+91 9650232300
011 35742201
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1. Lower Interest Rates: Shivay Financial Consultant offers competitive interest rates for car refinancing, potentially leading to reduced monthly payments and overall interest costs.
2. Extended Loan Tenure: Borrowers can benefit from extended loan tenures when refinancing with Shivay Financial Consultant, providing flexibility and potentially lowering the monthly repayment burden.
3. Quick and Efficient Process: Shivay Financial Consultant ensures a streamlined and efficient refinancing process, with quick approval and disbursement of funds, allowing borrowers to take advantage of favourable market conditions promptly.
4. Improved Cash Flow: Refinancing may lead to improved cash flow, especially if the new loan terms result in lower monthly payments, providing financial relief for borrowers.
5. Access to Additional Funds: Car refinancing with Shivay Financial Consultant may allow borrowers to access additional funds beyond the existing loan amount, offering financial flexibility for other needs.
6. Customised Loan Solutions: Shivay Financial Consultant provides personalised solutions, tailoring the refinancing terms to meet individual borrower needs and financial goals.
7. Potential Interest Savings: Refinancing can lead to potential interest savings over the life of the loan, especially if the borrower's creditworthiness has improved since the original car loan was obtained.
Read on to know the criteria required to apply for our Car Refinance In Bhopal.
1. Existing Car Loan: Applicants should have an existing car loan that they intend to refinance. The original loan should be in good standing with a history of regular payments.
2. Car Age and Mileage: The car to be refinanced should typically be within a certain age and mileage limit, as specified by Shivay Financial Consultant. This criteria can vary based on the lender's policies.
3. Creditworthiness: Applicants must have a satisfactory credit history and credit score. A higher credit score enhances the chances of approval and may lead to more favourable refinancing terms.
4. Income Stability: Demonstrating a stable source of income is crucial. Lenders may require proof of employment, income statements, or tax returns to assess the borrower's ability to meet the new loan terms.
5. Equity in the Vehicle: There should be equity in the car, meaning that the current market value of the vehicle should be higher than the remaining balance on the existing car loan.
6. Loan-to-Value Ratio: The loan-to-value (LTV) ratio, which compares the loan amount to the car's current value, should fall within the acceptable range set by Shivay Financial Consultant. This helps ensure that the refinanced loan is adequately secured.
Income Proof Documents
Photo Identity Proof (Any one):
Address Proof (Any one):
Proof of Income:
For Salaried Professionals:
For Self-Employed Professionals / non-professional:
For Parntership Firm:
For Private Limited Company:
The monthly part-payment that you make to repay your Car Refinance is known as an Equated Monthly Instalment (EMI). This monthly payment includes repayment of the principal amount of your loan divided over the period of the loan, with the agreed interest amount on the outstanding amount of your loan. Shivay Financial Consultant online Car Refinance EMI Calculator is essential to make an up-to-date decision to execute your Car Refinance Plan at optimum levels. This EMI calculator online aids you to perform complex computing functions to calculate your Car Refinance Equated Monthly Instalment accurately in an instant.
The fees and charges of Car Refinance In Bhopal usually vary from lender to lender and from case to case. The aforementioned table will give you a fair idea of the fees and charges related to Car Refinance In Bhopal:
| Particulars | Charges |
|---|---|
| Loan Processing Fees | Upto 4% of the total loan amount |
| Loan Cancellation | Usually around 3000 |
| Stamp Duty Charges | Payable as per the state law |
| Rate of Interest | 11.30% per annum onwards |
| Penal Charges | 2% on the delayed payment |
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+91 9650232300
011 35742201
Call @ 9:30am to 7.00pm
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