Here is How Used Car Loan Can Make Your Life Easier

Posted by Mohit Rawat on January 5th, 2020

Getting a car is a purchase that can extract a major part from your finances. So you might think of buying a second hand car. A used car in good condition will cost you around Rs. 2 lakh to Rs. 5 lakhs. Now this is a huge amount that will be spent at one time. You will think about spending your savings, but you will also have the option of a used car loan. Used cars loan have gained more attention due to their reach. They let you manage your finances well and get a car home faster than a traditional car loan.

Here's how taking a used car loan can make your life easier.

Bring your car home immediately

You do not have to wait for years to save and then finally buy a car. When you take a second hand car loan, you can take your car home immediately.

No dependence on your payment

You can take a used car loan anytime. You do not have to wait for your salary at the end of the month to buy a car.

Use your savings for other emergencies / purposes.

When you take a pre-owned car loan, your savings are not affected. You can use these savings for other purposes such as paying your child's school or college fees, planning a good family vacation, renovating your home, etc. If there is a medical emergency, your savings equip you with immediate funds.

Muthoot Capital helps you in every way while availing a used car loan. Our used car loans are unsecured personal loans. Therefore we do not ask you to keep your car with us as collateral until you repay the loan. Our used car loan interest rate is competitive and does not bounce along with your finances. We have simplified the process of obtaining a loan. You can visit our website or download our app and apply for the loan online. But you can avail used car loan with us for the amount. There is minimal documentation and loan approval and disbursement took place in minutes. You can also take a loan for more than the cost of the car and can incur additional expenses such as baggage, security additions, insurance, etc.