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