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Used Car Loans in Phek
Phek is gradually expanding with better roads and growing transportation needs. Owning a vehicle here is essential for easy mobility. However, buying a brand-new car may not always be practical. This is where used car loans in Phek allow you to purchase a second-hand car without straining your finances. Shriram Finance makes this process seamless with competitive interest rates starting at 10%* p.a. Whether you need a car for daily travel or business use, you can finance it conveniently with quick approvals. The minimal documentation requirement further speeds up the process, making it hassle-free. With the right financial support, upgrading to a personal vehicle in Phek becomes more accessible than ever.
Used Car Loan Types in Phek
Shriram Finance provides various used car loan types in Phek solutions to cater to different customer needs. Identify the loan category that meets your needs and financial position.
Pre-owned car loan
Loan against car (Car refinancing)
Features and Benefits of Used Car Loans in Phek
Flexible repayment tenures
High financing percentage
Competitive interest rates
Regular reminders
Easy Online Application
Car Refinancing Options
Dedicated Customer Service
Customised Loan Solutions
Used Car Loan Interest Rates in Phek
Our used car loan interest rates in Phek initiate at 10%* p.a., delivering competitive and economical financing solutions. Our interest structure is designed to facilitate comfortable management of loan repayments. Refer to this table detailing a summary of the principal charges and fees associated with our used car loan:
| 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 |
Before you apply for a second-hand car loan, use our second-hand car loan EMI calculator. It provides an estimate of your potential interest rate and monthly payments
How to Use the Used Car Loan EMI Calculator
Using our pre-owned car loan calculator is straightforward. Just enter your desired loan amount and the loan tenure. Instantly, the calculator will display your estimated monthly EMI, allowing you to quickly visualise your repayment obligations.
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 Phek
In Phek, Shriram Finance provides car refinancing, a smart way to access immediate funds using your car's value. This enables you to obtain quick capital for diverse financial needs without needing to sell your car. We offer competitive interest rates and flexible repayment plans, allowing you to manage your finances while keeping your car. This service is available if your car is free of existing loans.
Eligibility and Documentation Criteria for Used Car Loans in Phek
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 Phek
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 Phek
Shriram Finance is committed to providing accessible service in Phek. To find the branch nearest to you, we recommend using our online branch locator tool.
Locate Us
Used Car Loan Customer Care in Phek
Need help with a pre-owned car loan in Phek? Shriram Finance's dedicated customer care team is here to provide personalised assistance. Contact us by phone or visit a branch near you.
Used Car Loan Status in Phek
Check your used car loan status in Phek easily online. Log in to your Shriram Finance account, go to 'Loan Status,' and enter your application or loan number. If you prefer, call our customer care or visit a branch. We'll keep you updated throughout the process.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a used car loan in Phek?
Yes, we offer flexible used car loans in Phek to make owning a pre-owned vehicle a smooth and effortless experience.
What are the eligibility criteria for a used car loan in Phek?
To be eligible for a used car loan, you need to be an Indian resident, aged between 21* and 59* years at the time of loan maturity. Specific income requirements depend on the car's model, age, and your chosen repayment period.
What is the interest rate on a used car loan?
The interest rate for our used car loans starts at 10%* p.a. However, the final rate may vary based on individual factors.
What documents are required for a used car loan in Phek?
Required documentation includes an application form, vehicle registration certificate, KYC documents, income verification, and bank statements. The precise document requirements may vary according to 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 Phek?
We offer financing for up to 85%* of your vehicle's value. You'll need to make a down payment of the remaining 15%*.
Can I apply for a used car loan online in Phek?
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 Phek?
Our loan offerings range from a minimum of âı1 lakh* up to 85%* of the vehicle's value.
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.