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Used Car Loan in Malappuram
Thinking of getting a second-hand car in Malappuram? A Used Car Loan in Malappuram from Shriram Finance can help you arrange the funds without financial stress. Whether you need a car for work, family, or personal use, this loan gives you the flexibility to purchase one without a large upfront payment. Knowing the eligibility, required documents, and loan process in advance can simplify your application. This guide will walk you through the key details to help you get started.
Used Car Loan Types in Malappuram
Shriram Finance has multiple second-hand car loan options in Malappuram to help meet varied customer needs. Choose the right loan that suits your finances and needs.
Pre-Owned Car Loan
Loan Against Car (Car Refinancing)
Features and Benefits of Used Car Loan in Malappuram
Competitive Interest Rates
High Financing Percentage
Regular Reminders
Flexible Repayment Tenures
Dedicated Customer Service
Car Refinancing Options
Easy Online Application
Customised Loan Solutions
Used Car Loan Interest Rates in Malappuram
The Used Car Loan in Malappuram from Shriram Finance provide financing at competitive interest rates starting at 10%* p.a., making it easier to own a used car. These rates are structured to ensure that repayments are simple and within your budget, so you can buy a pre-owned vehicle without added financial pressure. Below is a detailed list of key charges and fees applicable to 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 |
You can try our second-hand car loan EMI calculator to get an idea of your EMIs and interest rate. This easy tool helps you plan repayments ahead of time and decide which loan option is best for you.
How to Use the Used Car Loan EMI Calculator
Using the pre-owned car loan calculator is quick and hassle-free. Just select your loan amount and tenure, and you will get an estimated EMI instantly. This helps you plan your loan repayments in advance. The tool also helps you compare different amounts and tenures, ensuring that you make an informed choice. It is a great way to manage your loan smoothly.
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 Malappuram
Shriram Finance provides car refinancing options in Malappuram, enabling you to unlock funds using your car's value without selling it. This facility ensures you receive financial assistance while continuing to use your vehicle. With competitive interest rates and flexible repayment plans, managing your finances becomes simpler. However, this option is only available if your car is free from an active loan, making it a smart choice for those in need of urgent funds.
Eligibility and Documentation Criteria for Used Car Loan in Malappuram
To check used car loan eligibility online, applicants must meet the following criteria. These documents may vary based on the applicant's profile and the loan amount.
Eligibility Criteria:- Residency: All Indian residents.
- Income: Requirements vary based on the vehicle model, age, and repayment tenure.
- Age: Minimum 21* years, with a maximum age of 59* years at loan maturity.
Required 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 Malappuram
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 Malappuram
To serve you better, Shriram Finance has branches in Malappuram. Our branches are located in important areas, making it convenient for you to reach us. Some key locations include:
Locate Us
Used Car Loan Customer Care in Malappuram
Shriram Finance offers special customer care services in Malappuram to handle all your Pre-owned Car Loan questions. You can call us or visit one of our branches for personal assistance. Below are our used car loan customer care numbers:
Used Car Loan Status in Malappuram
To know your Used Car Loan Status in Malappuram, visit Shriram Finance website and log in to your account. Go to the 'Loan Status' page and enter your loan account number or application number to check the status. You can also get in touch with us by calling our customer care number or visiting any of our branches. We ensure that you stay updated on your loan status throughout the process.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a Used Car Loan in Malappuram?
Yes, Shriram Finance provides Used Car Loans in Malappuram with hassle-free financing options for pre-owned vehicles.
What are the eligibility criteria for a Used Car Loan in Malappuram?
You must be an Indian citizen aged between 21* and 59* years at the end of the loan term. Income eligibility is determined based on vehicle model, age, and loan tenure.
What is the interest rate on a Used Car Loan?
Interest rates start from 10%* p.a., but the exact rate depends on multiple factors, including borrower profile and vehicle type.
What documents are required for a Used Car Loan in Malappuram?
Documents include an application form, KYC papers, proof of income, bank statements, and the vehicle's registration certificate. Additional requirements may vary.
What is the processing fee for a Used Car Loan?
Processing charges go up to 5%* of the loan amount. For specific details, please visit Shriram Finance website and refer to the interest rate policy.
What is the down payment required for a Used Car Loan in Malappuram?
up to 85%* of the car's value can be financed, and the remaining 15%* must be paid as a down payment.
Can I apply for a Used Car Loan online in Malappuram?
Yes, applications can be submitted online through Shriram Finance website or Shriram One mobile app.
What is the maximum loan amount I can get for a used car in Malappuram?
Loan amount can go up to 85%* of the vehicle'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.