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Used Car Loans in Vellore
In Vellore, owning a car is a practical choice for many individuals. Shriram Finance offers Used Car Loans in Vellore with adaptable financing options, making pre-owned vehicle purchases more accessible. With interest rates starting at 10%* p.a. and financing up to 85%* of the vehicle's value, owning a used car becomes more achievable. The online application process is straightforward, ensuring quick approval and minimal hassle.
Used Car Loan Types in Vellore
Shriram Finance offers customised second-hand car loan solutions to accommodate various customer needs:
Pre-Owned Car Loan
Car Refinancing (Loan Against Car)
Features and Benefits of Used Car Loans in Vellore
Attractive Interest Rates
Flexible Repayment Options
Substantial Financing
Helpful Payment Reminders
Streamlined Digital Application
Refinancing Opportunities
Responsive Customer Support
Tailored Loan Packages
Used Car Loan Interest Rates in Vellore
Shriram Finance offers Used Car Loans in Vellore with competitive interest rates starting at 10%* p.a., designed to provide accessible and budget-friendly financing. Our rates are structured to support manageable repayment schedules, ensuring that owning a pre-owned car remains economically viable.
| 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 |
Utilise our pre-owned car loan EMI calculator to estimate your potential interest obligations and EMIs, empowering you to better plan your finances.
How to Use the Used Car Loan EMI Calculator
To utilise the used car loan calculator effectively, enter your desired loan amount and intended repayment period. The calculator will rapidly compute your estimated monthly EMI, allowing you to fine-tune your financial planning. This user-friendly tool is designed to illustrate how adjustments in loan amounts and repayment terms impact your monthly commitments, helping you choose the best option for your financial situation.
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 Vellore
In Vellore, Shriram offers enticing car refinancing options that allow you to tap into the value of your vehicle for immediate funds without needing to sell it. This service converts your vehicle equity into cash, which can greatly assist in addressing various financial requirements. Our refinancing solutions come with competitive interest rates and flexible repayment structures, making it easy to manage your finances while maintaining ownership of your car. This is particularly beneficial for those who own their vehicles outright and are looking for quick access to funds.
Eligibility and Documentation Criteria for Used Car Loans in Vellore
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 Vellore
Applying 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 Vellore
Shriram Finance boasts a widespread branch network in Vellore, committed to delivering superior customer service. Key locations include:
Locate Us
Used Car Loan Customer Care in Vellore
In Vellore, Shriram Finance provides exceptional customer service for all Pre-owned Car Loan queries. You can contact us by phone or visit our branch in person to receive tailored assistance. Our dedicated customer care team is always available to provide support and clarity.
Used Car Loan Status in Vellore
In Vellore, Shriram Finance makes it easy to check your Used Car Loan status. Simply log into your account on our website, access the 'Loan Status' section, and enter your application or loan account number. You can also reach out to our customer service team or visit a local branch for assistance. We are committed to keeping you well-informed throughout the loan process.
Used Car Loan in Major Cities in India
Used Car Loan FAQs
Can I get a Used Car Loan in Vellore?
Yes, you can get a Used Car Loan in Vellore from us. We offer adaptable and convenient financing options for pre-owned vehicles.
What are the eligibility criteria for a Used Car Loan in Vellore?
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 Vellore?
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 Vellore?
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 Vellore?
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 Vellore?
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 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.