Used Car Loan Mahbubnagar

Best Banks for Used Car Loan in Mahbubnagar

Used Car Loan Mahbubnagar Features

Dreaming about getting a car? But don’t have enough funds for it? What if you can still get your own car?Yes! You can get your own car even if you don’t have the required balance, by getting a car loan. A car loan will surely help you to own a car that too at an affordable rate of interest.
The main features of a car loan in Mahbubnagar are:

• Available car loan at low-interest rates
• Almost all major banks and NBFCs offer car loans in Mahbubnagar
• Enjoy hassle-free processing and quick approvals
• Car loans are easily available through DialaBank

Used Car Loan Mahbubnagar Interest Rate

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

Apply for a Car Loan 

Used Car Loan Mahbubnagar Documents Required

An individual must check the documents required for car loan before deciding.

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 as 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 Mahbubnagar Eligibility Criteria

An individual must fulfil the Eligibility criteria for car loan to avail of the loan amount.

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 Mahbubnagar

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Mahbubnagar

CIBIL Score Required for Used Car Loan in Mahbubnagar

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 Mahbubnagar.

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.

Used Car Loan Mahbubnagar Contact Number

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

Pre Calculated EMI Table for Car Loan Mahbubnagar

You can calculate your EMI here: Car Loan EMI Calculator

Used Car Loan EMI Calculator

About Mahbubnagar

Mahbubnagar is a city in Mahbubnagar District of the Indian state of Telangana named after the 6th Nizam, Mir Mahbub Ali Khan. It is the headquarters of Mahbub Nagar mandal in Mahbub Nagar revenue division. The city is connected to major cities and towns by means of road and railways.

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