Used Car Loans in Nagpur
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 Nagpur
- HDFC Bank
- Axis Bank
- Corporation Bank
- Canara Bank
Used Car Loan Nagpur 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.
- The 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 Nagpur Interest Rates
Banks/Rates | New Car Loan Interest Rate (Reducing) | Used Car Loan Interest Rate (Reducing) | Processing Fee | Get The Best Offers |
HDFC Bank | 10.00% – 11.00% | 13.99% – 15.50% | Rs. 999 to Rs. 4300 | Apply Now |
Axis Bank | 10.25% – 11:25% | 14.50% to 16% | Rs. 3500 to Rs. 5500 | Apply Now |
Bank of Baroda | 10.75% | N.A. | 0.75% Up to 15 Lac | Apply Now |
Kotak Mahindra Bank | 11.50% – 13.50% | 17% – 20% | Rs.3300 to Rs.4750 | Apply Now |
Punjab National Bank | 10.75% to 11% | NA | 0.5% to 1.5% | Apply Now |
State Bank Group | 10.50% | 17.05% to 17.30% | 0.50% | Apply Now |
Private Bank | 10.50% to 11.75% | 16.50% to 18.00% | Rs.2500 to Rs.5000 | Apply Now |
Bank of India | 10.50% to 13.50% | 13.50% to 14.50% | 0.50% to Rs.25000 | Apply Now |
Canara Bank | 12.50% Fixed | N.A | 0.10% of Loan Amount | Apply Now |
Corporation Bank | 13.75% | N.A | 0.50% | Apply Now |
Documents Required for Used Car Loan Nagpur
An individual must check the documents required for a car loan before deciding.
Salaried Individuals
Any of the following documents as identity or address 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 assign 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 assign 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 people are eligible to apply for a Pre-Owned Car Loan in Nagpur:
The car loan eligibility requirements are as followed in Nagpur:
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
-
Car Loan For Other Cities in Maharashtra
Used Car Loan Wardha | Used Car Loan Rahuri |
Used Car Loan Satara | Used Car Loan Ratnagiri |
Used Car Loan Thane | Used Car Loan Akot |
Used Car Loan Chandrapur | Used Car Loan Parola |