Do I get any advantage if I buy a pre used car from a certified seller rather than from the grey market in terms of a loan


#1

Do I get any advantage if I buy a pre used car from a certified seller rather than from the grey market in terms of a loan


#2

Yes there are many benefits of buying your second hand car from a certified pre used car seller. Most major automobile manufacturers have set up their own pre used car shops. The first advantage is you can be rest assured of the quality of your purchase. Although banks have their own in house yardsticks to come up with the current price of the car, their pricing is usually similar to what the pre certified car agency quotes. So you can hope to get your loan amount as per the car price and not something too low from what the car may have been priced you if you buy from the grey market.


#3

Hi Vichu,

Banks will be more willing to provide loans for cars purchased from certified sellers as the valuation of the car will be more reliable. There are banks that might even refuse to provide you with a loan if you get your car from the grey market. The interest rates might also be higher if you purchase your car from the grey market. So, choose your car carefully before applying for a Used Car Loan.

Cheers,
BB Expert