Used Car Loan

Cheapest Used Car Loan

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Used Car loan

Own your favourite car that you have always dreamt with attractive features of a Car Loan. We offer car loans for New Car, Pre-Owned car and even a loan against car.

Features

  • Loan up to 90% of the Car Value
  • Loan tenure up to 5 years.
  • Pre-Qualified Car Loans for existing customers
  • Attractive rate of interest
  • Easy documentation

Benefits

  • Flexible repayment options.
  • Tailor made schemes.
  • Fast, Reliable and Personalized Service.
  • Attractive deals from associated car dealers.
  • Insurance cover for Loan Liability available, repayable along with EMI.
  • Zero Pre-payment charges.

Used Car Loan Eligibility

Loan Amount

The minimum loan amount for taking a car loan is Rs. 1,00,000. The maximum loan amount will depend upon the price of the car, model variant, profile of the customer, etc.

New Car

  • Loan up to 100% of ex-showroom price of the car.

Pre-owned Car

  • Loan up to 80% of the valuation of car with maximum tenure of 60 months* (can go further depending on profile)
  • Hassle-free processing.

For salaried

  • The applicant should be above 25 years old at the time of application, and upto 58 years of age at the time of maturity of the loan.
  • Gross annual income of at least Rs. 2.50 lakh.
  • The total employment stability should be more than 2 years and current employment stability of minimum 1 year.

For Self Employed Individuals

  • Any proprietor, partner, professional or director above 28 years but below 65 years at the time of the loan maturity.
  • Gross annual income of at least Rs. 2.00 lakh.
  • Current business stability should be 2 years or total more than 3 years.

Parternership Firm

  • Firm should have a minimum PAT (profit after tax) of Rs. 2.00 lakh Business income as per ITR or Profit as per P/L.
  • Current business stability should be 2 years or total more than 3 years.

Private public ltd co

  • Limited companies should have been in existence for at least 3 years.
  • Minimum PAT (profit after tax) of Rs. 2.00 lakh Business income as per ITR

UCL Documents

Income Proof

  • Self-Employed individuals: Income Tax Returns of 2 previous financial years.
  • Partnership Firms, Societies & Companies: Income Tax returns of 2 previous financial years along with complete financial/audit report.
  • Documents supporting customer information: Identity Proof, Signature Proof,Recent passport size color photograph and Address Proof as per Bank norms (Dialabank representative will help you choose suitable documents).
  • Business / employment stability proof
  • Ownership proof required if self-employed individuals.
  • Bank statements.

Other documents

  • Partnership Firms: Partnership deed and Letter signed by all partners authorizing one partner to execute the required Car Loans documentation.
  • Societies and Companies: Resolution by Board of Directors (or such managing body) & Memorandum & Articles of Association (or Society/Trust deed).