Want to buy a pre-owned car and looking for a loan? These are best options

A used car loan is expensive. Borrowers with a good credit score can get a personal loan cheaper

TThe pre-owned car market in India is 1.2 times of the new car business. That is, more used cars are sold than new cars every year. 

Despite this, only 36,500 pre-owned cars are financed monthly as compared to 190,000 new vehicles, according to Indian Blue Book – a vehicle pricing website by Mahindra First Choice Wheels.

The reason: While a new car only involves credit risk on the borrower, lending for a used car is more complicated. “A financier has to come up with its value of the car based on its age, model and kilometres clocked, and how the four-wheeler was