As more and more people rely on a personal vehicle for their daily commute and travel, used car sales are witnessing a steep rise. Stats from Financial Express indicate that post-lockdown booking and inquiry numbers for used cars scaled over 115%.
Moreover, a wide range of cars is available as good as the new ones. So, whether you dig into your savings or plan to avail of a used car loan to buy a second-hand car, you would be spoiled for choice! To simplify things for you, here is a list of the best options out there from which you can choose an ideal used car under 5 lakhs in 2021.
This seven-seater Multi-Purpose Vehicle (MPV) is one of the best-selling cars in India. Known for its reliable diesel engine, the Toyota Innova feels very sturdy to drive. It offers decent mileage and minimal maintenance. It’s hard not to spot a moving Innova on Indian roads. As a result, its spares are readily available everywhere.
Its features comprise AC, airbags, ABS, modifiable infotainment system, power windows and steering, rear AC vents, etc. Besides, Toyota Innova has spacious interiors with comfortable headroom and legroom. You can easily get a well-maintained Innova for under 5 lakhs.
Chevrolet Optra SR-V
Launched in 2006, the Chevrolet Optra SR-V has a 1.6-litre engine capable of 140 Nm of torque along with 101 hp of power. It was one of the best performance cars at the time but was discontinued in 2010. However, you can get your hands on a pre-owned model to experience its power.
The Optra SR-V has a McPherson strut suspension system at the rear and the front with dual links. With a unique design and powerful engine, it is an excellent hatchback available at very modest prices.
Mahindra XUV 500
The Mahindra XUV 500 is a robust 7-seater car with an eye-catching design. This spacious Sports Utility Vehicle (SUV) stormed the market after its launch in 2011. XUV 500 is also packed with an abundance of features, including Dynamic Running Lights (DRLs), alloy wheels, mobile connectivity, power steering and windows, ABS, cruise control, ABS, AC, infotainment system and more.
With a loan from a trusted lender at affordable used car loan interest rates, you can purchase this model easily.
Under 5 lakhs, you can get a 5th or 4th generation-Hyundai Verna in a reliable working condition. This premium sedan comes in diesel and petrol variants with various features. Spacious interiors and luxurious design make it a fantastic choice.
If you are looking for financing through a loan, check your used car loan eligibility beforehand for hassle-free processing.
Today, you can get certified used cars with a warranty with ease at reasonable prices. The above-listed vehicles are ideal for meeting your mobility needs in 2021. Plus, all of the amazing features in just under 5 lakhs! A used car loan can easily cover your upfront expenses; moreover, you can plan your purchase in advance with a used car loan calculator.