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A quick overview of used car financing

In such times, having a car of your own gives you the sense of safety while not affecting your commuting needs. However, a need-driven purchase does not mean you have to compromise on your dream car. The second-hand car market is booming and the used car finance options will spoil you for choices. In this article, we talk about 5 popular used car financing options.

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A quick overview of used car financing

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  1. A quick overview of used car financing

  2. Factors to consider before taking a used car loan

  3. Credit score Poor credit score reduces your loan approval chances.

  4. Car's condition and manufacturing year Get the car's interior and exterior checked. Check the car's age before buying it.

  5. Odometer and fuel type Check the car's odometer to see how much it has travelled. Check if the car engine is petrol or diesel. Petrol engine cars have a longer lifespan, while diesel engine cars have higher market value.

  6. Different ways of financing a used car

  7. Zero down payment used car loan Get 100% financing for your used car without making any upfront payment.

  8. Personal loan Purchase a used car with a personal loan. Stable income and good credit history required for obtaining a personal loan.

  9. Hire purchase Get a hire purchase secured loan by making a 10% down payment. The loan is available for a maximum tenure of 5 years. Skipping 3 EMI in a row can result in the seizure of your used car.

  10. Obtaining a used car loan is simple. Just follow the steps outlined above.

  11. Thanks! Would Love to hear from you. Hero Fincorp Limited 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel : 18001024145 Email : corporate@herofincorp.com Website : https://www.herofincorp.com/ Know More : A quick overview of used car financing

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