Cars are no longer a luxury. They have become necessary, especially after the COVID-19 pandemic when public transportation is risky. Everyone cannot afford to buy a new car. This is an important reason for the growth of the Indian pre-owned vehicle market.
Here are five used cars you can buy for under INR 2 lakhs:
- Swift Dzire
It is an entry-level sedan and is a popular family vehicle. The car offers good legroom and headroom and is reliable with excellent mileage.
- Hyundai i10
This model has been one of the best-sellers since its launch in 2007. The hatchback is popular among women and learners because of the ease of handling and superior driving experience.
- Honda City
Since its launch in 1998, the City has been the best-selling model for Honda. This family car offers adequate headroom and legroom for five passengers and best-in-class boot space.
- Skoda Rapid
It is a sub-compact sedan exclusively available in India since 2011. Similar to the Vento, the Rapid is packed with features like airbags, power-steering, tilt-steering, and power windows, among highlights.
- Toyota Etios
The Etios is an entry-level sedan available in diesel and petrol variants. The car is popular due to its ease of handling and fuel-efficiency.
When you are searching for a second-hand car, you can check online portals. With several company-based pre-owned vehicle dealers, the choice is limitless. Working with a reliable dealer makes the entire process of buying a second-hand car quick and easy. Additionally, the dealer can help you avail of the most beneficial used car loan.
While applying for a loan, you need to check if the non-banking financial company:
- Offers funding for different models manufactured by various companies
- Requires minimal
- Ensures a hassle-free process
- Provides competitive used car interest rates
- Has versatile repayment options with customization based on your financial situation
- Offers a higher amount; this generally depends on your income and the condition and age of the pre-owned car
- Charges lower processing fees and other used car loan rates at the time of application
- Levies a penalty on pre-payment
You can also use an online calculator to determine the approximate amount of the equated monthly installment. You can visit the Mahindra Finance website to know more about this facility and check your used car loan eligibility.