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Loan Details
Pre-Owned Cars Loan Scheme
Simple and convenient financing solutions for purchasing pre-owned cars.
Features & Benefits
- Quick sanctioning of the loan
Purpose
- Purchase of pre-owned Car (personal vehicles)
Quantum of Loan
- Max Rs.100.00 lakhs.
Margin
- 10% ex-showroom / On road
ROI
10.50% p.a
At monthly rest.
Documents / Income Proof
- Prescribed loan application form
- Latest Photograph, Photo Identity Proof, Residence proof of the Applicant and Guarantors
- RC/ TC book copy, Vehicle inspection report
- Valuation report/proforma invoice from manufacturer or from authorized dealer
- In case of salaried person, salary slip for last 3 months and bank statement for last 6 months or ITR and form 16 of latest one year
- In case of businessman, last 3 years’ profit & loss & balance sheet, ITR copies of last 3 years, bank statement of business account for last 3 months.
Security
- Hypothecation of the vehicle
Surety
- One guarantor to be accepted
Tenure / Repayment
- Maximum 36 months for cars more than 2 years but less than 7 years old
- Maximum 60 month for cars less than or equal to 2 years.
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