USED CAR LOAN
Want to get loan on your existing car value? Want the best interest rate and flexible EMI repayment options? Then apply online for used car loan in India.
What is Used Car Loan?
Used Car Loan is a smart, value-for-money purchase. This loan can be availed for a wide collection of cars. Apply for used car loan online to avail flexible EMI repayment options, and quick disbursal of loans. A Used Car Loan helps you procure an otherwise costly item that in mint condition would have cost you a lot higher than its current “pre-owned” state. The Used Car Loan allows people with lower budgets to elevate themselves to the status of car owners.
Advantages of choosing a Used Car Loan
- Loans up to 95% of asset value
- Flexible repayment terms up to 60 months i.e. 5 years.
- Simple and easy documentation
- Quick disbursal and hassle-free process
- Competitive Interest Rates
- High loan amount
- Instant online approval once proper documentation and verification is done.
- Insurance costs of a pre-owned car are lesser compared to a new car.
- Free service and quality response
- Minimal processing fee
- Digital and free door step-service
- Affordable low installment EMIs.
Is Used Car Loan the best choice for me?
Apply Online for Used Car Loan in India if you want to own a car. The second-hand car will generally cost less than the new car. This loan is immensely pocketing friendly for customers. The used car loan offers a dimension of simplicity, transparency and hassle-free experience that makes you to choose it. And yes, Used Car Loan is a big gift to buyers as these have low interest rates.
Hence, the Used Car Loan let you drive home that particular car you have always desired for and you can easily apply online for used car loan in India.
Am I eligible for Used Car Loan?
In order to find out if you meet our Used Car Loan Eligibility, you have to fulfill few conditions after which we will process your loan application:
- One must be Salaried or a Self-employed professional over the age of 21 years
- Maximum age at the time of loan maturity should not be more than 65 years.
- Must be a salaried individual, self-employed person, a proprietorship or partnership firm, a public sector undertaking, a private company, person currently employed in the agriculture sector or dependent industries.
- Two years’ work experience with minimum 6 months with current employer.
- In order to qualify for an old car loan, and if the applicant is a salaried individual, the net annual income of the said applicant and/or co-applicant together should not be lesser than Rs.3,00,000.
- If the applicant is a self-employed individual, proprietorship or partnership firm, then the net profit or total taxable income of said applicant and/or co-applicant together should not be lesser than Rs.4,00,000* per annum.
- If the applicant is an agriculturist, the net annual income of the said applicant and/or co-applicant together should not be lesser than Rs.4, 00,000 per annum.
- The car you want to buy should be not older than 10 years.
What documents are required to apply for a Used Car Loan?
Below mentioned are the common documents which are required for applying online for Used Car Loan:
- Loan Application Form – Loan Application Form duly filled with 2 photographs.
- Photo Identity Proof – Copy of your Voter ID/Passport/ Driving License/ Aadhar Card/ PAN Card
- Address Proof – Copy of your Ration Card/ Electricity Bill/ Passport
- Income Proof – Copy of your Salary account bank statements for the last 3 months
- Salary Slips – Copy of your Salary Slips for the last 3 months
- Vehicle Registration Certificate – Copy of your Vehicle’s registration certificate
- Telephone/Mobile Connection – Copy of your telephone/mobile bill is required
Used Car Loan EMI Calculator
You can check your Pre-Owned Car Loan eligibility as well as you can check your EMI payable as per your budget online through Used Car Loan Calculator. It is simple to use and results are generated within a second. You get your Used Car Loan EMI as well as the complete chart for the entire tenure within no time at all.
banking customers, the lender offers special benefits.