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Used Car Loans in Ambala
Ambala's strategic location and rapid urban development have led to a growing demand for personal vehicles. Choosing a second-hand car is an economical way to own a vehicle without the high cost of a new model. Used car loans in Ambala provide financial assistance, helping you purchase a reliable pre-owned car without a large upfront payment. With Shriram Finance, you can enjoy competitive interest rates and manageable repayment plans on your used car loan. Our financing solutions cater to both first-time buyers and those upgrading. Explore your options today through our online portal or by visiting a branch.
Used Car Loan Types in Ambala
Shriram Finance provides various used car loan types in Ambala to cater to different customer needs. Select a financing solution that aligns with your financial situation and requirements.
Pre-Owned Car Loan
Loan Against Car (Car Refinancing)
Features and Benefits of Used Car Loans in Ambala
Competitive Interest Rates
Flexible Repayment Tenures
High Financing Percentage
Regular Reminders
Easy Online Application
Car Refinancing Options
Dedicated Customer Service
Customised Loan Solutions
Used Car Loan Interest Rates in Ambala
With interest rates starting from 10%* p.a., Shriram Finance makes used car loans in Ambala both accessible and cost-effective. Competitive rates ensure affordability, making pre-owned car ownership easier. Check the table below to understand the applicable rates and charges:
| Type of Fees | Applicable Charges |
|---|---|
| Interest Rate | Starting from 10%* p.a. |
| Processing Fees | up to 5%* |
| Foreclosure Charges | up to 4%* |
| Loan Tenure | up to 48 months |
Use our second-hand car loan EMI calculator to estimate monthly instalments and interest rates before applying:
How to Use the Used Car Loan EMI Calculator
To estimate your monthly repayment, enter your loan amount and tenure in the EMI calculator. It provides instant results, helping you plan your finances effectively.
STEP 01
Required Loan Amount
STEP 02
Interest Rate
Min 10%
Max 42%
STEP 03
Min 18 months
Max 48 months
Loan Summary
Loan
Loan Amount
âı 1,00,000
Interest Payable
âı 8,103
Monthly EMI
âı 6,006
Car Refinancing in Ambala
Shriram Finance facilitates access to funds through your car's established value via refinancing, eliminating the need to sell your vehicle. This service provides ready cash for diverse financial requirements while allowing continued use of your car. We offer car refinancing featuring attractive interest rates and adaptable repayment schedules. Please be aware, this option is exclusively available for vehicles without any existing loan commitments.
Eligibility and Documentation Criteria for Used Car Loans in Ambala
To check used car loan eligibility online, applicants must meet the following criteria. These documents may vary based on the applicant's profile and the loan amount.
Eligibility Criteria:- Age: Minimum 21* years, with a maximum age of 59* years at loan maturity.15%*
- Residency: All Indian residents.
- Income: Requirements vary based on the vehicle model, age, and repayment tenure.
Required Documents:- To check used car loan eligibility online, applicants must meet certain criteria. The essential documents required include:
- KYC Documents: Proof of identity and address.
- Income Proof: Salary slips for salaried individuals, income tax returns (ITR) for self-employed.
- Bank Statements: Recent bank statements may be required.
- Vehicle Documents: Registration certificate and insurance details of the used car.
Step-by-Step Application Process for Used Car Loans in Ambala
To apply for a used car loan, follow the steps below:
Step 1
Visit the Shriram Finance website and register using your mobile number.Step 2
Verify the OTP sent to your mobile number to proceed.Step 3
Provide your personal information such as name, address, and contact details.Step 4
Once your application is submitted, a representative will connect with you to process your loan further.
Our Used Car Loan Branches in Ambala
Shriram Finance maintains a presence in Ambala to assist with your second-hand car loan needs. Utilise our locator tool to identify the branch nearest to you.
Locate Us
Used Car Loan Customer Care in Ambala
Our customer care representatives in Ambala stand ready to address any enquiries concerning pre-owned car loans. You may contact us by telephone or visit a local branch. A table listing customer care details is provided below:
Used Car Loan Status in Ambala
To review your used car loan status, access your Shriram Finance account and proceed to the 'Loan Status' section. Enter your application or loan account number to get updates or contact our customer care. Our goal is to ensure you are well-informed at each step of the loan process.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a used car loan in Ambala?
Yes, Shriram Finance offers used car loans in Ambala with flexible financing options to help you own a second-hand vehicle conveniently.
What are the eligibility criteria for a used car loan in Ambala?
To qualify for a used car loan in Ambala, you must be an Indian resident aged between 21* and 59* years at loan maturity. Your eligibility also depends on factors such as the vehicle's model, age, and repayment tenure.
What is the interest rate on a used car loan?
Interest rates start at 10%* p.a., but the final rate will depend on various factors, including your credit profile.
What documents are required for a used car loan in Ambala?
Applicants must submit an application form, vehicle registration certificate, KYC documents, income proof, and bank statements. Document requirements may vary based on the loan amount and applicant profile.
What is the processing fee for a used car loan?
A processing fee of up to 5%* of the loan amount is charged for a used car loan.
What is the down payment required for a used car loan in Ambala?
Shriram Finance funds up to 85%* of the vehicle's value, requiring you to cover the remaining 15%* as a down payment.
Can I apply for a used car loan online in Ambala?
Yes, you can apply online via the Shriram Finance website or the Shriram One mobile app in just a few steps.
What is the maximum loan amount I can get for a used car in Ambala?
The loan amount can go up to 85%* of the car's value, with the minimum loan starting at âı1 lakh*.
Disclaimer
The information provided in this guide is for educational purposes only and should not be considered financial advice. Always consult with a financial advisor before making investment decisions related to fixed deposits or any other financial products.