executives at an Automall. Using the Kiosk is a very easy task which makes customers preferring the Intranet Kiosks over other options.

·         Once the bidder decides to acquire a pre-owned vehicle through the Kiosk, he/she can get the registration done by filling up a registration form paying Rs. 100 as registration fees.

·         Post registration, the customer is given a User ID and Password. That helps him/her to access the Kiosk and further inspect the vehicle in detail. Inspection of vehicle provides customer with detailed information about the vehicle.

·         After inspection, a buyer can get in touch with the Automall Manager for further assistance. Automall managers assist the customer at every step to make their journey successful with SAMIL.

If  you are looking to purchase or dispose any kind of used vehicles in India, simply submit your requirement and get a call back from Shriram Automall to assist you further.

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