Used Car Loan Cochin
In today’s world, buying a car is a tough task as the prices of buying a car are touching the sky. Not many have the funds in their bank account to buy a used vehicle, let alone a brand new car.
The best possible solution to this problem is availing a Used Car Loan that offers monetary help to those who wish to buy a pre-owned vehicle.
Best Banks for a Used Car Loan in Cochin
| Banks/Rates | Get The Best Offers |
| HDFC Bank | Apply Now |
| Axis Bank | Apply Now |
| Canara Bank | Apply Now |
| Kotak Mahindra Bank | Apply Now |
| State Bank Group | Apply Now |
| Private Bank | Apply Now |
| Bank of India | Apply Now |
| Bank of Baroda | Apply Now |
Used Car Loan Cochin Features
- Loan Amount Avail of loans up to Rs.2.5 crore on a wide range of used cars.
- Car model should not be older than 5 years from the present time.
- Flexible Repayment Tenure – From 12 months to 84 months.
- Hassle free Car loans – no post dated cheques required.
- Finance up to 92% of the car’s value.
- Repay your Loan with easy EMIs.
- Loan approvals within 24 hours.
- Quick and easy Processing
Used Car Loan Cochin Interest Rates
| Banks/Rates | New Car Loan Interest Rate | Used Car Loan Interest Rate |
| HDFC Bank | 10.00% – 11.00% | 13.99% – 15.50% |
| Axis Bank | 10.25% – 11:25% | 14.50% to 16% |
| Canara Bank | 10.75% | N.A. |
| Kotak Mahindra Bank | 11.50% – 13.50% | 17% – 20% |
| State Bank Group | 10.50% | 17.05% to 17.30% |
| Private Bank | 10.50% to 11.75% | 16.50% to 18.00% |
| Bank of India | 10.50% to 13.50% | 13.50% to 14.50% |
| Bank of Baroda | 12.50% Fixed | N.A |
To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates
Documents Required for Used Car Loan Cochin
Documents required for car loan are as followed:
Salaried Individuals 
Any of the following documents as identity or address proof:
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- Valid Passport
- Permanent Driving license
- Voters ID Card
- Job card issued by NREGA
- Letter issued by the National Population Register containing details of name & address
All the following documents as proof of income:
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- Latest Salary Slip
- Latest Form 16/Latest ITR
- HDFC Bank corporate salary account statement for salary credits above Rs. 80,000 for the previous 3 months
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Eligibility to apply for a Pre-Owned Car Loan:
The car loan eligibility requirements are as followed:
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Salaried Individuals:
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- This includes doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state and local bodies
- Individuals who are a minimum of 21 years of age at the time of applying for the loan, and no older than 60 at the end of the loan tenure
- Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer
- Those who earn a minimum of Rs. 2,50,000 per year, including the income of the spouse
Self Employed Individuals (Sole Proprietorship):
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- This includes self-employed sole proprietors in the business of manufacturing, trading or services
- Individuals who are a minimum of 25 years of age at the time of applying for the loan, and no older than 65 at the end of the loan tenure
- Those who have been in business for a minimum of 3 years
- Should earn at least Rs. 2,50,000 per annum
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Used Car Loan for Major Car Manufacturers in Cochin
Used Car Loan Cochin Interest Rates
| Banks | Processing Fee |
| HDFC Bank | Rs.1.25 per Rs.1,000 of loan amount to Rs.200 per lakh |
| Axis Bank | Rs.1,000 + GST to Rs.2,500 +GST |
| Canara Bank | Rs.500 |
| Kotak Mahindra Bank | Rs.1,000 to Rs.1,500 |
| State Bank Group | Rs.1,000 + taxes |
| Private Bank | Rs.3,500 – Rs.15,000 |
| Bank of India | Rs.3,000 – Rs.10,000 |
| Bank of Baroda | Rs.3,500 – Rs.5,500 |
Used Car Loan Cochin Contact Number:
9910324678
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