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Tips for Buying Pre-owned Luxury Cars in India

Pre-owned Luxury Cars in India
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Many luxury car brands offer certified pre-owned (CPO) cars in India for sale. Owning a luxury brand symbolises prestige in India, and therefore it is many people’s dream. However, luxury cars imported in India slap a hefty import duty payable by the buyer.

By the financial year 2025, organised platforms are expected to contribute about 45% to India’s total pre-owned car market. This signals that the demand for used cars is strong, mainly from India’s Tier 2, Tier 3 cities and rural markets.

Important brands like Mercedes Benz, Jaguar, Landrover, Audi, and BMW market their CPO luxury cars in India. And quite frankly, they offer strong values to many: The warranty period on most used luxury cars is two years—a year short of the typical three years of a new car’s warranty.

Are you planning to buy a CPO luxury car? Then, you can take a used car loan to finance the purchase of the car of your dreams.

10 Tips for Buying Pre-Owned Luxury Cars in India that You Cannot Miss

Some of the essential tips while purchasing a pre-owned luxury car in India are as follows:

  1. Check all the car receipts–including registration, insurance, tax and service records, are adequately maintained.
  2. Luxury cars have several intricate parts, including sensors, intricate wires and controllers. Therefore, careful pre-purchase inspection by a trained professional is a must.
  3. The central command interface integrated with the central console must be thoroughly inspected and ensure that all Bluetooth connections work fine.
  4. The battery is the key part of any car, and a poorly performing battery will result in impaired functions. You certainly don’t want flickering lights or other malfunctioning features in your dream car.
  5. Check the car for any defects on the surface, especially body dents, underbody corrosion and paint quality, among others.
  6. Thoroughly check the exhaust pipe, exhaust sound, air filters and engine sound.
  7. Check the condition of the tires, their authenticity and wheel alignment.
  8. Make sure that the car you are buying is certified. Many luxury brands have their pre-owned car web portals.
  9. Even though the capital cost of a pre-owned luxury car is not so high, the maintenance parts for the luxury car will be high because of the superior quality. Therefore, the depreciation rates on these cars will also be correspondingly high.
  10.  Checking the car’s history and taking it for a test drive is an absolute must.

Attractive Financing Options You Can Avail for Buying Pre-Owned Luxury Cars

Many financiers offer attractive financing options if you wish to purchase a pre-owned luxury car. Here are some instances:

Used Car Loan Eligibility Criteria and Documentation Required

Following are some criteria that you must substantiate via documents to avail of used car loans:

Now you can pursue your dream of owning a pre-owned luxury car with these tips. Look at used car financing options that offer quick approvals, easy financing options, flexible repayment schedules and interest rates that fit your pocket.

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