Second Hand Cars Market In India

A used car can be much cheaper than its new counterpart. The depreciation is lesser and car financing too can be obtained easily. A survey was conducted and it was revealed that the demand for the used car market in India per year is 1.4 million cars. Isn’t that surprising?

Unfortunately, only 10 per cent of the Indian used car market is organized. The remaining 90 per cent remains unorganized. Out of this unorganized segment, 30 per cent belongs to the automobile vendors and the remaining 60 per cent transactions are usually carried out directly by the used car buyer and customer. Most of the time, the two parties know each other. Such transactions happen in large numbers but within the law limits of India.

Car buyers, however, need to be aware that such transactions can be risky. In a country like India used automobile buyers get cheated very often. The pricing, maintenance claims and clear ownership records can all be made up. Mechanics who test the used car and middlemen who carry out the deal can manipulate a decision. First timers who have no clear idea of the condition of used cars usually available in the used car market are fooled very easily. The good-for-nothing old automobile fetches a good price.

Second hand car dealers, very often, use fake parts to offer an attractive price. The used car dealers get 5-10 per cent commission by settling the deal through low-quality parts. The new old automobile is therefore prone to repairs every now and then. However, this is not always true. The second-hand Indian market also consists of sellers who sell off their well-maintained cars in order to upgrade to bigger cars.

A pre-owned automobile may not come with warranties, OEM parts, insurance and taxes and this is exactly where auto makers have endeavored to bring in a system of checks and balances. The second hand market in India today has certified used car outlets screened by car makers. For the automobile seller, the certified used car outlet gives the best market price, thorough evaluation by experts, and an option to choose any other automobile from the manufacturer range. For buyers, such outlets offer a lot more. They get a warranty on the used automobile, insurance, repairs that use OEM parts and thorough checkups by trained technicians.

Some of the well known certified used car dealers in the Indian market are Maruti TrueValue, Honda Auto Terrace, Ford Assured, Toyota U Trust, Hyundai Advantage, Mahindra and Mahindra’s First Choice. Many more are yet to come to India. The branded used car chains are slowly realizing the potential of the used car market.

Industry experts expect 50 per cent of the used cars sales to be brought under organized car market over a period of 3 years. Used car outlets will probably spread into II tier cities by 2012. Car makers have realized that the used car market can generate very high revenues. Top car players say that their used car ventures are paying handsome dividends. Hence the companies are now making it mandatory for their dealers to run used car outlets too.

The branded used car outlets have now started buying and selling off second hand cars from multiple brands. By offering a one-stop shop for all customer queries, the outlets can win over customer loyalty. They provide assistance in not just buying and selling, but in financing, insurance and many other services too.

After Hard Times A Bankruptcy Car Loan Can Be Your Best Ally

After hard times, a bankruptcy car loan can be your best ally. The quickest way to rebuild your credit score is by committing to an auto loan and making the payments in a responsible way.

A bankruptcy car loan can be the key factor in that fresh new start toward rebuilding your credit. In this article we will talk about the best way to use a car loan after bankruptcy as an answer to establishing your new financial future.

Use the Internet to find local auto dealers or an auto consultant, if you don’t know of any, who will offer you special financing for a bankruptcy car loan. Not all dealers offer this service.

Visit a couple of these special financing dealerships and determine if it feels like a good fit for you. By asking a few questions you will get a feel of the type of people you will be working with. You want to work with someone who listens to you and helps you meet your needs and wants.

One source that most people don’t think about for special financing is to look for an auto consultant that offers these services. Usually an auto consultant (not an auto salesman) is more willing to work with you and will listen to you instead of just trying to sell you a car today.

Bankruptcy can be emotionally tough on anyone. The dealership should treat you will compassion and understanding. They should appear eager and willing to help you just as they would help someone with a perfect credit score. Finding a special financing dealership that treats you with dignity will help give you peace of mind that they will get you the best deal possible.

Next, decide on a used car that suits your family’s needs. Look for a car that has lower mileage and has been safety inspected and has a good history report. Take the car for a drive and see how it feels to you.

Before signing on the dotted line you want to make sure you can make the monthly payments easily each month. Take a look at your monthly income and be sure you have enough money every month for the payment, insurance and maintenance on the car.

Once you are confident that the bankruptcy car loan will work with the rest of your monthly bills, you are ready to sign the papers and move forward with your purchase.

As you drive your new used car off the parking lot know that getting a bankruptcy car loan is the greatest step you can take to rebuilding your financial future. Be sure and make all your payments on time, as this is one of the quickest ways to help rebuild your credit.

Trouble Free Students Car Loans

Are You COllege Going Students Looking for First Auto Loans?

An additional common issue with students is they generally do not have good credit ratings or a long credit score, and if they do, the ratings are not good enough to get them the obligatory finances to get their vehicle. Number of loan providers and car dealers do offer first time car buyer student car loans, however it is always difficult to avail new car loans, as creditors demand sure criterion to be satisfied prior to they in fact fund the auto requirements. Nevertheless, availing the car loan could turn to be relatively simple if proper details are obtained first hand, and the applicant gets ready for the car finance in a structured manner. The following pointers could assist you availing your vehicle loan.

Finding the Right Vehicle

It is significant to make a decision for your vehicle prior to you plan for finance. Once the car is chosen, one gets an idea regarding its cost and how much the insurance need to be paid. We suggest you for opt vehicle that is reasonably priced. Students often dream of owning sports models and SUV’s that normally cost more, and are tough to pay for on a limited budget. Going in for reasonable priced range cars would be a good idea as it becomes simple to repay the loan. An additional alternative worth thinking about is used car loans. Pre-owned cars or second hand cost considerably less and are simply afforded. The main benefit of financing a used car it is possible to get a good worth car in a sensibly good condition at a lower rate. Used car lots provide various attractive alternatives in terms of sedans as well as SUVs.

Walking in At Right Auto Loan Provider

Number of creditors and loan providers provide car loans and used auto loan for students. We suggest you to look for a lender who could finance your commutation requirements with an affordable rate of interest. Few lenders need a co-signer or a guarantor if the cost of the car is more or in case the student has no or bad credit score. The best place to look out for lenders providing car loans is going online and the list of loan providers who focus in student loans. Various alternatives are available, and you’re likely to get creditor who provides good repayment terms and conditions, along with attractive rates of interest. Once you decide on your lender, you might be required to fill up an application form and some essential details concerning your contact number, address, employment information, and credit score. It is suitable to apply with many creditors so you obtain various options to choose from. The rate of interest, terms and conditions along with the repayment amount could be negotiated to gain further advantage from the loan. Few lenders specialize in bad credit student loans, so if you do not have a suitable FICO score, it is still possible to finance your car.