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Do I get any advantage if I buy a pre used car from a certified seller rather than from the grey market in terms of a loan?

Posted by : Premraj | Posted on : Tuesday, May 31, 2016

Buying New Car and Save Extra Bucks
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Everybody doesn’t want to buy a brand new car. After all, with reliability of cars increasing manifold in last few years, it makes sense to consider a used car if one wants to save some money on purchasing vehicles.

This is the reason why many people are seriously considering buying used car these days. In India, there are two ways to buy used vehicles. First is to approach the owner of the car directly. This is the most popular way of purchasing used cars currently. The second is a more reliable approach and is to buy the car from a certified seller/dealer.

One of the biggest benefit of taking the second route is the assurance of quality.

Most major car companies in India have set up separate shops to sell their own pre-used vehicles. Moreover, authorized dealers offer warranties on the used cars they sell, which adds to the value that the used cars bring.

Another benefit of buying through certified seller is that you get a reliable after-sales service when needed. This advantage is not there in case you buy directly from the owner or from the grey market through agents. Apart from these advantages, there are some financial advantages too.

These sellers use their associations with lenders/banks to help speed up the loan approval process. Since they have already carried out all quality checks, banks are assured of the quality of the asset in question, i.e. used car. The dealers might themselves help you get better interest rates on used car loans because of the their association with banks. This can mean savings of thousands of rupees over the entire loan tenure.

These are some of the reasons why it is recommended to purchase used cars through certified sellers and not through unreliable grey markets.

 

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