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Used Car Loans in Kottayam
Second-hand cars are an ideal choice for Kottayam residents who want cost-effective transport. Shriram's Used Car Loans in Kottayam include flexible options, interest rates starting from 10%* p.a., and coverage up to 85%* of the car's value. The online application system guarantees quick and smooth decisions. Check this guide to discover how to apply for a Used Car Loan in Kottayam.
Used Car Loan Types in Kottayam
Different Types of Used Car Loans in Kottayam Shriram Finance provides various options for Used Car Loans to cater to diverse needs in Kottayam:
Pre-Owned Car Loan
Car Refinancing (Loan Against Car)
Features and Benefits of Used Car Loans in Kottayam
High Financing Percentage
Affordable Interest Rates
Flexible Repayment Options
Timely Payment Reminders
Simple Online Application
Personalised Loan Solutions
Car Refinancing Options
Dedicated Support Team
Used Car Loan Interest Rates in Kottayam
Shriram Finance offers Used Car Loan interest rates starting at an economical 10%* p.a., making the financing options practical and affordable. These rates are thoughtfully designed to support sustainable repayment schedules, making it easier for residents to own second-hand cars without overburdening their budgets.
| 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 |
Additionally, the second-hand car loan EMI calculator enables you to estimate potential interest costs and monthly installments. This tool assists in organising your finances before committing to a loan, ensuring better financial planning.
How to Use the Used Car Loan EMI Calculator
Using the pre-owned car loan EMI calculator is straightforward. Enter your desired loan amount and select the preferred repayment tenure. The calculator will instantly generate your estimated monthly EMI, helping you refine your financial strategy. This tool makes it simple to visualise how varying loan amounts and repayment periods affect monthly payments, allowing you to identify the most suitable option for 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
₹ 1,00,000
Interest Payable
₹ 8,103
Monthly EMI
₹ 6,006
Car Refinancing in Kottayam
In Kottayam, Shriram Finance offers beneficial car refinancing options that let you use the value of your current vehicle to secure immediate funds without selling it. This service is an ideal way to utilise your car's value for various financial requirements. Our refinancing options feature attractive interest rates and flexible repayment schedules, ensuring you can manage your finances effectively while keeping your vehicle. This option is available when there are no outstanding loans on the car, making it a convenient solution.
Eligibility and Documentation Criteria for Used Car Loans in Kottayam
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 Kottayam
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 Kottayam
We invite you to use the convenient branch locator tool on the Shriram Finance website to identify the nearest branch in Kottayam or nearby regions.
Locate Us
Used Car Loan Customer Care in Kottayam
At Shriram Finance, we prioritise providing exceptional customer care services in Kottayam, guaranteeing you receive professional help with all your pre-owned car loan questions. Feel free to reach us via telephone or visit a nearby branch for tailored assistance.
Used Car Loan Status in Kottayam
To view your Used Car Loan Status in Kottayam, log in securely to your account on the Shriram Finance website and head to the 'Loan Status' section. Once there, enter your application or loan account number to receive the most current information. You can also contact our friendly customer care team directly or visit one of our nearby branches to ask about your loan status. We are dedicated to providing you with updates throughout the loan process.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a Used Car Loan in Kottayam?
Yes, you can get a Used Car Loan in Kottayam from us. We offer adaptable and convenient financing options for pre-owned vehicles.
What are the eligibility criteria for a Used Car Loan in Kottayam?
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 Kottayam?
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 Kottayam?
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 Kottayam?
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 Kottayam?
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 ₹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.