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Used Car Loans in Khammam
Khammam is an important commercial and industrial centre in Telangana that presents circumstances where personal transportation becomes vital for navigating daily life with ease. For numerous residents, investing in a second-hand vehicle represents an economical solution compared to the substantial investment required for a new car.Used car loans in Khammam deliver the financial support crucial to making this acquisition attainable. Shriram Finance emerges as a dependable financial institution extending used car loans in Khammam, offering 10%* p.a. interest rates, convenient repayment tenures of up to 48 months, and quick approvals with minimal paperwork to serve the varied needs of vehicle purchasers in this thriving city.
Used Car Loan Types in Khammam
For Khammam residents, Shriram Finance provides diverse used car loan solutions tailored to address different customer needs. Select the loan format that most effectively addresses your needs and financial framework.
Pre-Owned Car Loan
Loan Against Car (Car Refinancing)
Features and Benefits of Used Car Loans in Khammam
Regular Reminders
Flexible Repayment Tenures
Competitive Interest Rates
High Financing Percentage
Car Refinancing Options
Dedicated Customer Service
Customised Loan Solutions
Easy Online Application
Used Car Loan Interest Rates in Khammam
Shriram Used Car Loan Interest Rates in Khammam start at 10%* p.a., delivering cost-efficient and competitive financing solutions. Our interest rates are designed to support convenient loan repayments, ensuring that purchasing a used vehicle stays compatible with your budget constraints. Below is a detailed outline of the key 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 |
Optimise your financial preparation by accessing our second-hand car loan EMI calculator to determine your anticipated interest rate and monthly obligations before completing your loan request.
How to Use the Used Car Loan EMI Calculator
The powerful pre-owned car loan calculator streamlines used vehicle financing planning. Specify your desired loan amount and select your preferred repayment timeline to immediately receive your projected monthly EMI. This convenient tool was developed to optimise your loan preparation experience. By showing how different combinations of loan amounts and tenure choices affect your monthly instalments, it helps you identify the most suitable financing arrangement that accommodates your budget requirements.
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 Khammam
In Khammam, Shriram Finance offers car refinancing arrangements that allow you to leverage your vehicle's dormant worth without selling it. This financial product enables you to convert your car's equity into ready funds for handling diverse economic challenges. With favourable interest rates and adjustable repayment options, Shriram Finance ensures you can fulfil your financial obligations smoothly while maintaining full access to your vehicle. This refinancing scheme is specifically crafted for vehicles without any existing loans, offering a practical fiscal alternative when you require additional capital for personal or business purposes.
Eligibility and Documentation Criteria for Used Car Loans in Khammam
To check used car loan eligibility online, prospective borrowers need to meet these standards. Documentation needs may vary based on individual circumstances and financing requirements.
Eligibility Criteria:- Age: Minimum 21* years old, not surpassing 59* years when the loan concludes.
- Income: Requirements vary depending on the vehicle's make, age, and chosen loan term.
- Residency: Accessible to all residents of India.
Required Documents:- To check used car loan eligibility online, specific documentation is necessary. The vital papers include:
- KYC Documents: Government-approved proof of identity and residential address.
- Income Proof: Salary verification for employed individuals; financial statements for self-employed applicants.
- Bank Statements: Recent financial transaction records may be required.
- Vehicle Documents: Full registration information and valid insurance documentation for the pre-owned vehicle.
Step-by-Step Application Process for Used Car Loans in Khammam
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 Khammam
Residents of Khammam can now access expert Used Car Loan solutions at Shriram Finance's full-service branch featuring streamlined documentation and quick approvals. Key locations include:
Locate Us
Used Car Loan Customer Care in Khammam
Shriram Finance provides dedicated customer support for Pre-owned Car Loan requirements in Khammam. You can secure individualised assistance by reaching out to our representatives or by visiting any of our conveniently situated branches in your vicinity. Our used car loan customer service contact information is enumerated below:
Used Car Loan Status in Khammam
To check your Used Car Loan Status in Khammam, access your account on the Shriram Finance website, proceed to the 'Loan Status' section and enter your application number or loan account number. You can also phone our customer service representatives or visit any branch in your vicinity to obtain updates about your loan application progress. We are dedicated to ensuring you stay well-informed during all phases of the loan approval journey.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a Used Car Loan in Khammam?
Yes, Shriram Finance offers Used Car Loans in Khammam. The company provides flexible and accessible financing arrangements for pre-owned vehicles.
What are the eligibility criteria for a Used Car Loan in Khammam?
To be eligible for a Used Car Loan in Khammam, you must be an Indian citizen, have reached 21* years of age, and not be older than 59* years at loan completion. Income criteria will vary based on the specific vehicle type, its age, and your selected repayment period.
What is the interest rate on a Used Car Loan?
Interest rates for Used Car Loans provided by Shriram Finance start from 10%* p.a.. The exact rate offered will be influenced by various elements of your financial profile.
What documents are required for a Used Car Loan in Khammam?
Required documentation comprises a fully completed application form, the vehicle's registration papers, KYC documents, proof of your income, and recent banking statements. Document requirements may vary depending on your individual situation and the requested loan amount.
What is the processing fee for a Used Car Loan?
Shriram Finance imposes 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 Khammam?
Shriram Finance provides financing for up to 85%* of the vehicle's determined value, requiring you to contribute the remaining 15%* as a down payment.
Can I apply for a Used Car Loan online in Khammam?
Yes, you can conveniently apply for a Used Car Loan online through Shriram Finance's official website or by using the Shriram One mobile application with minimal steps.
What is the maximum loan amount I can get for a used car in Khammam?
The maximum funding available for a Used Car Loan is up to 85%* of the vehicleâs appraised value, with minimum loan amounts 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.