Used Car Loans
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Used Car Loan
Anybody planning to buy a second-hand car or want to leverage a pre-owned car, can consider availing a used / pre-owned car loan. This is a loan which is offered by taking your car as collateral.
Used car loans is a very useful product which offers an opportunity to a motor vehicle owner to avail a loan up to 200% of the value of the vehicle subject to eligibility.
Though different financers will have their own funding norms, but most of the banks extend these loans in the range of 10-50 lacs for a period of 2- 5 years.
The processing of these loans is relatively very simple and swift with minimal documentation.
Who can avail this loan?
Any individual, salaried or self-employed who has a car or is planning to purchase a pre-owned car.
Any applicant owning a car, can avail this facility.