+91 9650232300
011 35742201
Call @ 9:30am to 7.00pm
1. Reduced Interest Rates: Car loans, being secured, typically attract lower interest rates compared to alternative financing avenues like personal loans, home loans, or other secured loans.
2. Swift Loan Processing: Car loans, secured against the intended vehicle purchase, involve lenient eligibility criteria and minimal documentation, facilitating faster loan processing by lenders.
3. Preservation of Savings: Car loans eliminate the need for individuals to dip into their savings or endure prolonged waiting periods, providing a quicker path to acquiring their dream vehicle.
4. Flexible Tenure Choices: Banks extend car loans with tenures of up to seven years, granting borrowers the flexibility to select a repayment period that aligns with their convenience.
5. No Additional Collateral Requirement: Car loans do not necessitate additional collateral, as the vehicle itself serves as security. In the event of payment default, the bank retains the right to seize and sell the vehicle to recover the loan amount.
6. Payment Mode Flexibility: Borrowers can opt for varied payment modes, including post-dated cheques or automatic deductions through the auto-debit facility, offering flexibility in repaying the equated monthly instalments (EMIs).
Read on to know the criteria required to apply for our Used Car Loan In Vapi.
To qualify for a pre-owned car loan, certain conditions must be met:
Prospective applicants should be individuals, either employed or self-employed, falling within the age range of 21 to 65 years. A prerequisite is a minimum annual income ranging from Rs. 2-4 lakh. Additionally, a favourable credit score of 750 or higher is essential. Applicants must also demonstrate a work history of at least 2 years in the same professional field.
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 Used Car Loan 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 Used Car Loan. Shivay Financial Consultant online Used Car Loan EMI Calculator is essential to make an up-to-date decision to execute your Used Car Loan Plan at optimum levels. This EMI calculator online aids you to perform complex computing functions to calculate your Used Car Loan Equated Monthly Instalment accurately in an instant.
The fees and charges of Used Car Loan In Vapi 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 Used Car Loan In Vapi:
| Particulars | Charges |
|---|---|
| Loan Processing Fees | Rs. 4000 to 9000 |
| Loan Cancellation | Rs 2000 plus taxes |
| Stamp Duty Charges | Payable as per the state law |
| Used Car Valuation Charges | Rs.800 + applicable Taxes |
| Prepayment Charges | 3% + Taxes |
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+91 9650232300
011 35742201
Call @ 9:30am to 7.00pm
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