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Used Car Loans in Mohali
Mohali's rapid urbanisation and expanding road network have increased the need for personal vehicles. Owning a car is essential for convenient travel, whether for work or daily commuting. Opting for a second-hand vehicle is a smart financial choice, offering affordability without compromising on quality. With used car loans in Mohali, you can get the necessary funding to help you purchase a reliable pre-owned car with ease. Shriram Finance offers tailored financing solutions with competitive interest rates and flexible repayment options. Whether you are a first-time buyer or looking to upgrade, our loan options ensure a smooth and stress-free car ownership experience. Apply online or visit a branch to explore the best loan offers and take the next step towards owning your car.
Used Car Loan Types in Mohali
To meet different financial needs, Shriram Finance provides multiple used car loan types in Mohali:
Pre-Owned Car Loan
Loan Against Car (Car Refinancing)
Features and Benefits of Used Car Loans in Mohali
Competitive Interest Rates
Flexible Repayment Tenures
High Financing Percentage
Regular Reminders
Easy Online Application
Car Refinancing Options
Dedicated Customer Service
Customised Loan Solutions
Used Car Loan Interest Rates in Mohali
With interest rates commencing from 10%* p.a., Shriram Finance makes used car loans in Mohali both accessible and budget-friendly. Competitive rates ensure affordability, simplifying pre-owned car ownership. Check the table below to understand the applicable rates 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 |
Shriram Finance offers a second-hand car loan EMI calculator to estimate monthly instalments of your pre-owned car loan.
How to Use the Used Car Loan EMI Calculator
Our pre-owned car loan EMI calculator is a helpful tool in determining your monthly repayment. It uses your loan amount and tenure and delivers immediate results, aiding in effective financial planning.
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 Mohali
Shriram Finance enables access to funds by utilising your car's established value through refinancing, without the necessity of selling your vehicle. This service offers immediate cash for various financial requirements while allowing continued vehicle use. We offer car refinancing with favourable interest rates and adaptable repayment schedules. Please note, this option is exclusively available for vehicles with no existing loan obligations.
Eligibility and Documentation Criteria for Used Car Loans in Mohali
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.
Step-by-Step Application Process for Used Car Loans in Mohali
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 Mohali
Shriram Finance operates in Mohali to assist with your second-hand car loan requirements. Use our locator tool to pinpoint the branch nearest to you.
Locate Us
Used Car Loan Customer Care in Mohali
Our customer care representatives in Mohali are prepared to address all inquiries regarding pre-owned car loans. You can contact us by telephone or visit a local branch. A table detailing customer care information is provided below:
Used Car Loan Status in Mohali
To check your used car loan status, access your Shriram Finance account and proceed to the 'Loan Status' section. Input your application or loan account number for updates or contact our customer care. Our aim is to ensure you are well-informed throughout each phase of the loan process.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a used car loan in Mohali?
Yes, Shriram Finance provides used car loans in Mohali with flexible financing options to facilitate easy ownership of a second-hand vehicle.
What are the eligibility criteria for a used car loan in Mohali?
To qualify for a used car loan in Mohali, you must be an Indian resident aged between 21* and 59* years at loan maturity. Your eligibility also depends on factors like the vehicle's model, age, and repayment duration.
What is the interest rate on a used car loan?
Interest rates begin at 10%* p.a., but the final rate will vary based on several factors, including your credit history.
What documents are required for a used car loan in Mohali?
Applicants must provide an application form, vehicle registration certificate, KYC documents, income proof, and bank statements. Document requirements may vary based on the loan amount and your specific profile.
What is the processing fee for a used car loan?
A processing fee of up to 5%* of the loan amount is applicable for a used car loan.
What is the down payment required for a used car loan in Mohali?
Shriram Finance funds up to 85%* of the vehicle's value, meaning you are required to cover the remaining 15%* as a down payment.
Can I apply for a used car loan online in Mohali?
Yes, you can apply online through the Shriram Finance website or the Shriram One mobile app in a few simple steps.
What is the maximum loan amount I can get for a used car in Mohali?
The loan amount can reach up to 85%* of the car's value, with a minimum loan amount of 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.