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Used Car Loans in Palakkad
For individuals in Palakkad seeking reliable yet affordable cars, second-hand vehicles are worth considering. Shriram's Used Car Loans in Palakkad offer plans that suit local needs, with interest rates starting at 10%* p.a. and up to 85%* financing of the car's value. Quick and simple online applications make the process stress-free. Refer to this guide for details on securing a Used Car Loan in Palakkad.
Used Car Loan Types in Palakkad
In Palakkad, Shriram Finance presents a range of used car loan options designed to meet the diverse needs of customers. It's recommended to carefully evaluate each loan option to determine the one that aligns best with your individual financial circumstances and specific requirements.
Pre-Owned Car Loan
Car Refinancing (Loan Against Car)
Features and Benefits of Used Car Loans in Palakkad
High Financing Percentage
Competitive Interest Rates
Flexible Repayment Terms
Timely Payment Reminders
Easy Online Application
Customised Loan Solutions
Car Refinancing Options
Dedicated Customer Service
Used Car Loan Interest Rates in Palakkad
Shriram Used Car Loan Interest Rates in Palakkad begin at a competitive rate of 10%* p.a., which ensures that our financing options are not only appealing but also budget friendly. Our interest rates are thoughtfully structured to promote manageable repayment schedules, making second-hand car ownership an economically feasible option.
| 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 |
Take advantage of our second-hand car loan EMI calculator to estimate your potential interest costs and monthly instalments. This valuable tool can assist you in organising your finances before committing to a loan.
How to Use the Used Car Loan EMI Calculator
To effectively use the pre-owned car loan EMI calculator, simply enter the loan amount you are considering and select the repayment period that you prefer. The calculator will then immediately provide you with an estimate of your monthly EMI, which can help you in refining your financial planning. This straightforward tool clearly illustrates how varying loan amounts and repayment durations can affect your monthly payments, empowering you to choose the option that is most appropriate 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 Palakkad
Shriram Finance provides excellent car refinancing options in Palakkad, enabling you to tap into the value of your existing vehicle for immediate funds without needing to sell it. This service is a great way to leverage your car's worth for various financial needs. Our refinancing solutions come with competitive interest rates and flexible repayment plans, allowing you to manage your finances comfortably while still using your car. This option is available if there are no existing loans on the vehicle, making it a practical financial choice.
Eligibility and Documentation Criteria for Used Car Loans in Palakkad
To assess your used car loan eligibility online, you'll need to meet these essential criteria. These documents may vary based on the applicant's profile and the loan amount.
Eligibility Criteria:- Age: Applicant must be between 21*-59* years at loan maturity.
- Residency: All Indian residents.
- Income: These will vary depending on the specifics of the vehicle, its age, and the chosen repayment timeline.
Required Documents- 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 Palakkad
Apply for a Used Car Loan is simple; follow these steps:
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 Palakkad
Utilise our easy branch locator tool on the Shriram Finance website to find the closest branch in Palakkad or surrounding areas.
Locate Us
Used Car Loan Customer Care in Palakkad
Shriram Finance is dedicated to delivering outstanding customer care in Palakkad, ensuring you get expert assistance with all your pre-owned car loan inquiries. You can contact us by phone or visit one of our local branches for personalised support.
Used Car Loan Status in Palakkad
To check your Used Car Loan Status in Palakkad, securely log into your account on the Shriram Finance website and navigate to the 'Loan Status' section. Enter your application number or loan account number to get the latest updates. Alternatively, feel free to reach out to our knowledgeable customer care team directly or visit one of our conveniently located branches for inquiries about your loan status. We are committed to keeping you informed at every 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 Palakkad?
Yes, you can get a Used Car Loan in Palakkad from us. We offer adaptable and convenient financing options for pre-owned vehicles.
What are the eligibility criteria for a Used Car Loan in Palakkad?
To be eligible for a Used Car Loan, you must be an Indian resident, at least 21* years old, and not more than 59* years old at loan maturity. The income requirement varies based on the vehicle 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. but the exact rate may vary based on individual factors.
What documents are required for a Used Car Loan in Palakkad?
Required documents include an application form, registration certificate of the vehicle, KYC documents, income proof, and bank statements. The exact list may vary based on your profile and loan amount.
What is the processing fee for a Used Car Loan?
The processing fee for a Used Car Loan is up to 5%* of the loan amount.
What is the down payment required for a Used Car Loan in Palakkad?
We offer financing of up to 85%* of the vehicle's value, which means you need to pay a down payment covering the remaining 15%*.
Can I apply for a Used Car Loan online in Palakkad?
Yes, you can apply for a Used Car Loan online through the Shriram Finance website or Shriram One mobile app in a few easy steps.
What is the maximum loan amount I can get for a used car in Palakkad?
The maximum loan amount for a Used Car Loan is up to 85%* of the vehicle's value, with a minimum loan amount 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.