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Cars have become an integral part of the Indian household. In buying a car, the decisions involved extend well beyond the make and model, the looks, or even the mileage or performance. While new cars come with their own charms, old cars or used cars are ruling the roost these days. This has increased the demand for used car loans by manifolds. Wish to apply for a used car loan in Kanpur? Hear from Bhumi Finance about anything and everything you need to know about used car loans. Get, set, and read!
 

Why should you apply for a used car loan?

Old car finance in Kanpur extended by Bhumi Finance has a lot to offer to the applicant including:

• Save money with a second-hand car on EMI!

The cost of a used car will be lower than that of a new car which means the cost of insurance will also reduce. 

• A used car depreciates pretty slowly.

A used car depreciates slowly since someone else (the owner of the first-hand model of this car) survives the entire depreciative hit.

• Drive without any strain or stress.

Getting a scratch or worse, a dent on your newly bought car can lead to heartache. However, if a used car gets damaged, then it isn’t that big a cause to worry about. 

• Repay with flexible terms and conditions.

In a used commercial vehicle loan in Kanpur, the borrowing amount will be lower and the repayment terms will be flexible. 

• Longer repayment tenure.

The repayment tenure for such a loan can span up to 60 months.
While the advantages of a used car loan are many, the loan amount will only be about 80% of the value of the car. So, the rest of it has to be covered in a down payment. In addition to that, the interest rate here will be higher as compared to that of new car finance in Kanpur. So, the EMI burden will also be higher for you. But with a lucrative lender, these disadvantages can be filled for very easily. 

Get a used car loan from India’s leading lenders - Bhumi Finance

Since its very inception, Bhumi Finance has been offering lucrative used car loans so that thousands of people can get behind the wheels of their dream cars. Wondering why? Well, here are the perks of opting for a used car loan in Kanpur from us:

• The down payments charged are pretty decent.

At Bhumi Finance, down payments are decently charged unlike some used car loan bank in Kanpur for whom paying a high down payment lets lenders know that you are financially sound and capable of repaying the loan.

• Low CIBIL score? We got you!

One of the most vital aspects banks and financial institutions consider before approving your loan and determining the interest rates is your credit score. The credit score is an indicator of your ability to repay the loan. If you have a bad repayment history, lenders will increase the interest rates but that’s not the case with Bhumi Finance. Here, the interest rate is negotiable. 

• Get a short repayment tenure. 

While a longer tenure comes with lower EMIs and interest rates, you will end up paying more interest to your car loan agent in Kanpur. It is because the total interest payable continues to increase with time. The interest rates for a shorter tenure are high, but the overall amount you pay for the car will be low. This is what Bhumi FInance does.

Wish to get a used car loan? Reach out to us now at https://bhumifinance.com/.