Used Car Loan Madambakkam

Best Banks for Used Car Loan in Madambakkam

Used Car Loan Madambakkam Features

Tired of travelling by public transport? Want a new car? But doesn’t have the required budget? Do not worry! You can get a car of your own with the help of a car loan. A car loan will surely help you get your dream car. You will find many cars, that too at budget-friendly EMIs. You can get a car loan on used or pre-owned cars also.

The main features of a car loan in Madambakkam are:

• Car loans are available at a low rate of interest.
• Almost all banks provide car loans in Madambakkam
• Repayment plans are flexible and available at less rate of interest
• Track your loan application easily.
• The application process is fast and easy.
• Car loans are easily available through DialaBank

Used Car Loan Madambakkam Interest Rate

To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates

Used Car Loan Madambakkam Documents Required

documents required for a car loan are mentioned here-under:

For Salaried:

• Any of the following documents as identity & Address Proof:
• • • Valid Passport
    • Permanent Driving license [recent, legible, laminate]
    • 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
    • Last 6 months bank statement

  • Any of the following for sign verification proof:

    • Passport Copy
    • Photo Driving License with DOB (recent, legible, laminated)
    • Credit Card Statement with Credit Card Copy
    • Banker’s Verification
    • Copy of Margin Money Paid to the Bank

• For Self Employed:

  • Memorandum and Articles of Association/Certificate of Incorporation as age proof
  • Memorandum and Articles of Association/Certificate of Incorporation as identity proof
  • Latest ITR and audited balance sheet along with profit & loss account as proof of income
  • Documents required for address proof:- 
  • Memorandum and Articles of Association
  • Certification of Incorporation
  • Telephone Bill
  • Electricity Bill
  • Documents required for sign verification proof:-
  • Passport copy
  • Photo Driving License with DOB (recent, legible, laminated)
  • Banker’s verification
  • Copy of Margin Money Paid to the Bank
  • Also, the used car loan can be borrowed in the following type of firms as well:
    • Partnership Firms
    • Sole Proprietorship
    • Public Limited Companies

Used Car Loan Madambakkam Eligibility Criteria

eligibility criteria for a car loan are the completion of the following conditions:

For Salaried:-

1. This includes doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state, and local bodies
2. The minimum age of the candidate should be 21 years and the maximum age should be 60 years
3. Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer are eligible
4. Minimum Annual Income should be Rs 2,50,000

For Self-Employed:-

1. The minimum age of the candidate should be 21 years and the maximum age should be 60 years
2. Only Individuals who have been in business for a minimum of 3 years are eligible
3. An Individual  should earn at least Rs 2,50,000 per anum
4. This includes individuals  who own a private company in the business of manufacturing, trading, or services

Used Car Loan for Major Car Manufacturers in Madambakkam

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Madambakkam

CIBIL Score Required for Used Car Loan in Madambakkam

The CIBIL score is referred to as what defines your ability to pay off your credits. A higher credit score means good credit history and makes your car loan application process smooth and easy to be processed. Mostly, banks and NBFCs consider a credit score of 720 and above as a good score to approve your loan application process Madambakkam.

This score may again vary from bank to bank. In case of a low CIBIL score than the required value, you will be required to pay a high rate interest rate on the loan amount while if your CIBIL score is good then you may have to pay a low rate of interest. Thus, a CIBIL score is an important factor in a car loan.

A good CIBIL score provides an opportunity to negotiate and reduce the car loan interest rate to a certain extent.

Used Car Loan Madambakkam Contact Number

In case of any queries regarding the car loan in Madambakkam, you may contact the number 9878981166 for any sort of assistance.

Pre Calculated EMI Table for Car Loan Madambakkam

Used Car Loan EMI Calculator

About Madambakkam

Madambakkam is a Panchayat town in Chengalpattu district, Tamil Nadu, India. It borders Selaiyur, Vengaivasal, and Sithalapakkam. The town is well known for its greeneries and the centuries-old Dhenupureeswarar temple.

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