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Used Car Loans in Malerkotla
For many in Malerkotla, a personal vehicle is essential for both convenience and independence. However, purchasing a brand-new car might not always be financially feasible. Therefore, used car loans allow you to purchase a pre-owned car without needing to pay the entire amount upfront. This spreads the cost over time, making it more affordable. Shriram Finance provides used car loans in Malerkotla to make used car ownership easy and budget-friendly. We offer a selection of loan tenures, enabling you to design a repayment plan that works for you. Get started today by applying online or visiting a branch for expert assistance.
Used Car Loan Types in Malerkotla
To accommodate various financial needs, Shriram Finance presents multiple used car loan options in Malerkotla. Select the loan type that suits your needs.
Pre-Owned Car Loan
Loan Against Car (Car Refinancing)
Features and Benefits of Used Car Loans in Malerkotla
Flexible Repayment Tenures
High Financing Percentage
Regular Reminders
Competitive Interest Rates
Car Refinancing Options
Customised Loan Solutions
Easy Online Application
Dedicated Customer Service
Used Car Loan Interest Rates in Malerkotla
Shriram Finance offers used car loan interest rates in Malerkotla starting at 10%* p.a. in Malerkotla, making financing cost-effective. Our loan structure ensures manageable repayments, enabling you to buy a pre-owned car without financial strain. Below is a breakdown of associated fees and charges:
| 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 |
Our second-hand car loan EMI calculator allows you to quickly estimate monthly payments. Use it to plan for your loan repayment before applying.
How to Use the Used Car Loan EMI Calculator
Simply enter your loan amount and repayment tenure into our pre-owned car loan EMI calculator, which will provide you with an immediate estimate of your monthly instalment. This tool helps you compare various loan options to find the most suitable one 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 Malerkotla
For residents of Malerkotla, Shriram Finance offers the opportunity to leverage your car's value through refinancing. This process allows you to secure funds while retaining your vehicle. You can benefit from competitive interest rates and adaptable repayment plans. We provide car refinancing specifically for vehicles free of prior loan obligations.
Eligibility and Documentation Criteria for Used Car Loans in Malerkotla
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:- Age: Minimum 21* years, with a maximum age of 59* years at loan maturity.
- Residency: All Indian residents.
- Income: Requirements vary based on the vehicle model, age, and repayment tenure.
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. These documents may vary based on the applicant's profile and the loan amount.
Step-by-Step Application Process for Used Car Loans in Malerkotla
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 Malerkotla
Get help with your used car loan by visiting a Shriram Finance branch in Malerkotla. Find your nearest branch with our branch locator.
Locate Us
Used Car Loan Customer Care in Malerkotla
Our customer support team in Malerkotla is ready to assist you with any pre-owned car loan queries. You can contact us via phone or visit a branch for prompt service.
Used Car Loan Status in Malerkotla
To track your used car loan in Malerkotla, simply log in to your Shriram Finance account, navigate to 'Loan Status,' and input your application or loan details. For immediate updates, you can also reach out to customer support or visit a local branch. Shriram Finance simplifies used car ownership in Malerkotla with accessible loan options and helpful branch support.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a used car loan in Malerkotla?
Yes, used car loans are available in Malerkotla, offering convenient financing options for pre-owned vehicles.
What are the eligibility criteria for a used car loan in Malerkotla?
To qualify for a used car loan in Malerkotla, you generally need to be an Indian resident between 21* and 59* years old at loan maturity. Your income requirements will depend on the car model, age, and repayment tenure.
What is the interest rate on a used car loan?
The interest rate for used car loans typically starts at around 10%* p.a., but the exact rate can vary based on your individual profile.
What documents are required for a used car loan in Malerkotla?
To process your application, we need a completed form, vehicle registration, KYC, income proof, and bank statements. Note that document needs may change with your profile and the loan amount.
What is the processing fee for a used car loan?
A processing fee of up to 5%* of the loan amount may apply to used car loans.
What is the down payment required for a used car loan in Malerkotla?
We provide loans for up to 85%* of the car's valuation, and you must provide the remaining 15%* as a down payment.
Can I apply for a used car loan online in Malerkotla?
Yes, you can apply for a used car loan online via the Shriram Finance website or the Shriram One mobile app.
What is the maximum loan amount I can get for a used car in Malerkotla?
Shriram Finance provides financing 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.