Used Car Loan FAQs

Shriram Used Car Loans offer several benefits, including better financing and flexible repayment options.

Shriram Finance typically considers a variety of factors when approving a Used Car Loan, including your income, employment history, age, etc.

Yes, getting a Used Car Loan with low credit from Shriram Finance is possible.

• Pay off any existing debt before applying to improve your chances.
• Make sure your credit score is up-to-date before submitting an application.
• Consider making a larger down payment, which will reduce monthly payments.

The average interest rate on used cars varies depending on several factors such as your credit history, tenure of the loan requested, etc. Shriram Finance offers Used Car Loans at an interest rate starting from 10%* p.a.

You can apply online or visit the nearest Shriram Finance branch.

The maximum loan amount under Shriram Finance Used Car Loan is up to 85% of the price of the car, subject to a maximum of ₹10 lakhs.

You can apply for Shriram Finance Used Car Loan online through our website. The process is simple and hassle-free.

EMI (Equated Monthly Instalment) is the fixed payment that the borrower makes to the lender. EMI includes repayment of the loan principal amount and interest on the loan.

A Used Car Loan EMI calculator is a utility tool that helps calculate a loan's monthly instalment.

• Use the slider to select the loan amount.
• Select the loan tenure in months using the slider.
• Move the slider and select the interest rate.

EMI will be calculated when you move the sliders and you can recalculate your EMI anytime by changing the input slider.

The approval time for Shriram Finance Used Car Loan may vary based on factors such as the completeness of your application, the loan amount and other factors. Generally, it takes a few days to process and approve a loan application.

The minimum age requirement is 21 years and the maximum is 59 years at loan maturity.

The minimum loan amount is ₹1 Lakh, and the maximum is up to 85% of the used car's value.

The minimum tenure is 12 months and the maximum is 48 months.

The minimum age for eligibility is 21 years. The maximum age at loan maturity should not be beyond 59 years. The income requirement is subject to the chosen vehicle model, age and repayment tenure.

The minimum age eligibility is 21 years. The maximum age at the time of loan maturity should not be beyond 59 years. The income requirement is subject to the chosen vehicle model, vehicle age and repayment tenure.

The documents required include KYC documents, income proof, bank statements, and documents related to the used car's ownership and insurance. The exact list of documents may vary based on the applicant's profile and the loan amount.

The application process for a used car loan is simple. You will need to provide contact information on our website and submit your request. Our representative will contact you to complete the loan process.

The approval process for a used vehicle loan varies depending on an individual’s application. The loan will be approved in less than 72 hours after reviewing your application.

It is important to have good credit when applying for a used car loan. You may also need proof of income and other financial documents like bank statements or tax returns to be approved.

Yes, you can prepay your Shriram Finance Old Car Loan. However, prepayment charges are applicable as per your loan agreement terms and conditions.

You can apply for Shriram Finance Pre-Owned Car Loan by visiting Shriram Finance website or visiting Shriram Finance branch. You will need to fill out an application form and provide the necessary documents such as ID proof, address proof, income proof and details of the car you wish to purchase.

At Shriram Finance, there is no requirement for a minimum credit score. However, having a good credit score may increase loan approval chances.

Shriram Finance Used Car Loan interest rate starts from 10%* p.a.

Charges associated with a Pre-Owned Car Loan from Shriram Finance include processing fees, prepayment charges, late payment charges and cheque bounce penalties (if applicable).

The documents required to apply for Shriram Finance Old Car Loan may vary depending on your specific situation. However, generally, you will need to provide proof of identity, address proof, income proof, bank statements and details of the car you wish to purchase.

No. Shriram Finance does not finance cars more than 10 years old.