A used car is that vehicle which is being sold for the second or the third time. The pre-owned car market in India is booming and the ratio of new cars to used cars is 1:2.2, which means that for every 50 new cars sold, 110 cars come into the market for sale. The annual volume in the pre-owned market is estimated to be 3 million units, which is 40% more than new car sales.Lenders say that there has been 15-20% rise in the used car loans as well. If you are also planning to buy a second hand car, here are a few things that you need to focus on. There are some reasons for the growth in used car market such as reducing ownership periods, better availability of platforms for buying and selling of used cars, change in perception, ownership of more than one car and ease in the availability of finance. We have discussed what things you should consider while " Applying a Used Car Loan " . INTEREST RATE: Getting the best interest rates for your used car loan is not easy....