Having a car has become a necessity these days. With the pandemic putting a stop to public transport for many months and emphasizing the importance of social distancing, many people have felt the need to own a car in recent times. Moreover, attractive, used car loan interest rates have further lured customers and made it possible for them to own a vehicle of their choice.
But despite so many used car options in the market, it is the small car that comes out as the clear winner in most cases. Small cars are a critical cog of the used car market for various reasons, such as:
- Traffic friendly: A small car can be suitable for all types of places. Big city roads are overloaded with traffic to small-town narrow lanes filled with rickshaws and vendors; small cars can fit most places without hassles. It is easy to drive them or find a suitable parking space for them. This makes driving less stressful for the driver and results in fewer dents, scratches, and accidents, thus increasing the car’s life.
- Fuel-efficient: While one can always get a used car loan to purchase a car, the after costs like fuel end up draining the money. Small cars are more fuel-efficient than big vehicles. Compact cars are lighter in weight which helps them maintain a good mileage. This further reduces the overall costs of owning the vehicle, and buyers get a good mileage even with a second-hand car.
- User-friendly: Most second-hand car buyers are also first-time car buyers. Small used cars can be ideal for such drivers as they might still be learning how to drive. A small car is compact, simple to maneuver, and offers great fuel efficiency. All these things can be great for first-time car purchasers.
- Affordable pricing: One of the major reasons people opt for a used car is the low price. Small cars further serve this purpose, and they can be bought at an affordable price compared to SUVs and sedans. Small cars cost less than big cars and make it easy to avail of a used car loan. In fact, a small second-hand car can be purchased at an approximate starting price of Rs. 2 lakhs only.
- Great space: Despite their small size, compact cars offer plenty of space. These cars can accommodate up to five adults and provide ample boot space for luggage. This makes them apt for day-to-day city driving as well as long road trips and vacations.
To sum it up
A small second-hand car can be a perfect companion for most people. Moreover, in this segment, there are so many options that car owners do not have to compromise on style for comfort anymore.
Use a used car loan EMI calculator to find out the right loan amount and tenure, and go ahead and buy a car!