All About Used Car Loan Uran
Car is the basic need of today’s generation. But buying a brand new car can be expensive. In such situations, Used Car Loans make things simpler. By taking a Used car loan, you can easily buy a second hand car. These loans are provided by banks and NBFC’s.
Interest Rates for Used Car Loan Uran
The banks usually provide the used car loan at the 14% rate of interest, which is fair as well as convenient.
Eligibility for Used Car Loan Uran
To take the used car loan, the borrower must be either Self Employed or Salaried.
- The candidate must be currently working.
- He must be of 25 years or, he can add a co-applicant to get the loan.
- The applicant must have CIBIL of 700.
- Moreover, he must have filed an ITR of Rs. 2.4 lakhs for the last 2 years.
Note: Used Car loan is not given to the clients who live in a rented house.
- The salaried employees must be within the age of 21-60 years.
- He must be earning a monthly pay of Rs. 24000 at least.
- He requires having a CIBIL of 700.
- Also, rented people cannot apply, excluding those who are government employees.
Benefits of Used Car Loan Uran
- The loan is available with many repayment modes.
- The documentation method is hassle-free.
- There is no need to submit any security or asset to the bank.
- The cost of the used car is much less than the new car which makes this loan more suitable.
- Also, the loan disbursal period is very less.
Documentation of Used Car Loan Uran
Following documents are to be submitted for the approval of the loan:
- The borrower needs Pan Card and Aadhar Card.
- All the documents related to ITR are required.
- The borrower requires Pan Card and Aadhar Card.
- He also needs to submit 3 months’ salary slip and 6 months bank statement.
- Also, he needs a copy of RC and Insurance.
- The borrower must submit his rent agreement in case the borrower is living in a rented house. ( Only for government employees)
Additional Information for Used Car Loan Uran
- Used Car Loan is provided only on the models after 2013.
- The customer will get 85% of the insurance value as the loan amount.
- The customer with CIBIL score of 1, 0 and -1 can also get the loan.
- The loan amount starts from Rs. 1 lakh.
- In the case of luxury cars, loans can be given on models after 2011.
How to Apply for Used Car Loan?
Firstly, you require to visit our site, i.e., Dialabank.
Then, apply online for the Used Car Loan.
After that, we will contact you as soon as possible. We will help you to get the loan in the fastest way.
Uran is a town in the Maharashtra state of India. It comes under the Konkan division. It is primarily a fishing and agriculture-based village.