10 Used Cars Under 2 Lakh in Mumbai

Are you looking for the best second-hand cars in Mumbai for sale below 2 Lakh? Here, we have listed some of the best options available. 

Once you finalise, you can fund up to 75% of the car’s cost with used car finance from Hero FinCorp and get your hands on the best choice in the market. 

List of Used Cars Under 2 Lakh in Mumbai

Here is a list of second-hand cars in Mumbai under 2 Lakh down payments. Compare their specifications and choose one according to your requirements and budget:

1. Maruti Alto LX BSIII

This is the top model in the Maruti Alto lineup. It is a great family car that is fun to drive in terms of trust, comfort, and fuel economy.

2. Hyundai i20 Era 1.2

This is the base model in the Hyundai i20 lineup, delivering incredible engine performance and average running speed. Are you looking for the best 2nd hand cars in Mumbai under 2 Lakh? Hyundai i20 Era 1.2 is the best option available.

3. Chevrolet Spark 1.0 LS

The top model in the Chevrolet Spark lineup is equipped with a 4-cylinder MPFI engine that delivers good fuel economy and performance with best-in-class looks and interiors.

Also, Read: Best Used Cars Under 2 Lakh in India

4. Hyundai i10 Magna 1.2

The top model in the i10 lineup, Magna 1.2, delivers a top speed of 165 kmph, making it the best vehicle for daily commutes. Equipped with an 1197 cc 4-cylinder petrol engine, it provides an outright performance and balanced ride.

5. Honda City GXi

The top model in the City ZX lineup has an ultra-smooth engine with minimal maintenance needs and high operational performance.

6. Maruti Suzuki Alto LXi CNG

Top model in the Alto 800 lineup, this car delivers excellent performance and mileage, making it one of the most cost-efficient cars in Mumbai.

7. Maruti Suzuki Estilo LXi CNG BS-IV

At the pinnacle of the Estilo lineup, this hatchback promises a seamless driving experience, offering not just a bump-free ride but also delivering impressive performance on the road.

8. Maruti Suzuki Wagon R LXi Minor

Maruti Suzuki Wagon R LXi Minor is equipped with a 1061 cc, 4-cylinder inline engine, delivering impressive mileage and smooth performance.

9. Maruti Suzuki Estilo VXi

Are you looking for a modern car with superb proportions? This is a conventional hatchback with chic looks and extraordinary performance features.

Also, Read: 10 Used Cng & Automatic Cars Under 2 Lakhs in India 2023

10. Hyundai Santro GLS

Hyundai Santro GLS is equipped with comfort-oriented features like an air conditioner, heater, ample leg room, and internally adjustable rear-view mirrors.

How Used Car Loan Helpful to Buy Second Hand Cars in Mumbai?

• Financial Assistance: Not everyone has the full amount needed to buy a car upfront. A used car loan helps bridge the gap, allowing you to afford the vehicle by paying in installments.
• Affordability: Used cars are generally cheaper than new ones, but they still require a significant upfront cost. A loan spreads this cost over a period, making it more manageable for your budget.
• Flexible Repayment Options: You can often choose the repayment tenure based on your financial situation.
• Reduced Depreciation Impact: Used cars have already undergone significant depreciation, so the value doesn't drop as sharply compared to new cars.

Also, Read: 7 Used Cars Under 1 Lakhs in India 2023: Top Picks

Apply Used Car Loan to Finance Your Car in Mumbai

Have you selected the best used car under 2 Lakh down payment in Mumbai? Follow these steps to apply for used car finance from Hero FinCorp:

• Visit the Hero FinCorp website.
• Reach the used car loan section and click on ‘Apply Now’.
• Enter a few personal details about yourself and your contact details.
• Agree to the terms and conditions.
• Enter an OTP you receive on your registered mobile number.
• A customer representative will get in touch to discuss further requirements.

Conclusion

As the capital of Maharashtra, Mumbai is a bustling metropolitan city with a diverse economy and large population, significantly increasing the demand for second-hand cars in Mumbai for sale below 2 Lakh down payments. Recognising your aspirations, Hero FinCorp offers used car finance to help you with your dream of owning a good quality pre-owned car. 

With a streamlined application process, you can apply for a Used Car Loan from the comfort of your home and purchase your desired vehicle at a fraction of the cost. Based on your eligibility, you can get up to a Rs 50 lakh loan at an attractive interest rate starting at 13.5% with a flexible repayment tenure of up to 60 months.

Frequently Asked Questions

1. Where can I find used cars within this budget in Mumbai?

You can contact a second-hand car owner or approach a used car dealer in Mumbai to get a car within this budget.

2. How do I ensure the used car is in good condition?

Inspect the car mechanically and physically and take it for a test drive to ensure the used car is in good condition.

3. What is the typical interest rate for a used car loan in Mumbai?

Your used car interest rates depend on your eligibility, income, DTI ratio, repayment capacity, credit history, and other crucial parameters.

4. How much down payment do I need for a used car loan?

Lending institutions like Hero FinCorp finance as much as 175% of the used car purchase. However, the higher the down payment you make, the lower your debt burden and the easier it will be for the EMIs.

Disclaimer: The information provided in this blog post is intended for informational purposes only. The content is based on research and opinions available at the time of writing. While we strive to ensure accuracy, we do not claim to be exhaustive or definitive. Readers are advised to independently verify any details mentioned here, such as specifications, features, and availability, before making any purchasing decisions. Hero FinCorp does not take responsibility for any discrepancies, inaccuracies, or changes that may occur after the publication of this blog. The choice to rely on the information presented herein is at the reader's discretion, and we recommend consulting official sources and experts for the most up-to-date and accurate information about the featured products.