WHY SHOULD START-UPS CHOOSE TO BUY
PRE-OWNED COMMERCIAL VEHICLES?
Introduction
India has quite a flourishing start-up scene. The growth of the e-commerce sector in India has also provided a boost to associated and aligned businesses. Many commercial logistics operators, ecommerce brands, delivery companies, and more have cropped up in the nation. These companies commonly need commercial vehicles like container trucks and delivery vans to do business. But these vehicles do not come cheap, and can especially be affordable for start-ups with limited resources. Choosing to buy used commercial vehicles instead of new one would be a smart move for such companies. Some of the top advantages of buying used commercial vehicles have been underlined in the following slides.
Lower Initial Upfront Costs
Buying brand-new vans or trucks can be immensely expensive. Fortunately, pre-owned commercial vehicles command a far lower price than their new counterparts. Hence, they are invariably more affordable for start-ups. They use the money saved in the vehicle purchase process by investing properly in areas like marketing, development, and hiring, in order to grow their business. As a business starts to fare well, you may always sell off your pre-owned fleet and get new commercial vehicles.
Guard Against a Rapid Depreciation
Many businesses prefer pre-owned vehicles due to how rapidly new vehicles depreciate. For a start-up that strives to improve its valuation, a pre-owned commercial vehicle can provide a guard against drastic depreciation rates.
Easier to Get a Loan
Due to the lower purchase price of used commercial vehicles, it is comparatively easy to get a loan for them, as opposed to new, expensive vehicles.
Getting a Loan
There are a number of banks and non-banking financial companies (NBFCs) in India that offer loans for used commercial vehicles. They provide funding for up to 90% of the value of the asset and give you the option to select loan tenure for up to 60 months. Used commercial vehicle loan interest rates and other details can be found online.
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