The festive season in India is slowly shifting towards the next juncture – Dhanteras, followed by Diwali or Deepavali. As Dhanteras is related to the purchase of gold and precious ornaments, Diwali marks the perfect time to purchase gifts for loved ones, embark on a travel trip with family, purchase the latest smartphone or get a vehicle for yourself.
In today’s post we will look a scenario or featurette that will focus on a salaried individual who wants to buy his ‘first car’. For anonymity we call him ‘Vishal’. Vishal is a salaried professional and knows that he can only afford a used car, because he is a new driver and wants to learn city driving in India with a used car. With Diwali around the corner, he chooses this festive period to be auspicious for making such a grand purchase & hence, applied for a personal loan at Loan Singh.
“It was a long kept dream…a 4 wheeler used car”
Vishal is not alone in having his dream of owning a 4 wheeler fulfilled. There are many of you out there who are yearning to yank that engine and drive through the roads of through your destiny. This is the perfect time to do it. A brand new car might seem like a long shot now; but, why not get a used car?
Before we tell you how to get a personal finance loan to purchase your favorite used or second-hand car, lets first look at the benefits of purchasing a used car.
4 Benefits of a Used Car
Getting a second-hand car, this Diwali, is a superb decision. Not only are car sellers pampering prospective buyers with offers and discounts, they can also offer a variety of options to choose from.
We all love the scent that emanates from a new car. The immaculate upholstery, 0 kms traveled, 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 may 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 and exterior wash, and more) goes easy on your budget. A personal loan can make the average monthly spend further lower.
New cars immediately lose a portion of their value immediately. The moment a new car is bought, it does not remain new and will be sold as a second-hand. New car owners go through a plethora of emotions when the new car starts acquiring wear and tear while 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, slowly and will avoid the hit the first owner took.
No need to scratch your head here, the insurance premium you pay per year 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.
If it is the paint getting chipped-off on gravel, the tyres start getting punctured or some other driver goes off with your mirrors from the opposite side, you don’t feel too much of heartache for a second-hand car. That is why it is suggested you learn driving a second-hand car because the strain on your pockets is less.
Applying For a Used Car Loan
Vishal is salaried and knows that there is no better auspicious time to buy a second-hand car. Loan Singh’s easy process and quick disbursement allowed him to get the personal loan he needed. You too can get a used car loan this Diwali. The easiest way to do is via Loan Singh.
If you are just married and need to populate your new home with home appliances or buy new clothes; you might be looking for a funding solution that will help you spend on the required commodities. A personal loan from Loan Singh can get you sorted with that. The same also applies to a used car loan, a used bike loan, travel loan, medical loan, home improvement loan or a festival shopping loan.
If you are earning enough then there is nothing to worry when applying for a personal loan, which can be termed as a consumer durable loan, if you want to go in for the best of electronics. Shopping loan is another financial opportunity that is not offered to everyone. Being salaried for at least 6 months, with no credit blemishes, are the traits of someone who can avail a personal finance loan in India.
So what makes a personal loan stand out compared to credit cards or borrowing from a ‘langotya yaar’. What you need to understand is that a personal loan is a credit instrument that is different compared to a credit card loan or borrowing from a friend. We, at Loan Singh, want you to upgrade your aspirations and your lifestyle. There is no harm in upgrading your gadgetry or dressing sense. You are salaried and need to look your best. A whole new range of smartphones is being released with awesome features each year. World famous designers have their designs being sold online in India. Summer wear and spring collection are now being made affordable and easy. So, why not join the winds of change. Loan Singh’s finance blog tells you about everything related to unsecured personal loans in India.
Personal Loan Benefits in India
Loan Singh’s hassle-free process and quick approval personal loans are perfect for salaried individuals like you who are too busy to even get a rest. The attractive EMIs and interest rates at Loan Singh, make personal loans affordable to repay back. Add luxury to your mundane lives without putting too much strain on your finances. Your dreams are our dreams. We help turn your dreams into reality. Brand new appliances and electronic products are also needed in case you are relocating due to your job. The job relocation personal loan at Loan Singh helps cover exactly this.
Loan Singh’s easy EMI calculator can help you understand how much you need to pay in order to clear your consumer durable loan. The calculator only needs your intending loan amount and tenure for telling you how much you need to pay each month. A personal loan can be availed between Rs. 50,000 and Rs. 10 Lakhs.
Another huge benefit you have with a Loan Singh online personal loan is that you have the freedom to choose where you want to spend your loan amount on. You can apply for a shopping loan and utilize the cash to spend on an Amazon, some on Flipkart or some on Snapdeal. Unlike so many ecommerce websites that let you gain discounts for possessing a debit card or points of a particular finance provider, Loan Singh’s personal loan can be utilized to be spent on the website you want and on the product you want to spend on.
About Loan Singh
Loan Singh is a digital lending platform that prides in providing online personal finance loan or unsecured personal loan to salaried individuals. You can apply for quick funds as an easy emergency loan which is not a bank loan. We provide a loan with the best personal loan interest rates. The instant funds, or instant loans, are loans between Rs. 50,000 and Rs.10,00,000 taken for purposes such as:
- Home improvement loan/Home renovation loan
- Marriage loan/ Wedding loan
- Medical loan
- Used vehicle loan
- Consumer durable loan
- Vacation loan
- Debt consolidation loan
- Credit card refinancing loan
- Job relocation loan
- Smartphone loan
- Travel loan
- Festival loans
- Gold jewelry loan
- Shopping loan
- Lifestyle loan
- Short term loans
You can calculate your easy EMIs using our personal loan EMI calculator. We accept bank statement and PAN, for quick loan approval. A bad credit score or credit report errors can lead to personal loan rejection. The ‘Loan Singh Finance Blog’ is one of the best finance blogs in India. Loan Singh is a product of Seynse Technologies Pvt Ltd and is a partner to the Airtel Online Store.
Loan Singh’s Online Presence
Loan Singh is not an anonymous digital platform. We are present on almost all leading social media platforms. All you need to do is look for us. You can find us on Loan Singh Facebook, Loan Singh Twitter, Loan Singh Google+, Loan Singh YouTube, Loan Singh Pinterest, Loan Singh Instagram, Loan Singh LinkedIn, Loan Singh Blogarama, Loan Singh Google Business, Loan Singh Medium, Loan Singh Reddit, Loan Singh Tumblr, Loan Singh Scoop It, Loan Singh Storify, Loan Singh Digg and Loan Singh Blogger.