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Used Car Loans in Muzaffarpur
In Muzaffarpur, the expanding economy and road network have increased the need for private vehicles. Owning a car ensures seamless mobility, whether for work, business, or personal travel. A used car is an economical choice that offers all the benefits of car ownership at a lower cost. Shriram Finance provides used car loans in Muzaffarpur, offering loan amounts starting from ₹1 lakh* with repayment tenures of up to 48 months. With competitive interest rates and a hassle-free application process, financing a pre-owned vehicle is simple. Secure your loan today and enjoy the comfort of owning a car in Muzaffarpur.
Used Car Loan Types in Muzaffarpur
Shriram Finance provides the following used car loan types in Muzaffarpur to meet various customer needs. Pick the loan option that aligns with your financial goals.
Pre-Owned Car Loan
Loan Against Car (Car Refinancing)
Features and Benefits of Used Car Loans in Muzaffarpur
Regular Reminders
Competitive Interest Rates
High Financing Percentage
Flexible Repayment Tenures
Easy Online Application
Customised Loan Solutions
Car Refinancing Options
Dedicated Customer Service
Used Car Loan Interest Rates in Muzaffarpur
With Shriram Finance, you can finance your used car affordably. Used car loan interest rates in Muzaffarpur start from 10%* p.a., ensuring stress-free repayments. Refer to the table below for a detailed breakdown of applicable fees:
| 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 are encouraged to utilise our second-hand car loan EMI calculator to determine estimated monthly instalments prior to submitting an application.
How to Use the Used Car Loan EMI Calculator
To see what your monthly instalments might be for a used car loan in Muzaffarpur, enter the loan amount and the repayment period. Our pre-owned car loan calculator will give you an instant estimate.
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 Muzaffarpur
Shriram Finance offers car refinancing services in Muzaffarpur, helping you to leverage the value of your vehicle to meet diverse financial needs. This service is made for people without an existing car loan, as refinancing requires clearing any prior loans on the vehicle. Key advantages include attractive interest rates, flexible repayment options, minimal paperwork, and swift approvals.
Eligibility and Documentation Criteria for Used Car Loans in Muzaffarpur
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 Muzaffarpur
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 Muzaffarpur
Shriram Finance is available in Muzaffarpur to assist with your used car loan needs. You can visit the nearest branch for personalised guidance. Use the branch locator tool to find the branch closest to you,
Locate Us
Used Car Loan Customer Care in Muzaffarpur
For any questions regarding your used car loan in Muzaffarpur, Shriram Finance's customer service team is ready to help. Here are our customer care numbers:
Used Car Loan Status in Muzaffarpur
To check the progress of your used car loan in Muzaffarpur, log into your Shriram Finance account online and navigate to the 'Loan Status' section. Enter your application or loan account number for details. You can also contact customer care or visit a branch for updates. We aim to keep you informed throughout every stage of the process.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a used car loan in Muzaffarpur?
Yes, Shriram Finance provides convenient financing options for purchasing used cars in Muzaffarpur to suit your financial needs.
What are the eligibility criteria for a used car loan in Muzaffarpur?
To qualify, you need to be an Indian resident aged between 21* and 59* years at the maturity of the loan. Income eligibility varies based on factors like vehicle age and tenure.
What is the interest rate on a used car loan?
Interest rates begin at 10%* p.a. for used car loans; however, they may vary based on individual circumstances and other factors.
What documents are required for a used car loan in Muzaffarpur?
The necessary documents include an application form, KYC details, proof of income, bank statements, and vehicle registration papers. Specific requirements may differ depending on your profile.
What is the processing fee for a used car loan?
Processing fees can be as high as up to 5%* of the total approved amount based on your chosen terms.
What is the down payment required for a used car loan in Muzaffarpur?
A minimum down payment of 15%* is required since up to 85%* of the vehicle's value can be financed by Shriram Finance.
Can I apply for a used car loan online in Muzaffarpur?
Yes, you can conveniently apply online via Shriram Finance's official website or through our Shriram One mobile app with an easy-to-follow process.
What is the maximum loan amount I can get for a used car in Muzaffarpur?
Shriram Finance offers loans covering up to 85%* of your vehicle's value with amounts starting from ₹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.