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Used Car Loans in Ernakulam
Ernakulam residents aiming to save on transportation costs can opt for second-hand cars. Shriram's Used Car Loans in Ernakulam offer budget-friendly plans tailored to your needs. Interest rates start at 10%* p.a., and loans cover up to 85%* of the car's value. Applying is straightforward, with quick decisions through an online system. Use this guide to understand more about Used Car Loans and how it can make your life easy.
Used Car Loan Types in Ernakulam
Shriram Finance provides a variety of loan options to meet the needs of customers in Ernakulam. Evaluate these loan types carefully to determine which one aligns best with your financial goals and circumstances.
Pre-Owned Car Loan
Car Refinancing (Loan Against Car)
Features and Benefits of Used Car Loans in Ernakulam
High Loan-to-Value Ratio
Low and Competitive Interest Rates
Flexible Repayment Plans
On-Time Payment Alerts
Quick Online Application
Tailored Loan Offers
Car Refinancing Availability
Supportive Customer Care
Used Car Loan Interest Rates in Ernakulam
Shriram Finance offers interest rates for Used Car Loans starting at an attractive 10%* p.a., making it an affordable choice for purchasing second-hand cars. These rates are structured to support realistic repayment schedules, helping customers manage finances comfortably.
| 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 |
To plan your budget effectively, use the EMI calculator provided by Shriram. This tool allows you to calculate your estimated monthly payments and interest costs, enabling you to make an informed decision before applying for a loan.
How to Use the Used Car Loan EMI Calculator
To effectively use the pre-owned car loan EMI calculator, simply type in your chosen loan amount and select your preferred repayment length. The calculator will instantly provide your estimated monthly EMI, helping you adjust your financial planning. This simple tool clearly demonstrates how different loan amounts and repayment timeframes can affect your monthly payments, enabling you to select the option that best suits your budget.
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 Ernakulam
At Shriram Finance, we offer useful car refinancing options in Ernakulam, enabling you to leverage the value of your existing car to obtain immediate funds without selling it. This service allows you to tap into your car's worth for various financial needs. Our refinancing solutions come with competitive interest rates and adjustable repayment terms, ensuring you can manage your finances comfortably while continuing to use your vehicle. This option is available when there are no outstanding loans on the car, making it a practical choice.
Eligibility and Documentation Criteria for Used Car Loans in Ernakulam
To assess your used car loan eligibility online, you'll need to meet these essential criteria. These documents may vary based on the applicant's profile and the loan amount.
Eligibility Criteria:- Age: Applicant must be between 21*-59* years at loan maturity.
- Residency: All Indian residents.
- Income: These will vary depending on the specifics of the vehicle, its age, and the chosen repayment timeline.
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 Loans in Ernakulam
Apply for a Used Car Loan is simple; follow these steps:
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 Ernakulam
To find the nearest branch in Ernakulam or nearby areas, please use the simple branch locator tool available on the Shriram Finance website.
Locate Us
Used Car Loan Customer Care in Ernakulam
We at Shriram Finance focus on providing excellent customer care in Ernakulam, so you can receive knowledgeable assistance with your pre-owned car loan queries. Contact us by phone or visit a nearby branch for dedicated support.
Used Car Loan Status in Ernakulam
To check the status of your Used Car Loan in Ernakulam, securely log into your account on the Shriram Finance website and navigate to the 'Loan Status' section. Enter your application number or loan account number to receive the most recent updates. You may also contact our knowledgeable customer care team directly or visit one of our branches to inquire about your loan status. We are committed to keeping you updated throughout the loan process.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a Used Car Loan in Ernakulam?
Yes, you can get a Used Car Loan in Ernakulam from us. We offer adaptable and convenient financing options for pre-owned vehicles.
What are the eligibility criteria for a Used Car Loan in Ernakulam?
To be eligible for a Used Car Loan, you must be an Indian resident, at least 21* years old, and not more than 59* years old at loan maturity. The income requirement varies based on the vehicle model, age, and repayment tenure.
What is the interest rate on a Used Car Loan?
The interest rate for our Used Car Loans starts at 10%* p.a. but the exact rate may vary based on individual factors.
What documents are required for a Used Car Loan in Ernakulam?
Required documents include an application form, registration certificate of the vehicle, KYC documents, income proof, and bank statements. The exact list may vary based on your profile and loan amount.
What is the processing fee for a Used Car Loan?
The processing fee for a Used Car Loan is up to 5%* of the loan amount.
What is the down payment required for a Used Car Loan in Ernakulam?
We offer financing of up to 85%* of the vehicle's value, which means you need to pay a down payment covering the remaining 15%*.
Can I apply for a Used Car Loan online in Ernakulam?
Yes, you can apply for a Used Car Loan online through the Shriram Finance website or Shriram One mobile app in a few easy steps.
What is the maximum loan amount I can get for a used car in Ernakulam?
The maximum loan amount for a Used Car Loan is up to 85%* of the vehicle's value, with a minimum loan amount starting from 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.