Yesterday marked the start of the 4-day ‘Auto Expo 2018’, Delhi. This biennial event is the world’s second largest motor show in the world and the largest in Asia. Every 2 years, car and bike enthusiasts look forward to the release and showcase of new car or bike variants from manufacturers all around the world.
Day-2 of the Auto Expo 2018 would saw the release of the new Maruti Suzuki Swift 2018. It was the most anticipated vehicle at the Auto Expo 2018, and unveiled in its new 3rd generation avatar. The new swift will be available in 6 colours, 12 variants, AMT transmission on mid variants, and enhanced safety features such as standard dual airbags and ABS.
Now, all this is great. A new car is released at the Auto Expo 2018 with better features, more pricing and enhanced looks. But what about the 1st generation or 2nd generation models of the Maruti Suzuki Swift? There will be many of us who will find the new ‘Swift 2018’ to be appealing, and look for ways to sell the older swift. Chances are that some would sell their Swift that was bought in 2017, just to get their hands on the new and improved 3rd generation ‘Swift 2018’. This actually could be a blessing in disguise for people who do not want to go for a brand-new car but are actually okay with purchasing a second hand car. Let’s look at the advantages of second-hand cars.
Advantages of Second-hand Cars
A brand-new car is cool but you need shell out quite a lot to get it. A second-hand car comes with its own set of advantages compared to a brand-new one. Let’s look at some.
With a second-hand car, you will get a wide variety of choices at a single dealer. You can get used models for Maruti Suzuki, Hyundai, Mahindra, etc. – all at one place and can then choose the one that suits you. Sometimes an older model, which is not in production anymore, could be your personal favorite. So, you can get your dream car only as a second-hand option.
No Added Charges
For a brand-new car, you will not just be paying for the manufacturer’s price but also the added charges such as GST, processing fee, preparation fee, shipping charges, and advertising fee. These can easily add up to thousands of rupees more which you can happily avoid by going for a used car. You maintain an upper-hand while searching in the market to purchase a second-hand car.
We all love the scent that emanates from a new car. The immaculate upholstery, 0 kms travelled, even sans any fingernail scratches on the outside, etc. is something we love. But it does not come cheap. The price gap between a used and a new car is huge. You will also argue that the interest rates on new cars are less, but the one-time amount you pay (inclusive of a new paint job, top-up of engine oil, coolant, complete interior & exterior wash, and more) goes easy on your budget. A personal loan can further reduce the average monthly spend.
If it is the paint getting chipped-off on gravel, the tyres getting punctured or some other driver goes-off with the car mirrors from the opposite side, you don’t feel too much of a heartache for a second-hand car. That is why it is suggested you learn driving with a second-hand car because the strain on your pockets is less.
New cars lose a portion of their value immediately. The moment a new car is bought it is not new anymore and will be sold as a second-hand. New car owners go through a plethora of emotions when the new car starts acquiring wear & tear going over Mumbai’s potholes or Goa’s beachside terrain. In the first year since purchase, new cars lose as much as 40% of their value. For a second-hand car, however, there is much less depreciation. You will lose less money over comparatively longer time and will avoid the hit the first owner took.
No need to scratch your head here, the annual insurance premium for a second-hand car towards accidental damage is cheaper. The value of a second-hand car is already depreciated which means you pay a lower premium than what you would pay for a swanky new car.
Many websites offer information on second-hand cars to make it easier for you to choose your car from home. Similar to how Loan Singh has removed the hassles that exist in the processes of traditional lending institutions, there are websites that help you search for used cars by selecting the dealer close to you, and also provide plenty of details regarding the used cars such as price, availability, manufacturing year, etc. You can also read user experiences which can help you make a better decision.
Gone are the days when a second-hand car emanated a sense of abysmal quality or lack of decent conditioning. The sooty scent, rusting interiors, unkempt cushions, worn-out tires, kilometers driven, etc. are no more a problem. Dealers ensure that the used vehicles are re-worked and re-painted. They also provide free servicing for the first 6 months.
Second-hand Car Personal Loan
Nowadays, it is not a big deal to own a second-hand car. You have the income, you know how to drive, and you need the convenience. But, purchasing a brand-new car does not always go easy on your budget. You could be a novice at driving and won’t mind the bumps, scratches and dents while becoming more proficient. For such reasons, a second-hand car is a great choice.
Imagine passing by a used-car sales center and your eyes fall on this cool car which you would love to buy but you lack the funds needed. Good conditioned used cars don’t remain unsold for too long. That is why you need to get quick funds to buy a second-hand car. As you are not going for a new car, you easily dodge the hassles of a secured vehicle loan.
So, the best option left for you to get quick funds is Loan Singh. Firstly, Loan Singh is a digital lending platform that allows borrowers to apply for a personal loan with only PAN details, Aadhaar and 6-months bank statement. Loan Singh involves no paperwork and provides an online process for loan application. You apply for a loan via Loan Singh’s website and get the personal loan disbursed in to your account within 48 hours.
Swift processing – At Loan Singh, everything from application to disbursement happens online. With only Aadhaar, PAN and Bank statement/netbanking credentials, you can apply for a personal loan and pay for your emergency requirements.
No collateral – Having no collateral requirement gives a personal loan an advantage over a secured loan. Even if you do not own any assets, you can at least get funds from Loan Singh.
Multiple purposes – A personal loan can be availed for a number of purposes such as purchase of household appliances, electronic gadgets, purchase of gold, holiday travel, home improvement, job relocation, medical expenses, home renovation, purchase of second hand vehicles, marriage, etc.
Loan amount and tenure – The loan amount for a personal loan at Loan Singh can range from Rs.50,000- Rs.5,00,000. The repayment is done via EMIs, with interest rates on a reducing balance method. The personal loan tenure can be from 3 to 36 months.
Loan Singh Application Process
The process to get an easy and quick loan with Loan Singh is mentioned below:
Get started page – Select ‘PERSONAL LOAN’ from the dropdown and enter the loan amount with the desired repayment tenure.
Registration page – Add your contact number, personal email ID, and corporate email ID
Profile page – Fill in your name, gender, Father’s name, number of dependents, and PAN details. We use your PAN Card Number to check your Credit Score.
Address page – Choose your type of residence, and mention your street address, city, state and pin code.
Job profile page – Mention your current designation, total work experience, company name, highest qualification, last institution attended, and monthly salary.
Financials page – Upload your latest 6 months bank statement (in PDF format) either from your computer, GMail account or directly link your net-banking account. Our net-banking partner is ISO 27001 (2013 standard) certified & provides services to established banks, as well.
Auto debit page – Provide permissions to your bank name, account number, and IFSC code so that Loan Singh can auto debit the EMI amount from your account every month. This way you don’t need to set reminders or miss out on any loan EMI payments.
Loan Singh is a digital lending platform that prides in providing unsecured online personal loans to salaried individuals. You can apply for quick funds as an easy emergency loan which is not a bank loan, but like banks we provide best personal loan interest rates. The instant funds or instant loans can be taken for purposes such as home improvement, house repair, marriage/wedding, medical emergency, second-hand car, second-hand bike, vacation/travel and more. You can calculate your easy EMIs using our personal loan EMI calculator. We require bank statement, PAN and Aadhaar for quick loan approval. Bad credit score or credit report errors can lead to personal loan rejection. The ‘Loan Singh Blog’ is one of the best finance blogs in India.
BONUS (Day-1 Highlights from Auto Expo 2018)
- Maruti Suzuki unveiled the Future S Concept
- Honda launched the Activa 5G
- Hero unveiled the XPulse 200
- Honda launched the new Honda Amaze
- Hero also launched Duet 125 and Maestro Edge 125
- Mahindra went big with 4 releases – G4 Rexton, two electric vehicles, and a concept convertible SUV (named Stinger)
- Toyota came out with the Toyota Yaris
- SML Isuzu launches the Samrat GS Tipper along with 2 other trucks
- Renault unveiled the Trezor Electric Car
- KIA unveiled the SP Concept car