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Used Car Loan in Ratlam
A Used Car Loan in Ratlam from Shriram Finance helps you arrange funds for your vehicle without financial strain. Instead of paying a lump sum, you can opt for structured repayment, making ownership more manageable. Whether upgrading your car or buying your first one, understanding the eligibility criteria, required documents, and loan process will simplify your journey. Here's a detailed guide to help you move forward with confidence.
Used Car Loan Types in Ratlam
Shriram Finance offers second-hand car loan options in Ratlam to support customers looking for easy financing. Choose a loan that fits your budget and financial plans.
Loan Against Car (Car Refinancing)
Pre-Owned Car Loan
Features and Benefits of Used Car Loan in Ratlam
High Financing Percentage
Competitive Interest Rates
Flexible Repayment Tenures
Regular Reminders
Customised Loan Solutions
Car Refinancing Options
Dedicated Customer Service
Easy Online Application
Used Car Loan Interest Rates in Ratlam
The Used Car Loan in Ratlam from Shriram Finance comes with attractive interest rates starting at 10%* p.a., making it a cost-effective financing option. These rates are designed to keep your loan repayments simple and affordable, ensuring stress-free ownership of a pre-owned car. Below is a detailed breakdown of the charges and fees applicable to 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 |
You may also use our second-hand car loan EMI calculator to calculate your estimated EMIs and interest rates. This tool helps you plan your monthly payments efficiently.
How to Use the Used Car Loan EMI Calculator
Using the pre-owned car loan calculator is easy. Simply select your preferred loan amount and tenure, and the calculator will instantly show your estimated EMI. This gives you a clear understanding of your repayment plan before applying. The tool also helps you see how different loan amounts and tenures impact your EMI, allowing you to choose wisely. It is a useful way to ensure your loan aligns with 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 Ratlam
With car refinancing options in Ratlam from Shriram Finance, you can unlock extra funds by using your car's value without selling it. This option helps you meet urgent financial needs while keeping your vehicle. We provide competitive interest rates and flexible repayment terms to make repayment easier. This facility is only available if there are no existing loans on the car, making it a great financial solution for those looking for quick funds.
Eligibility and Documentation Criteria for Used Car Loan in Ratlam
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:- Residency: All Indian residents.
- Age: Minimum 21* years, with a maximum age of 59* years at loan maturity.
- 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 Loan in Ratlam
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 Ratlam
Shriram Finance has branch services in Ratlam to make banking and loan services easily accessible for you. These branches are located in key parts of the city so that you can visit without hassle. A few important locations are:
Locate Us
Used Car Loan Customer Care in Ratlam
To assist you better, Shriram Finance offers special customer care services in Ratlam for all Pre-owned Car Loan-related questions. You can reach out to us over the phone or visit a nearby branch for personalised help. Below are our used car loan customer care numbers:
Used Car Loan Status in Ratlam
To track your Used Car Loan Status in Ratlam, log in to your account on the Shriram Finance website. Go to the 'Loan Status' page and submit your application number or loan account number. You may also contact our customer care or visit one of our branches. We keep you updated about your loan at all stages.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a Used Car Loan in Ratlam?
Yes, used car loans are available in Ratlam from Shriram Finance. The process is simple with flexible options and fast approval.
What are the eligibility criteria for a Used Car Loan in Ratlam?
Indian residents aged 21* to 59* years are eligible. Income requirements are based on the car's condition and the loan period.
What is the interest rate on a Used Car Loan?
Rates start at 10%* p.a. but depend on applicant's profile and car model.
What documents are required for a Used Car Loan in Ratlam?
You will need an application form, KYC, bank statements, income proof, and a registration certificate for the vehicle.
What is the processing fee for a Used Car Loan?
Processing charges are up to 5%* of the loan. Full details are available on Shriram Finance website.
What is the down payment required for a Used Car Loan in Ratlam?
up to 85%* of the car value is financed. You must pay 15%* as a down payment.
Can I apply for a Used Car Loan online in Ratlam?
Yes, the online application is available on Shriram Finance website and Shriram One app.
What is the maximum loan amount I can get for a used car in Ratlam?
Loan is up to 85%* of car value, minimum ₹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.