Opting for a used car loan is a wise decision as it gives you the option to upgrade to a better model, based on your choice. Buying a car through a used car loan makes it easier for you to own your dream car, without straining your finances. Used car loans have to be paid over a period of time through installments, along with a certain rate of interest.
Tata Capital offers second-hand car loans at a competitive interest rate. Besides, the financial arm of Tata Group also offers 90% of the car’s valuation, thus making borrowing a viable option. Generally, there are three types of cars that can be financed through a Tata Capital used car loan.
- Hatchbacks
A Hatchback is a car that has a rear door that opens upwards to provide access to the luggage area. The Indian car market has witnessed a growing demand for this particular four-wheeler segment. There are also a variety of choices available in the market, making it easy for you to choose the best one based on your needs. The hatchbacks available in the market now also come with an affordable price tag. Among the many hatchbacks in India, the top five are Maruti Suzuki Baleno, Hyundai Grand i10, Mahindra KUV100, Maruti Suzuki Swift, and Tata Tiago.
- SUVs
SUVs stand for Sports Utility Vehicles. This category consists of big cars which are able to accommodate around 5 to 7 people and are specifically designed for rough terrains. SUVs have witnessed a remarkable growth in terms of sales over the last few years. With enhanced models joining this segment of cars, people have begun to prefer this type of cars because of not only their unique features but also reasonable prices. These cars are available at the same price as a C-segment sedan. The top SUVs preferred by buyers are Maruti Suzuki Vitara Brezza, Hyundai Creta, Ford EcoSport, Renault Duster Facelift, and Mahindra Scorpio.
- Sedans
Sedans are cars with an extended boot. These cars are longer than hatchbacks. The popularity of sedans is increasing tremendously these days because of their availability in numerous sizes, which include the compact sedan, mid-size sedan, and much more. The sedan segment also offers more choices at a flexible price range. The best sedans in India include Maruti Swift Dzire, Honda Amaze, Hyundai Xcent, Tata Zest, Ford Figo Aspire, and Volkswagen Ameo.
With such wide offerings, you may now own your dream car with the help of a Tata Capital used car loan. This financial institution offers transparent interest rates, along with other benefits like lower down payment and varied EMI payment plans. You may also fast-track your loan process if you have a good credit score. With a lender that supports your desire to buy your dream car, purchasing a second-hand car should be nothing less than a cakewalk.
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