Used Car Loan Bhopal

Information About Used Car Loans in Bhopal

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 Bhopal

• HDFC Bank
• Axis Bank
• Corporation Bank
• Canara Bank

Used Car Loan Bhopal Features

• Loan Amount Avail of loans up to Rs.2.5 crore on a wide range of used cars and multi-utility vehicles.
• Flexible Repayment Tenure – Flexible repayment tenures from 12 months to 84 months.
• Car model should not be older than 5 years from the present time
• Flexible repayment options, which range from 12 to 60 months
• Hassle free loans – no post dated cheques required
• Finance up to 92% of the car’s value
• Choose any car available in India
• Repay your Loan with easy EMIs
• Easy and simple documentation.
• Loan approvals within 24 hours.
• Quick and easy Processing
• Attractive interest rates.
• Unmatched Service
• Buying assistance

 Used Car Loan Bhopal Interest Rates

Check the Car Loan Interest rates for new cars as well as used cars:

Documents Required for Used Car Loan Bhopal

Salaried Individuals

Any of the following documents required for car loan for identity and residence 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

  Any of the following as sign verification proof:

  • Passport Copy
  • Photo Driving License with DOB
  • Credit Card Statement with Credit Card Copy
  • Banker’s Verification
  • Copy of Margin Money Paid to the Bank

  Self Employed Individuals (Sole Proprietorship):

  Any of the following documents as address proof:

  • Memorandum and Articles of Association
  • Certification of Incorporation
  • Telephone Bill
  • Electricity Bill

  Any of the following as sign verification proof:

  • Passport Copy
  • Photo Driving License with DOB
  • Credit Card Statement with Credit Card Copy
  • Banker’s Verification
  • Copy of Margin Money Paid to the Bank

   

• The following points need to be kept in mind while checking the Car loan Eligibility criteria:Salaried Individuals:
  • • 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
        

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