Toyota Fortuner is a big beast that portrays class and luxury for the owners. It is one of the top luxury cars in India, ranging from Rs 33 to 51 Lakh. If you plan to buy a Fortuner but lack funds, consider buying a used car from an owner or dealership. If you are low on budget, you can find a second-hand Fortuner under 10 Lakh with some research. That means you can own and flaunt your dream car without paying its total price. Here is a complete guide on buying a used Fortuner under 10 Lakhs.
Importance of Buying a Second-Hand Car
Purchasing a second-hand car is extremely important for your finances and affordability. Firstly, buying used cars under 10,00,000 lets you own a vehicle at a fraction of its original cost. If you buy only a one-year-old car, you can get it at 20% less price. Further, you can buy a better variant of the same car without paying extra. While reputed lending institutions like Hero FinCorp finance up to 175% of the used car's cost, you may need to borrow a smaller amount if you buy a second-hand car. The insurance premiums are also cheaper for used cars. Authorised dealerships give warranty on the repair of pre-owned vehicles, making them a win-win situation in all aspects.
Benefits of Purchasing a Fortuner Under 10 Lakh
The used car market has witnessed a sudden boom in car sales, including Fortuner. Let’s see the benefits of buying a second-hand Fortuner under 10 Lakh.
Money Saving
While Toyota has launched several variants of Fortuner cars in India, not everyone can afford one. Buying a used car helps you save money by owning your desired vehicle without paying its actual price.
Appropriate for First-Time Car Buyers
Buying a used car is suitable for first-time buyers looking for a premium car like Fortuner at an affordable price. They can buy an affordable used car and learn to drive it without putting a new vehicle at risk.
Better Variants
Prices of different Fortuner variants vary greatly. You can buy your desired variant without paying its actual price. Moreover, you can buy a better variant within your budget.
Reduced Financial Stress
Purchasing a used Fortuner car under 10 Lakh means borrowing a smaller loan amount. This helps save you from unnecessary financial stress.
Lower Insurance Costs
As the car gets older, its insurance premiums become smaller, helping you save more money over time.
Factors to Consider Before Buying a Second-Hand Fortuner
Buying a second-hand Fortuner under 10 Lakh is much easier as the used car market has become more organised. Here are a few factors to consider for a more confident purchase:
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Make, model, and variant
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Actual market price of the same model’s new vehicle
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Size and your space requirement
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Repair and service history
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Modifications done in the car
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Vehicle history for any accidents, major repairs, bodywork, etc.
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Overall physical and mechanical condition of the car
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Body, wheel wells, and under-body
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Condition of the interiors
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Paperwork and registration
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Transfer of ownership
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Warranty and insurance
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History of ownership
Points to Consider While Buying a Second-Hand Fortuner
Have you decided to purchase a second-hand Fortuner under 10 Lakh? Here are a few points to keep in mind before closing the deal:
Researching the Market
You will find various options in the used car market with varying features, variants, and prices. You can buy a pre-owned Fortuner from a direct seller or an authorised dealer. Research the market and pick the best option most suitable to your requirements and budget.
Understanding Fortuner Models and Variants
Toyota Fortuner has seven models and variants with varying specifications and configurations. These include 4X2, 4X2 Diesel, 4X2 AT, 4X4 Diesel, 4X2 Diesel AT, 4X4 Diesel AT, and GR S 4X4 Diesel AT. The better specifications you seek, the more you will need to pay. So, understand your requirements carefully before making the final choice to get the best mileage car under 10 Lakhs.
Evaluating the Condition of a Second-Hand Fortuner
Don't buy a Fortuner car under 10 Lakh based on its face value only. Apart from the physical condition of interiors and exteriors, evaluate its mechanical condition as well. Go for a test drive and check its brakes, transmission, gears, acceleration, and other performance features to make an informed decision.
Negotiating the Price
You may find the same variant of Fortuner at different rates in various places. The seller will try to get the maximum price of their used car. You must compare the price and negotiate it with the seller to get the best deal.
Financing Options for Second-Hand Fortuners
Apart from funding second-hand car purchases with your savings, you can get used car loans from Hero FinCorp, offering Loan to Value of up to 175% of second-hand car loan. With this, you can finance not only its purchase but also the required repairs and upgradation. You can use a second-hand car EMI calculator to calculate your loan EMIs applying.
Legal and Documentation Procedures
Look at the car’s original receipts, invoice and other documents to see if it has met with any accidents, how many times it has been sold and purchased, etc. Check the vehicle’s chassis and engine number against the RC. Also, check its service book to ensure timely service by the previous owners.
Insurance for Second-Hand Vehicles
You will need insurance before buying a used Fortuner car under 10 Lakh. It is necessary before driving the car and closing the deal. So, ensure that insurance is in order. After purchasing the car, calculate the insurance premiums you will need to pay in the future.
Maintenance and Servicing
The physical and mechanical condition of the car largely depends on how its previous owners have maintained it. So, check its service book to ensure it has received its service dates on time and has no pending services or repair suggestions.
Warranty and After-Sales Support
Look for a used car dealer that gives a warranty on its second-hand cars. Nowadays, you can find leading car companies' pre-owned car showrooms offering certified used cars with a one-year warranty and other benefits, just like a new car.
Tips for a Smooth Buying Process
Before finalising the deal for a used Fortuner under 10 Lakhs, ensure test driving of the car to check its suspension, engine performance, braking system, etc. Look for signs of significant accidents or repairs that must have affected the vehicle's mechanical health. Check the car's paperwork and ensure it is complete and satisfactory. Moreover, ensure it suits your purpose with the desired features and specifications. Buying from an authorised dealer gives a sense of security. Finally, apply for a used car loan from a reliable lender like Hero FinCorp to get the required funds to own your dream car without exhausting your savings.
Conclusion
Although buying a second-hand Fortuner under 10 Lakh needs a lot of research and careful decision-making, you can make an informed purchase with the help of this guide. Regarding finances, get a used car loan from Hero FinCorp and finance up to 175% of the car’s cost without hassle.
Frequently Asked Questions
1. What is the cheapest rate for Fortuner?
Although the price differs based on the car's condition, make and model, the cheapest rate is around Rs 10 Lakh.
2. Is it worth buying an old Fortuner?
Yes, buying a used Fortuner is worth it, as it helps save money and lets you own your desired variant at a fraction of its actual cost.
3. What is the high mileage of Fortuner?
The mileage of a Toyota Fortuner ranges from 10 for petrol variants to 14.4 kmpl for diesel variants.
4. Is it safe to buy a used Fortuner?
To ensure safety, take a test drive of the used Fortuner to evaluate its condition and check its brakes, gears, engine health, etc.
5. Why is second-hand Fortuner so expensive?
Fortuner is a luxury vehicle that ranges from Rs 33 to 51 Lakh. Moreover, it is in high demand due to its popularity and class. That is why second-hand Fortuner is so expensive.
