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Used Car Loan in Amritsar
Purchasing a used car is a practical option for many individuals in Amritsar, especially when looking to balance affordability with personal mobility needs. However, arranging funds for a second-hand car can often require financial assistance. A Used Car Loan in Amritsar offers the necessary support to buy a pre-owned vehicle without impacting long-term savings. This guide will help you understand how Shriram Finance provides used car loan, along with key features, eligibility, and documentation requirements.
Used Car Loan Types in Amritsar
Shriram Finance brings a variety of second-hand car loan options in Amritsar to meet customer demands. Select a loan that fits your needs and budget.
Loan Against Car (Car Refinancing)
Pre-Owned Car Loan
Features and Benefits of Used Car Loan in Amritsar
Flexible Repayment Tenures
Competitive Interest Rates
High Financing Percentage
Regular Reminders
Dedicated Customer Service
Easy Online Application
Customised Loan Solutions
Car Refinancing Options
Used Car Loan Interest Rates in Amritsar
The Used Car Loan in Amritsar from Shriram Finance offer attractive interest rates starting at 10%* p.a., ensuring affordable car financing. These rates are designed to make loan repayments easier, allowing you to own a pre-owned car without burdening your finances. Below is a summary of the charges and fees applicable to our Used Car Loan:
| 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 |
You can also check your estimated EMIs and interest rate using our second-hand car loan EMI calculator. This simple tool lets you plan your repayments early and helps you select a loan option that suits your financial situation.
How to Use the Used Car Loan EMI Calculator
Using the pre-owned car loan calculator is effortless. Select your loan amount and tenure, and it will instantly generate your estimated EMI. This helps you get a clear idea of your repayment plan before applying. The tool also shows how different loan options impact your EMI, ensuring that you choose the right one. It is a helpful way to manage your finances smartly.
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 Amritsar
Shriram Finance offers car refinancing options in Amritsar, enabling you to secure extra funds without selling your car. This option helps you meet urgent financial needs while retaining vehicle ownership. With affordable interest rates and easy repayment terms, managing your loan becomes simpler. However, this facility is only available if there is no existing loan on the car, making it a practical solution for those needing quick financial help.
Eligibility and Documentation Criteria for Used Car Loan in Amritsar
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.
- Residency: All Indian residents.
- Income: Requirements vary based on the vehicle model, age, and repayment tenure.
Required Documents:- 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 Loan in Amritsar
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 Amritsar
To bring our services closer to you, Shriram Finance has established several branches in Amritsar. These offices are located in important city areas, making them easy to find. Here are some of the key locations:
Locate Us
Used Car Loan Customer Care in Amritsar
Shriram Finance provides dedicated customer care services in Amritsar to help you with all Pre-owned Car Loan queries. You can call us or visit any nearby branch for direct assistance. Below are our used car loan customer care numbers:
Used Car Loan Status in Amritsar
To check your Used Car Loan Status in Amritsar, visit Shriram Finance website and log in to your account. Open the 'Loan Status' page and enter either your loan account number or application number. You can also reach out to customer care or visit our branch. We make sure you are updated at each stage of your loan process.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a Used Car Loan in Amritsar?
Yes, Shriram Finance offers Used car loan in Amritsar with flexible plans and easy approval for second-hand cars.
What are the eligibility criteria for a Used Car Loan in Amritsar?
You should be an Indian resident between 21* and 59* years when the loan ends. Income will be based on car type, model, and loan tenure.
What is the interest rate on a Used Car Loan?
Interest rates begin at 10%* p.a. and final rates may depend on the car and applicant profile.
What documents are required for a Used Car Loan in Amritsar?
The necessary documents are an application form, KYC, income proof, bank statements, and a car registration certificate.
What is the processing fee for a Used Car Loan?
Processing fee is up to 5%* of the loan value. Full details are on the Shriram Finance website.
What is the down payment required for a Used Car Loan in Amritsar?
Loan covers up to 85%* of the car's value. The rest 15%* should be paid as a down payment.
Can I apply for a Used Car Loan online in Amritsar?
Yes, online applications are accepted through Shriram Finance website or Shriram One mobile app.
What is the maximum loan amount I can get for a used car in Amritsar?
Loan can be up to 85%* of car value, minimum 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.