Used car loans are popular thanks to the increase in demand to purchase used cars and various banks that offer loans to be able to afford a used car. Get a used car loan at Letzbank and get service charge waived off.
Used Car Loan Popularity In India
With the arrival of different car segments in India and the ease in availability of car loans, people are upgrading their cars every now and then. This has led to an increase in the used car segment and people who were earlier not able to afford a car, are now able to, with the help of used car loans. More and more banks and independent financial institutions are offering used car loans to consumers at attractive interest rates and schemes. Therefore, buying a car in this age, whether new or used, is not as tough as it was a decade ago.
Used Car Loans In Pune
Asthe automotive sector in Pune is a highly diverse industry, used car loans are a huge attraction as you have a lot of choices. You can easily get used car loans from popular banks, as well as independent financial institutions, that offer car loans to Pune residents. Let us examine the eligibility and documents required to avail a car loan in Pune.
Used Car Loan Eligibility in Pune
- Age - The average eligible age is between 21-65 years.
- Minimum Income -While the minimum income varies for each bank, a minimum income on an average falls at Rs. 1,00,000 per annum.
- Employment -You must also be employed for a minimum of one year at your current organization.
Used Car Loan Paperwork In Pune
- Photo Id Proof– Any valid government ID proof.
- Age Proof– Any valid government ID proof.
- Address Proof– Any valid government ID proof with the current address or a valid rent agreement.
- Car Loan application completed and signed by the applicant.
- Income Proof (whichever is applicable)– Last 6 months of bank statements/last 3 months’ salary slips/Form16 for the latest financial year/latest IT Return that shows income computation/Audited balance sheer and P&L account.
- Signature Verification Proof –Any passport copy, photo driving license, a credit card statement or banker’s verification can be provided as signature verification proof.
List of Banks offering Used Car Loans
There are a number of banks that offer car loans in Pune. Many even offer instant approvals with minimum documentation.
State Bank of India, Sundaram Finance, ICICI Bank, Axis Bank, Dena Bank, Capital First Bank, Federal Bank, Reliance, Yes Bank, Allahabad Bank, Bank of India, Canara Bank, Central Bank, IDBI Bank, Indian Bank, Larsen & Toubro Finance, HDFC Bank.
Used Car Loans @ Letzbank
Find used Car Loans offers at www.letzbank.com for purchase of a used car. Options for availing loans as well car re-finance are available online. Choose car as per the type, make, brand, model and city.