Used Car Loan Markapur

Best Banks for Used Car Loan in Markapur

Used Car Loan Markapur Features

Thinking of purchasing a new car? But don’t have the required funds for it? Do not worry! A car loan is here for you. A car loan is a means of funding or financial help provided by banks and NBFCs to the applicants at an affordable rate of interest to aid them in buying a car, whether new or used.

Since cars have become a necessity for everyone, but the cost of cars is growing rapidly daily. This is where a car loan comes into play and fulfills your desire to be the owner of your dream car. The main features of a car loan in Markapur are:

• Car loans are available at low-interest rates
• Almost all major banks and NBFCs offer car loans in Markapur
• The documentation process is quick and hassle-free
• Car loans are easily available through DialaBank
• The CIBIL score of the applicant needs to be more than 700.

Used Car Loan Markapur Interest Rate

Details on the  car loan interest rate are given below:

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

Used Car Loan Markapur Documents Required

Details on the documents required for car loan are mentioned below:

For Salaried:

• 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 and address
• Income proof: Latest Salary Slip, Latest Form 16/Latest ITR
• 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
• Address proof: Memorandum and Articles of Association, Certification of Incorporation, Telephone Bill, Electricity Bill
• 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 Markapur Eligibility Criteria

The details on eligibility criteria for car loan are mentioned below:

For Salaried:-

1. Minimum age: 21 years
2. Maximum age at loan maturity: 60 years
3. Minimum employment: 1 year in current employment and a minimum of 2 years of employment
4. Minimum Annual Income: Rs 2,50,000 net annual income
5. This involves doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state, and local bodies

For Self-Employed:-

1. Minimum age: 21 years
2. Maximum age at loan maturity: 60 years
3. Minimum employment: at smallest 3 years in sales
4. Minimum Annual Income: Rs, 2,50,000 per annum
5. This includes appliers who own a private company in the business of manufacturing, trading, or services
6. Appliers who have an office landline

Used Car Loan for Major Car Manufacturers in Markapur

TABLE WILL APPEAR

Processing Fees / Prepayment Charges on Used Car Loan Markapur

CIBIL Score Required for Used Car Loan in Markapur

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 Markapur.

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 Markapur Contact Number

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

Pre Calculated EMI Table for Car Loan Markapur

Used Car Loan EMI Calculator