All about Used Car Loan Jehanabad
A used car loan is the loan offered by the lenders for purchasing a used vehicle. When you decide to purchase a car, usually new, you also apply for a loan in any bank or other financial institution. This is because, the price of any vehicle is high, and it is difficult to finance it from your own pocket. When it comes to a used car, the price of the vehicle may be lower than that of a new vehicle, but still the price is pretty high to finance from one’s savings. That is the reason, financial institutions have also come up with a new type of loan known as used car loan.
Interest Rates for Used Car Loan Jehanabad
The interest rate for Used Car Loan Jehanabad is provided at 14.00% reducing. For example, if you procure an investment of Rs.5 lacs and you have paid off Rs.3 lacs, then the interest would be charged at remaining 2 lacs and not the entire amount of 5 lacs.
This interest is charged on the basis of reducing method.
Eligibility Criteria of Used Car Loan Jehanabad
- Firstly, Minimum age of the applicant should be 21 years.
- Secondly, Maximum age of customer should not more than 60 years.
- CIBIL score of the customer should be at least 700 and above
- Minimum employment 1 year in present company and a minimum of 2 years of work in total.
- Monthly income of the customer should be Rs 24,000.
- The minimum age of the borrower should be 30 years. In case the applicant is less than 30 years, he would need the co applicant.
- The age of co applicant should be of 25 years and he/she is currently working somewhere.
- The applicant must have filed an ITR of Rs.2.5 lakhs for past 2 years.
- CIBIL of the applicant needs to be 700 or above.
Note: Used Car Loan is not given to rented customers, unless he/she is a government employee.
Documents for Used Car Loan Jehanabad
- Identity Proof: PAN Card, Aadhar Card, Passport copy, Voters ID card, and Driving License.
- Residence Proof: Aadhar Card / Driving license/ PAN Card / Ration Card / Voter Card / Telephone Bill / Passport Copy / Life Insurance Policy / Electricity Bill.
- Income Proof: For Salaried employees latest three months salary slip is required along with six months bank statement. For Self- Employed applicant ITR for the last two years is required and six months bank statement.
Features of Used Car Loan Jehanabad
- Quick disbursal and instant funding.
- Easy repayment options.
- Affordable rate of interest.
- Loan Tenure fall between 1 to 5 years.
- No hidden charges for Used Car Loan Jehanabad
- Quickly and hassle-free documentation.
Additional information about Used Car Loan Jehanabad
- In this, the loan is available only for the car models which are launched after 2013.
- A customer with CIBIL 1,0 and -1 can also apply for loan.
- In case of luxury cars, the loan can be given upto 2011 model.
- The amount of loan that the customer will get is 85% of Insurance Value.
- Time period for which the customer can avail the loan is 24 months to 60 months.
How to Apply for Used Car Loan Jehanabad?
- First, you need to visit our official site DialaBank.
- After that, apply for Used Car Loan online.
- Enter your contact number and other details so that our team can contact you back.
- DialaBank is the best platform to apply for a used car loan as you will get a loan at affordable rates of interests.
It is a town in Nagar Parishad of Jehanabad district in Bihar, India. Now it is effortless to avail used car loan with the help of Dialabank.
Used Car Loan Providers (Click to Apply)
Table of Contents
- 1 All about Used Car Loan Jehanabad
- 2 Interest Rates for Used Car Loan Jehanabad
- 2.1 Eligibility Criteria of Used Car Loan Jehanabad
- 2.2 Documents for Used Car Loan Jehanabad
- 2.3 Features of Used Car Loan Jehanabad
- 2.4 Additional information about Used Car Loan Jehanabad
- 2.5 How to Apply for Used Car Loan Jehanabad?
- 2.6 About Jehanabad
- 2.7 Used Car Loan Providers (Click to Apply)