Car insurance and finance are the two key elements of the Indian car industry. In the present day, many buyers find the used car market very lucrative and so the insurance and finance of second hand cars.
Insurance is mandatory for all cars running on Indian roads and almost 90% of the car buyers take finance to ease financial burden to a certain extent. So, when it comes to buying a car, the first thing that comes to picture is finance and then is the insurance.
Car insurance is attributed to factors like model, make, cubic capacity, type of engine, estimated cost of premium accessories, and power of the engine. When it comes to buying a used car, almost 75% of the value is insured by the insurance companies. This drastically reduces the insurance premium.
Today in the market, all the certified used car dealers like Toyota U Trust, Hyundai Advantage, Honda Auto Terrace, and Mahindra First Choice have tie-ups with the insurance companies and agents to provide a hassle free insurance service to all the buyers. Even the agents and other companies dealing into used cars have tie-ups with insurance companies. Read the rest of this entry »
