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Shriram Used Car Loans

Used Car Loan in Chennai

Finding the right car in Chennai becomes easier when you have the right financial support. A Used Car Loan in Chennai can help you buy a pre-owned car that suits your needs without putting pressure on your savings. Shriram Finance offers used car loans with flexible options for salaried and self-employed individuals. Whether you are upgrading to a bigger car or buying your first one, used car loans can make the process simple and affordable.

Used Car Loan Types in Chennai

Shriram Finance offers various second-hand car loan choices in Chennai to suit different customer needs:Select the loan type that best fits your needs and financial plans.

Pre-Owned Car Loan:

Pre-Owned Car Loan:

This loan lets you buy used cars with up to 85%* of the car’s value as funding.
Loan Against Car (Car Refinancing):

Loan Against Car (Car Refinancing):

You can get money based on your car’s value if there is no running loan on it. This is a good option to meet urgent cash needs without selling your car.

Features and Benefits of Used Car Loan in Chennai

The features of Used Car Loan in Chennai offered by Shriram Finance are built to make the loan process simple and help customers own a used car easily.The benefits of Shriram Used Car Loan in Chennai are tailored to provide customers with an easy and stress-free loan experience.
Competitive Interest Rates:

Competitive Interest Rates:

Interest rates start from 10%* p.a., helping make the total loan cost affordable and easy to handle.
Flexible Repayment Tenures:

Flexible Repayment Tenures:

Repayment terms are flexible, allowing you up to 48 months to repay the loan in a way that suits your financial condition.
High Financing Percentage:

High Financing Percentage:

You can get up to 85%* of the used car’s value financed, making it possible to buy the car you want with a small down payment.
Regular Reminders:

Regular Reminders:

Shriram Finance sends regular reminders to ensure that you never miss a payment and that your EMIs are always on time.
Car Refinancing Options:

Car Refinancing Options:

While it is not a balance transfer, this option lets you unlock funds using your car’s value if there is no ongoing loan on it.
Easy Online Application:

Easy Online Application:

A smooth and hassle-free online application process allows you to apply in just a few steps.
Dedicated Customer Service:

Dedicated Customer Service:

A reliable support team is available to guide you throughout the loan process and address any concerns.
Customised Loan Solutions:

Customised Loan Solutions:

Shriram Finance offers loan plans designed to match your specific financial needs and repayment ability.

Used Car Loan Interest Rates in Chennai

If you are applying for a Used Car Loan in Chennai, you can use the pre-owned car loan calculator to estimate your EMI. Just select your preferred loan amount and repayment tenure, and the calculator will instantly show your monthly EMI, making financial planning easier. This tool helps you compare different loan amounts and tenures, ensuring that you choose the most suitable repayment plan. It is a simple and effective way to understand how much you need to pay every month before taking a loan.

Type of Fees Applicable Charges
Interest RateStarting from 10%* p.a.
Processing FeesUp to 5%*
Foreclosure ChargesUp to 4%*
Loan TenureUp to 48 months

To make better financial decisions, try our second-hand car loan EMI calculator. It helps you get an idea of possible EMIs and interest rates so that you can plan before applying for a loan.

How to Use the Used Car Loan EMI Calculator

To use the pre-owned car loan calculator, simply select your desired loan amount and tenure. The calculator will instantly provide your monthly EMI helping you plan your finances effectively. It is a user-friendly tool to help you plan your loan. This calculator helps you understand how different loan amounts and tenures affect your monthly payments, allowing you to choose the most suitable option for your budget.

STEP 01

Required Loan Amount

â‚ı

STEP 02

Interest Rate

%

Min 10%

Max 42%

STEP 03

Loan Tenure
months

Min 18 months

Max 48 months

Loan Summary

loangraph

Loan

Loan Amount

â‚ı 1,00,000

Interest Payable

â‚ı 8,103

Monthly EMI

â‚ı 6,006

Car Refinancing in Chennai

Shriram Finance offers car refinancing options in Chennai, allowing you to tap into your vehicle’s value and get funds without selling it. This option lets you use your car’s equity to meet urgent financial requirements while continuing to own the vehicle. Our refinancing plans come with attractive interest rates and easy repayment options, making financial management hassle-free. This service is available only if there are no current loans on the car, making it a practical solution for those who need additional funds.

Eligibility and Documentation Criteria for Used Car Loan in Chennai

To check used car loan eligibility online, applicants must meet the following criteria:

  • Individual IconEligibility 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.
  • Individual IconRequired 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 Loan in Chennai

To apply for a used car loan, follow the steps below:

How To Apply

  • Step 1

    Register Online: Visit Shriram Finance website and register using your mobile number.

  • Step 2

    Verify OTP: Verify the OTP sent to your mobile number to proceed.

  • Step 3

    Enter Personal Details: Provide your personal information such as name, address, and contact details.

  • Step 4

    Application Submission: Once your application is submitted, a representative will connect with you to process your loan further.

Our Used Car Loan Branches in Chennai

Shriram Finance operates several branches in Chennai to ensure customers can easily access our services. You can find us at the following key locations:

Locate Us

or

  • ANDAMAN AND NICOBAR ISLANDS
  • ANDHRA PRADESH
  • ASSAM
  • BIHAR
  • CHANDIGARH
  • CHHATTISGARH
  • DADRA AND NAGAR HAVELI
  • DELHI
  • GOA
  • GUJARAT
  • HARYANA
  • HIMACHAL PRADESH
  • JAMMU AND KASHMIR
  • JHARKHAND
  • KARNATAKA
  • KERALA
  • Karnataka
  • MADHYA PRADESH
  • MAHARASHTRA
  • MANIPUR
  • MEGHALAYA
  • Madhya Pradesh
  • Maharashtra
  • ODISHA
  • PUDUCHERRY
  • PUNJAB
  • RAJASTHAN
  • SIKKIM
  • TAMIL NADU
  • TELANGANA
  • TRIPURA
  • Tamil Nadu
  • Telangana
  • UTTAR PRADESH
  • UTTARAKHAND
  • WEST BENGAL

Used Car Loan Customer Care in Chennai

In Chennai, Shriram Finance has a dedicated customer care team to guide you with any Pre-owned Car Loan related queries. Feel free to call us or walk into any branch for personalised service. Below are our two-wheeler loan customer care numbers:

Toll Free

Used Car Loan Status in Chennai

To check your Used Car Loan Status in Chennai, log in to your account on the official Shriram Finance website. Click on the 'Loan Status' tab and enter your application number or loan account number to view the latest updates. You may also contact our customer care or visit any branch to get information about your loan. We aim to keep you informed and updated at every stage of your loan journey.

Used Car Loan Major Cities in India

Used Car Loan in Chennai
Used Car Loan in Mumbai
Used Car Loan in Bangalore
Used Car Loan in Pune

Used Car Loan FAQs

Can I get a Used Car Loan in Chennai?

Yes, Shriram Finance offers Used Car Loans in Chennai with simple financing options for purchasing pre-owned cars.

What are the eligibility criteria for a Used Car Loan in Chennai?

To qualify, you must be an Indian resident aged between 21 and 59* years at loan completion. Income criteria depend on car model, age, and repayment plan.

What is the interest rate on a Used Car Loan?

Interest rates start at 10%* per annum, but the final rate is determined by factors like car model, loan tenure, and applicant profile.

What documents are required for a Used Car Loan in Chennai?

Key documents include an application form, KYC papers, income proof, recent bank statements, and the car’s registration certificate. Additional paperwork may be required.

What is the processing fee for a Used Car Loan?

Processing fee is up to 5%* of the loan amount. Please check Shriram Finance website for a detailed breakdown of charges.

What is the down payment required for a Used Car Loan in Chennai?

Up to 85%* of the vehicle’s value can be financed, requiring a 15%* down payment from the buyer.

Can I apply for a Used Car Loan online in Chennai?

Yes, applying online is easy via Shriram Finance website or Shriram One app.

What is the maximum loan amount I can get for a used car in Chennai?

Loans are available for up to 85%* of the car’s value, with a minimum loan amount of ?1 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.