Get Top Used Cars Under ₹4 Lakhs on a Loan in India

Buying a second-hand car under ₹4 lakhs is not a small step. A used car is ideal if you want to learn how to drive before you can get behind brand-new wheels. However, ₹4 lakhs is not a small amount you can pay a lump sum.  

Even if you have the funds available, you should spend them wisely and keep away some savings for rainy days. Today, you can not only choose from the wide range of used cars under ₹4 lakhs but also bring the ideal home with an instant loan. 

Best Pre-owned Cars in India Under a Budget

The first step to buying a car is to choose a model based on your preference. Here are some cars you can consider along with their features.

Hyundai GRAND i10

• It offers you powerful performance with a petrol + CNG engine and 37 fuel tank capacity, making it a convenient choice
• Its compact size and smooth handling make it a perfect mixture of style and performance
• It has a 5-speed manual transmission with a bi-fuel engine with 50.5 Kw power and you can buy in around the ₹4 lakh price tag

Apply for 4 lakh Personal Loan Online

Tata Tiago

• Comfortable interior and gorgeous looks make it a compelling option
• It has a perfect blend of affordability and state-of-the-art features
• You can buy it under ₹4 lakhs with a 35-litre fuel tank capacity

Volkswagen Polo

• With the security of Volkswagen, it is an excellent choice in terms of safety
• European engineering gives a premium build quality, boosting its performance
• It is an appealing and affordable choice under ₹4 lakhs with 18 kmpl mileage

Chevrolet Beat

• Its lucrative price makes it a budget-friendly option well under the ₹4 lakh tag
• It has a fun colour palette and offers a comfortable ride 

You can get great mileage with a 25.44 diesel and 17.8 petrol fuel tank capacity

Renault Kwid

• You can enjoy a unique SUV design at an affordable range as the starting price for this model is ₹4.69 lakhs
• Spacious interiors make it an attractive choice for families and perfect for long commutes
• You can also use it to travel in rough terrain as it has great ground clearance

Ford Figo

• The robust build and 5-speed manual transmission gives it an advantage
• It is an affordable option ranging at ₹3.3 lakhs 
• It gives an amazing fuel efficiency of 20.4 kmpl and has up to 42 litres fuel tank capacity

Note that the selling price of a used car is less than the original price, as it is a depreciating asset. You can choose from any other of these options depending on your budget and other requirements. However, a loan can be beneficial if you need help financing your purchase.  

Major Elements to Consider

When applying for an instant loan for a used car, ensure you do not miss out on the following:

• Comparing the interest rates and other related charges of a loan before signing on
• Calculating your monthly payable amount with an personal loan EMI calculator
• Comparing all the features like mileage, safety, performance and price to get a clear picture of the car you’re choosing 
• Reading the terms and conditions related to the loan before applying

Why to Apply for a Loan?

 Here are some ways a loan can make your experience smoother and stress-free. 

• You can easily apply online from the comfort of your home
• It takes minimum documents to apply online, making the process faster and easier 
• Many financial institutions offer full financing for used cars, allowing you to choose one according to your requirements
• You can pay the instalment across a flexible tenure 
• If you purchase a new car, its EMI may be higher in comparison to a loan for a used car
• You can choose financing from many banks and NBFCs, as per your eligibility 

If you are in need of instant funds to purchase a used car, the Fibe Personal Loan is an excellent choice. We offer loan up to ₹5 lakhs with nominal paperwork and affordable interest rates. Having no end-use restrictions, you can use the funds without giving any explanations. 

Enjoy a flexible tenure of up to 36 months with the option to preclose the loan without any penalties. Register on our website or download the Fibe App to acquire the funds you need to buy used cars under ₹4 lakhs in no time! 

FAQs on Loans for Used Cars

Which is the best family-use car?

There is a wide range of second-hand cars under ₹4 lakhs, offering you good mileage, stylish interiors and optimal space. These include the Swift Dzire and Renault Kwid. You can consider one of them by analysing your specific requirements.

Is it possible to find a used car with a specific fuel type under ₹4 lakhs in India?

Yes, it is possible to find a 2nd hand car under ₹4 lakhs with specific fuel requirements, be it petrol or diesel. Make sure to check the details beforehand to make an informed decision.

Are there any automatic used cars available for less than ₹4 lakhs in India?

Yes, plenty of options are available in the market to buy an automatic used car from the i10 to the Verna. Ensure the used car is also checked and tested before you buy it. 

Can I locate a used car under ₹4 lakhs in India with low mileage?

If you are looking for low mileage of under 75,000, you can find plenty of options in the market. Make sure you also check other features of the car to make the right decision.