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Used Car Loan
Need Used Car Loan? Simply contact Us and Relax!!!

Product Info

Sooner or later, you are going to need a bigger car as your family grows or you fall in love with the latest sedan, or you may simply think that it is time to graduate from your two-wheeler. If you do not have a very large budget to buy your dream car, no need to worry because availing a car loan is simple, quick and very easy now.

Today the technology has brought the world closer, so you can not only consider purchasing a new car but you also have an option to buy a used car which is well functioning, hardly used & will give less burden to your pocket. A lot of people like to switch cars as soon as a new model arrives, and thus you can take advantage of this loan to purchase your dream car.

At theloancompany.in, we make the Best Car Loan options from the most trusted Financial Institutions; accessible on a single platform for NEW & USED cars both, so that you can compare them and thus,choose the Best Deal suited for your need.

Choose the Best Deal, Always!

As our name suggests, at theloancompany.in we help you find the Best Deals. Our association with the finest, most trusted and reputed Financial Institutions ensure that you can make a thorough comparison and are completely satisfied with the offer, before you choose the Best Deal for your car loan.

Get the best deal with us, here’s how!

  • Use the Eligibility Calculator to learn your eligibility. It’s quick, simple and also provides you the information about the Best Deals or the lowest interest rates
  • Gain the advantage of comparing offers that have been specially customized for you and then apply for the most suited offer
  • Once you have applied for the car loan online, the application will be sent to the Financial Institution of your choice, thus saving your time and resources involved in visiting a bank/NBFC or doing paper work
  • theloancompany.in will also keep you updated about the loan status via your personalized account page, email, SMS or calls
  • Apart from giving you the Best Deals from loan providers, you also have the opportunity to win amazing prizes and coupons if you refer a friend or a relative to theloancompany.in
  • Benefits of Car Loan

  • Can avail up to 100% financing
  • Quick and hassle-free loan disbursal
  • Fixed interest rates
  • Flexible tenure and can range to 7 years
  • EMI will not be affected by market fluctuation, given fixed interest rate
  • Who can borrow Car Loan?

  • Salaried Individuals
  • Self-Employed Individuals engaged in a business
  • Self-Employed Professionals like a CA, a doctor or an architect etc.
  • Person above 20 years up to 65 years of age
  • How much can you borrow?

  • Loan amount ranges from Rs.1.25 lac up to Rs.2 Crores
  • Depends on salary drawn or monthly income in case of a Self Employed
  • Depends on customer's financial & repayment history
  • Details you should know…

    At theloancompany.in, we care about how you manage your money, and therefore, we request you to note the following points before you avail the loan, so that you can make the right choice.

  • Check the Interest rates and other service charges like processing fee, prepayment charges, foreclosure charges as indicated by the providers
  • Check your CIBIL credit rating score and credit history. A high CIBIL credit score with no default on payment can help you get approvals quickly and / or lower interest rates / charges
  • Documents Required

  • Identity Proof (Passport, Pan Card, Driver’s License etc.)
  • Bank Statement for 3 to 6 months. In case you are a salaried individual then the bank statement from your salary account
  • Salary Slips from your current employer
  • Proof of Residence (Ration Card, Property Documents, Registered Rent Agreements, etc.)
  • Self-Employed applicants will require to submit Profit and Loss accounts, Partnership Deeds, Balance Sheets and other documents as requested by the loan provider
  • Other documents as required by the respective Financial Institutions
  • FAQS

    Which cars can be financed by the loans available?

    Imported vehicles may be funded on case-to-case basis. Most Financial Institutions will consider all passenger vehicles and multi-utility vehicles that have been manufactured by reputed automobile manufacturers in the country.

    What is the usual time taken for a Car Loan approval?

    In most cases; it takes about a week, while in some cases, loan could be approved in 24 to 36 working hours.

    What is the maximum period of repayment offered?

    In most cases; it would be 7 years, but certain lenders may increase tenure depending on the case.

    Car Loan Amount – How is it calculated?

    In order to learn the total amount of financing, the following information is required:

  • The total cost of the vehicle, make and model
  • Accessories that you may want to include
  • Amount and type of Insurance cover that you will opt for
  • Down Payment that you can organize
  • Can you get 100% financing for the cars?

    100% Car financing is not a popular practice in India, however, there are some institutions that might offer you 100% financing, depending on the model and make of the car.

    Is any additional security or collateral required?

    No. It is not required. Only the car against which the loan is being sanctioned will be hypothecated to the Financial Institution you are availing the loan from.

    Can there be a co-applicant?

    Yes,any blood relative living in the same house or your spouse can be a co-applicant.

    How can one repay the loan?

    Post-dated cheques can be used to repay the loan.

    Can the loan be prepaid?

    If you wish to prepay your loan fully, you should be aware that there will be certain charges applicable for prepayment.

    Are the car insurance and registration charges included in the loan?

    Generally financing is done on the Ex-Showroom price after discounts, though some financiers also finance basis the on-road price which is ex-showroom price plus registered value plus Insurance Value.

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