Used Car Loan
Whenever you are looking to buy a used or a second-hand car, you either buy it through cash or take credit for it. When you take credit for buying an old or a used vehicle, it is called a Used Car Loan. One generally takes up a loan when he is low on finance, so it further adds up the advantage of saving finance and buying a car that does not burn one’s pockets.
There are certain conditions of taking up finance on the used cars like the car should not be very old. Also, the older the car is, the harder it is to get finance on it.
Salient Features
- Instant disbursal of loan
- 24/7 Online Loan
- Negligible Paperwork
- Lowest Interest Rates & EMI;
- Longest Repayment Tenure (7 years);
- Financing on ‘On-Road price’:
- On-Road price includes Registration, Insurance and Extended Warranty/ Total Service Package/ Annual Maintenance Contract/ Cost of Accessories.
- Interest calculated on Daily Reducing Balance;
- For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs.
- Financing Upto 90% of ‘On-road Price’
- No Advance EMI
- Optional SBI Life Insurance cover available
Used Car Loan Eligibility
In order to in order to apply for a used car loan, you must meet the below listed used car loan eligibility criteria:
- You should be a Citizen of India.
- You should be at least 21 years of age.
- You should be a salaried professional or self-employed.
If you fulfil the above used car loan requirements, you are eligible to obtain a used car loan with Bankvala.com . Once you ensure that you are eligible for a used car loan, we suggest looking up used car loan interest rates and our used car loan EMI calculator, to help you plan your loan repayments.
Here’s how you can apply for an instant Used Car Loan Online with bankvala.com
1
Fill the Form
On our website and fill the required form.
2
Add Loan Amount
Enter your loan amount.
3
PAN Cards & Address Proof Details
Enter your Pan Card and Address Proof details, which are the documents required for used car loan approval
4
Approval & Loan Disbursal
After approval, get money in your bank account instantly