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|
|ICICI 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%|
|Kotak Mahindra Bank||11.50% – 13.50%||17% – 20%|
|State Bank Group||10.50%||17.05% to 17.30%|
|ICICI 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:
Any of the following documents as identity or address proof:
- 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:
- 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
Eligibility to apply for a Pre-Owned Car Loan:
The car loan eligibility requirements are as followed:
- 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):
- 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
Used Car Loan for Major Car Manufacturers in Cochin
Used Car Loan Cochin Interest Rates
|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|
|Kotak Mahindra Bank||Rs.1,000 to Rs.1,500|
|State Bank Group||Rs.1,000 + taxes|
|ICICI 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:
|Used Car Loan Ballabhgarh||Used Car Loan Bhaderwah|
|Used Car Loan Bhiwani||Used Car Loan Bhopal|
|Used Car Loan Bidar||Used Car Loan Burhanpur|
|Used Car Loan Chatra||Used Car Loan Charkhi Dadri|