If you don’t have the sufficient amount to buy a car, then you can apply for a used car loan vizag. LoanOnMind provides car finance for used cars at low rates of interest. We offer door step service for used car loan in Vizag. Apply online for pre owned car loans at LoanOnMind and our executives will come to your home for collecting the documents required for used car loans. Compare interest rates of different banks in India and get the best second hand car loan in Vizag.
Age: The applicant’s age should be 21 to 75 years but no more than 75 years old at the time of loan maturity.
Nationality: Indian nationality people can only avail used car loans
Minimum Income: The minim salary of Rs. 10,000 is expected
Employment Type: Salaried and Self Employed Individuals can avail loans
Loan Tenure: The loan tenure ranging from 1 to 5 years
Credit Score: Banks consider a good credit score of 750 and above
The eligibility criteria will be different from lender to lender. You will check exact criteria of your chosen lender.
These are the common documents that you need to submit while applying for a car loan
Loan application form with photograph
Residence Proof: Xerox copies of recent telephone/ electricity bill
Identity Proof: Xerox copies of Voter ID card/ Passport/ PAN cars/ Aadhar card/ Driving License
Last 6 months bank statements
Last 3 years Income Tax Returns documents for self employed individuals
The conditions vary from lender to lender. Some banks give second hand car loans for cars having age maximum of 8 years. This may vary depending on the car model or brand.
The pre owned car loans are not available on cars which are older than 5 years.
The car finance is available for up to 90% of the car value.
The maximum tenure for second hand car loans is 5 years.
Fastest Loan Approval
Flexible repayment options
Car model should not be older than 5 years
Affordable interest rates
Get finance up to 90% of the value of the car
Repay the loan easily with EMIs
Easy and less documentation
Vizag is also known as Visakhapatnam which is a port city and financial capital of Andhra Pradesh. This city has various state owned heavy industries and steel plant. It is the second largest town of East Coast India.