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Used Car Loans in Eluru
Eluru, with its expanding urban landscape and commercial importance in Andhra Pradesh, creates an environment where personal transportation becomes increasingly essential. For numerous residents, acquiring a pre-owned vehicle represents a cost-effective alternative to new car purchases. Used car loans in Eluru deliver the financial backing required to transform this aspiration into reality. Shriram Finance emerges as a leading financial organisation providing used car loans in Eluru, meeting the diverse needs of vehicle purchasers throughout this culturally rich region.
Used Car Loan Types in Eluru
In Eluru, Shriram Finance extends multiple second-hand car loan alternatives designed to accommodate various customer situations. Identify which loan category best matches your personal requirements and financial position.
Pre-Owned Car Loan
Loan Against Car (Car Refinancing)
Features and Benefits of Used Car Loans in Eluru
Flexible Repayment Tenures
Competitive Interest Rates
Regular Reminders
High Financing Percentage
Customised Loan Solutions
Car Refinancing Options
Easy Online Application
Dedicated Customer Service
Used Car Loan Interest Rates in Eluru
Shriram Used Car Loan Interest Rates in Eluru start at 10%* p.a., delivering economic and competitive financing alternatives. Our interest rate structure is tailored to facilitate manageable loan repayments, ensuring that purchasing a pre-owned vehicle remains financially viable for you. Review the summary below for essential information about charges and fees associated with 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 |
Before submitting your loan application, use our second-hand car loan EMI calculator to get an accurate estimate of your potential interest rate and monthly payments, helping you make informed financial decisions.
How to Use the Used Car Loan EMI Calculator
To use the pre-owned car loan calculator, just enter your desired loan amount and tenure. The calculator will promptly calculate your monthly EMI, helping you arrange your finances with confidence. It is an intuitive tool created to support your loan planning process. This calculator illustrates how different loan amounts and tenure options affect your monthly payments, allowing you to identify the most suitable arrangement that fits within your budget constraints.
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
₹ 1,00,000
Interest Payable
₹ 8,103
Monthly EMI
₹ 6,006
Car Refinancing in Eluru
In Eluru, Shriram Finance extends car refinancing solutions that allow you to monetise your vehicle's worth without parting with it. This innovative financial service helps you convert your car's value into readily available funds for addressing diverse financial priorities. Featuring attractive interest rates and customisable repayment schedules, their refinancing program ensures hassle-free financial management while you continue to use your vehicle. This facility is accessible for cars free from any outstanding loans, presenting a strategic financial option when you require extra capital for unexpected expenses or planned investments.
Eligibility and Documentation Criteria for Used Car Loans in Eluru
To check used car loan eligibility online, candidates must satisfy the following criteria:
Eligibility Criteria:- Income: Requirements fluctuate based on the selected vehicle model, its age, and the loan repayment duration.
- Residency: Open to all Indian citizens.
- Age: Applicants should be at least 21* years old, not exceeding 59* years at the time of loan completion.
Required Documents:- To check used car loan eligibility online, specific documentation is essential. The necessary papers include:
- Income Proof: Salary documentation for employed individuals; income tax returns for self-employed applicants.
- Vehicle Documents: Complete registration and insurance paperwork for the pre-owned vehicle.
- Bank Statements: Current banking records might be necessary.
- KYC Documents: Verified identity and address documentation.
Step-by-Step Application Process for Used Car Loans in Eluru
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 Eluru
Shriram Finance maintains a branch in Eluru where you can inquire about Used Car Loans. Key locations include:
Locate Us
Used Car Loan Customer Care in Eluru
For Pre-owned Car Loan assistance in Eluru, Shriram Finance maintains dedicated customer support services. You can receive personalised help by either calling our support team or visiting one of our branches in your area. See below for our used car loan customer service contact numbers:
Used Car Loan Status in Eluru
To check your Used Car Loan Status in Eluru, log in to your account through the Shriram Finance website, select the 'Loan Status' section and provide your application number or loan account number. Alternatively, you may call our customer service helpline or visit a nearby branch for information about your loan status. We prioritise keeping you updated during each phase of your loan journey.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a Used Car Loan in Eluru?
Yes, you can secure a Used Car Loan in Eluru from Shriram Finance. Shriram Used Car Loan delivers customisable and user-friendly financing options for pre-owned vehicles.
What are the eligibility criteria for a Used Car Loan in Eluru?
To be eligible for a Used Car Loan in Eluru, you must be an Indian resident, have attained the age of 21* years, and not be older than 59* years when the loan matures. Income requirements will vary based on the specific vehicle model, its age, and the selected repayment tenure.
What is the interest rate on a Used Car Loan?
The interest rates for Used Car Loans from Shriram Finance begin at 10%* p.a.. The exact rate offered will depend on various individual factors related to your financial profile.
What documents are required for a Used Car Loan in Eluru?
Required documentation includes a filled application form, the vehicle's registration certificate, personal identification documents (KYC), income verification documents, and statements from your bank. Specific document requirements may differ based on your individual circumstances and the loan amount you're seeking.
What is the processing fee for a Used Car Loan?
Shriram Finance charges a processing fee of up to 5%* of the principal loan amount for Used Car Loans.
What is the down payment required for a Used Car Loan in Eluru?
Shriram Finance funds up to 85%* of the vehicle's market value, requiring you to contribute the remaining 15%* as a down payment.
Can I apply for a Used Car Loan online in Eluru?
Yes, you can conveniently apply for a Used Car Loan online through Shriram Finance's official website or via the Shriram One mobile application with minimal steps.
What is the maximum loan amount I can get for a used car in Eluru?
The maximum financing available for a Used Car Loan reaches up to 85%* of the vehicle's assessed value, with minimum loan amounts beginning at ₹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.