Used Car Purchase Loan

Used Car Purchase Loan - Features, Benefits & Documentations

Used Car Purchase Loan.

What is Used Car Purchase Loan? : Used car market is growing fast in India. Buying a Used Car is become affordable and easy with multiple Banks and NBFCs offering upto 90%* loan on the current market valuation. However, the loan amount is approved on the basis of your CIBIL Score. As Used Car Purchase Loan is a secured loan its interest rate ranges between 13%-16% reducing.   

List of documents required:

  1. Latest Passport size photo
  2. ID & Signature Proof – PAN Card, Adhar Card, Passport and Driving License.
  3. Residence Proof – Electricity Bill, Maintenance Bill, Gas Bill, Purchase Agreement & Bank Statement.
  4. 6 months bank statement from where your existing EMI is going
  5. Latest Form – 16 + 3 months Latest Salary Slips + Company ID Proof (If Available)– for Salaried
  6. Latest 2 years Income Tax Returns (Complete Set) + Business Proof – for Self Employed
  7. Car Registration Book/Card and Insurance Policy of the car you are buying.

*Conditions Apply

Used Car Purchase Loan