Used Car Loan
Used Car Loan
What is a Used Car Loan?
A car loan allows a consumer to buy the car without spending a lot of money upfront. Car loans are low interest, secured loans with short tenures. The tenure may range anywhere from 1 to 5 years, depending on the loan amount and the repayment ability of the customer. The financer generally secures the car loan by hypothecating the car.
Eligibility for Used Car Loan
|
Minimum and Maximum Age |
21 years – 65 years |
|
Loan Amount |
maximum loan upto Rs. 1 crore (It depend upon the value of the car and EMI you van pay |
|
Net Monthly Income |
Minimum Rs. 18,000 per month |
|
Employment Type |
Available for salaried, self employed and businessmen (Rate of intrest range from 9.25 % to 20.00% ) |
|
Minimum Work Experience |
Salaried: a minimum of 1 year of total work experience |
|
Self Employed: business existence of minimum 5 years ( Last 2 year ITR must) |
Get Quote