Used Car Loans
Apply your dream car.
Looking Used Car Loan ?
To get the best used car loan offer, it is important to do your research. Nowadays, with the advent of technology, the research has been made easy. All you need is a computer and a good internet connection to do your research. Visit a reliable third-party comparison website to compare the various used car loan offers across the top lenders and choose one with a low interest rate, zero processing fee, a suitable loan tenure, and flexible loan repayment options.
One can opt for new or used car loan depending upon the need and the kind of car requirement. Though, most people prefer a car loan over new cars and not the second hand ones.
Car loan option in India, for a majority, is an alternative that lets them purchase a car which is better than the one available in their budget since the car loan approval is quick.
Car loans in India generally provide a fixed rate of interest option while repayment through EMIs. This keeps you assured of a fixed repayable amount on a monthly basis towards the car loan, facilitating better budget planning without disturbing your usual expenses.
- Passport Size Photographs, generally 4-6 photos
- An identity proof which can be one of these documents- Passport, Pan Card, Driving License, Voters ID card, Aadhaar card or employee identity card in case of government employees
- Address Proof like Bank statement, Rent Agreement, Voters ID card, Ration card,
- Form 16 with proper computation of income
- Passport, Driving License, Telephone bill, Electricity or water Bills, Credit card bill or Property tax document
- Salary account bank statement for six months
- Latest acknowledged IT return
- The borrower should be salaried, self-employed, business owner or a professional
- They should be of Indian nationality residing in or outside India
- They should be at least 21 years old and not more than 65 years old
- Should meet the minimum repayment capacity or minimum salary requirements
- They must be in the current job for one year (salaried) or two years in the same business (self-employed or professional)