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Used Car Loans in Motihari
Motihari, known for its historical significance and growing economy, is seeing an increasing demand for personal vehicles. Purchasing a pre-owned car is a cost-effective choice for many, offering the convenience of ownership without the high cost of a new vehicle. Used car loans make this process even easier by providing financial assistance tailored to your needs. Shriram Finance offers used car loans in Motihari with competitive interest rates and flexible repayment options, ensuring a seamless borrowing experience. Whether you are buying your first car or upgrading to a newer model, our financing solutions help you achieve your goal without financial stress. Apply online or visit a branch to explore loan options that suit your budget and requirements.
Used Car Loan Types in Motihari
Shriram Finance provides various used car loan types in Motihari solutions to cater to different customer needs. Choose the right loan option based on your financial preferences.
Pre-Owned Car Loan
Loan Against Car (Car Refinancing)
Features and Benefits of Used Car Loans in Motihari
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 Motihari
With interest rates starting at 10%* p.a., Shriram Finance makes used car loans in Motihari affordable and accessible. Our competitive rates help you manage repayments comfortably while making pre-owned vehicle ownership easier. Below is a summary of the key charges and fees for our financing solutions.
| 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 |
Use our second-hand car loan EMI calculator to estimate your potential interest rate and monthly instalments. This tool allows you to plan your repayment strategy before applying.
How to Use the Used Car Loan EMI Calculator
To calculate your pre-owned car loan EMI, select your loan amount and tenure. The calculator will instantly display your estimated monthly payment, helping you budget effectively. This easy-to-use tool helps you understand the impact of different loan terms on your finances.
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 Motihari
Shriram Finance provides a car refinancing service in Motihari, which allows you to borrow against your car's value. This means you can get cash without selling your vehicle. We offer this service with competitive interest rates and flexible repayment options, given that the vehicle is free of any other loans.
Eligibility and Documentation Criteria for Used Car Loans in Motihari
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 Motihari
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 Motihari
Shriram Finance is available in Motihari to assist with your second-hand car loan needs. Use our branch locator to find the nearest branch for expert guidance.
Locate Us
Used Car Loan Customer Care in Motihari
Our customer care team in Motihari is here to support all pre-owned car loan inquiries. Contact us via phone or visit a branch for personalised assistance. Below are our customer care numbers for used car loans.
Used Car Loan Status in Motihari
Check your used car loan status in Motihari by logging into your Shriram Finance account, selecting 'Loan Status,' and entering your application or loan number. You can also call customer support or visit a branch for updates. Our goal is to ensure you are well-informed at each step of the loan process.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a used car loan in Motihari?
Yes, we provide used car loans in Motihari with flexible financing options to help you own a pre-owned vehicle effortlessly.
What are the eligibility criteria for a used car loan in Motihari?
To apply for a used car loan with Shriram Finance, you must be an Indian resident aged 21* to 59* years at loan maturity. Your income eligibility is determined by factors such as the car's 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., though the final rate is subject to individual factors.
What documents are required for a used car loan in Motihari?
You will need to submit an application form, vehicle registration certificate, KYC documents, income proof, and bank statements. The exact document requirements may vary depending on your profile and loan amount.
What is the processing fee for a used car loan?
Shriram Finance charges a processing fee of up to 5%* of the loan amount for a used car loan.
What is the down payment required for a used car loan in Motihari?
We offer financing of up to 85%* of the car's value, meaning you will have to pay the remaining 15%* as a down payment.
Can I apply for a used car loan online in Motihari?
Yes, you can apply for a used car loan online by visiting the Shriram Finance website or Shriram One mobile app and completing a few steps.
What is the maximum loan amount I can get for a used car in Motihari?
The maximum loan you can avail is up to 85%* of the vehicle's value, with the minimum loan amount being ₹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.