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Loans FAQs

Explore various loan options with our detailed FAQs. Access clear, concise information to choose the most suitable financing solutions for your needs.

Can I get a used car loan if I am self-employed or have irregular income?

  • Posted:21st October, 2025
  • Updated:21st October, 2025
Yes, self-employed individuals and those with irregular income can apply for a used car loan without restriction.
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How does the residual value guarantee affect used car loan terms?

  • Posted:21st October, 2025
  • Updated:21st October, 2025
Another used car loan consideration that may impact your terms is a residual value guarantee.
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How do lenders verify the source of down payment for used car loans?

  • Posted:21st October, 2025
  • Updated:21st October, 2025
When you apply for a used car loan, financial institutions conduct a careful review to ensure compliance with laws, regulations and avoid financial fraud.
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How do I calculate the total cost of borrowing including interest and fees for a used car loan?

  • Posted:21st October, 2025
  • Updated:21st October, 2025
When working out the complete borrowing costs of a used car loan, it is important to remember that pricing starts with the rate.
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What is the impact of choosing a fixed versus floating interest rate on used car loans?

  • Posted:21st October, 2025
  • Updated:21st October, 2025
The decision to take out a used car loan with a fixed or floating interest rate is an important one.
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How does depreciation of the used car value affect the loan balance over time?

  • Posted:21st October, 2025
  • Updated:21st October, 2025
Depreciation is a process by which a car loses value over time and usage due to normal wear and tear.
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Can I insure the used car under the lender’s name during the loan tenure?

  • Posted:21st October, 2025
  • Updated:21st October, 2025
When you obtain a loan for a pre-owned car, you will typically receive the insurance policy in your name as the registered owner.
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