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Used Car Loans in Muktsar
Muktsar is a city experiencing steady growth in connectivity. With improved transportation links, owning a vehicle has become more essential for residents. For those looking to purchase a second-hand car, used car loans in Muktsar provide an excellent opportunity to make this dream a reality. Shriram Finance stands out as a trusted partner in this journey. Our used car loans come with competitive interest rates starting at just 10%* p.a. If budget issues are hindering your car purchase, consider a used car loan to acquire your desired vehicle. With suitable financial assistance from Shriram Finance, owning a car is easy.
Used Car Loan Types in Muktsar
To meet different financial needs, Shriram Finance provides multiple used car loan types in Muktsar. Choose the loan that best fits your financial situation.
Pre-Owned Car Loan
Loan Against Car (Car Refinancing)
Features and Benefits of Used Car Loans in Muktsar
Flexible Repayment Tenures
High Financing Percentage
Regular Reminders
Competitive Interest Rates
Car Refinancing Options
Dedicated Customer Service
Customised Loan Solutions
Easy Online Application
Used Car Loan Interest Rates in Muktsar
Shriram Finance provides used car loan interest rates in Muktsar starting at 10%* p.a., making financing cost-effective. Our loan structure enables you to own a pre-owned car without financial strain. Check the table below to understand the breakdown of the 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 can be used to determine your interest rate and monthly instalments. Use it to plan your loan repayment before applying.
How to Use the Used Car Loan EMI Calculator
Enter your preferred loan amount and tenure in the pre-owned car loan EMI calculator for an instant estimate of your monthly instalments. This tool allows you to compare repayment options and choose the most feasible 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
âı 1,00,000
Interest Payable
âı 8,103
Monthly EMI
âı 6,006
Car Refinancing in Muktsar
Residents of Muktsar can benefit from Shriram Finance's car refinancing service, which allows you to use your car's equity to secure funds while keeping the vehicle. This facility comes with competitive interest rates and flexible repayment terms, provided your car is free from existing loans.
Eligibility and Documentation Criteria for Used Car Loans in Muktsar
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 Muktsar
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 Muktsar
Shriram Finance is available in Mukstar to help you with your pre-owned car loan queries. Use our branch locator tool to find the nearest branch.
Locate Us
Used Car Loan Customer Care in Muktsar
Our customer support team in Muktsar is available to assist you with any queries related to your used car loan. You can contact us by phone or visit a branch for personalised support.
Used Car Loan Status in Muktsar
You can check your used car loan status in Muktsar by logging into your Shriram Finance account, selecting 'Loan Status,' and entering your loan or application number. You may also contact customer care or visit a branch for the latest updates. Get easy and accessible used car financing in Muktsar with Shriram Finance.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a used car loan in Muktsar?
Yes, we offer used car loans in Muktsar with convenient financing options to help you own a second-hand car affordably.
What are the eligibility criteria for a used car loan in Muktsar?
To apply for a used car loan in Muktsar, you must be an Indian resident aged between 21* years and 59* years at the time of loan maturity. Your eligibility is assessed based on the car's age, model, and loan 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 depends on factors like credit profile and loan terms.
What documents are required for a used car loan in Muktsar?
You will need to submit a completed application form, your car's registration certificate, KYC documents, proof of income, and bank statements. Document requirements may vary based on your loan amount and eligibility.
What is the processing fee for a used car loan?
A processing fee of up to 5%* of the loan amount is charged on used car loans.
What is the down payment required for a used car loan in Muktsar?
You can receive up to 85%* financing, requiring a minimum down payment of 15%* of the vehicle's price.
Can I apply for a used car loan online in Muktsar?
Yes, you can apply online via the Shriram Finance website or through the Shriram One mobile app.
What is the maximum loan amount I can get for a used car in Muktsar?
Shriram Finance provides up to 85%* of the car's value as a loan, 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.