Search from a wide range of used cars and enjoy low used car finance rates
Looking out for a used car? Before you scout the market for different car models, it is advisable to scout the market for financiers who will help you with the purchase. Banks and financial institutions will not only finance your car but will also help you search for the model that best fits your requirements. Considering the increasing number of options in the market, it has become possible to purchase a premium used car at the cost of a brand new car. With a used car, you will not have to spend all your savings on the purchase and can remain rest assured that the loan will help you manage finances.
Used car loans can be applied for by individuals above the age of 18 with a consistent flow of income. The loan is available for any brand and model of the car and is sanctioned for an amount upto 90% of the value of the car. This means you will only be required to make a down payment of the balance 10% of the value of the car. The loan application and approval procedure is quick and hassle free. The pre-owned car loan will fulfill all your needs and carries flexible repayment tenure. They offer pocket friendly EMI repayment options that enable the borrower to repay the loan within due time. It is important to consider the condition of the used car when making the purchase. Ensure that the car is in working condition, is not more than eight years old and has been well maintained. It does not make sense to purchase a used car if you end up spending a huge amount on its servicing and maintenance from time to time. Take a test drive and contact a few mechanics before making the final decision to buy.
Banks and financial institutions offer competitive used car finance rates which make it easier to repay the loan. Due to increasing competition in the market, the interest rates are coming down and the tenure is longer, thus adding to the convenience of the borrower. Used car finance rates vary from institution to institution and change from time to time. Scout the market for different finance options and choose the one that best meets your requirements. The procedure of application for the loan is transparent and hassle free. The documents required include identity proof, address proof, income proof and photographs. With all the documents in place, the loan can be approved within 48 hours. Applicants with a positive credit score can enjoy quick approval of the loan.
With a car loan that fits all your requirements, you can bring home your dream ride without having to worry about the finances or stress about the repayment of the loan. Consider your monthly income when applying for the loan so that you can determine the EMI accordingly. The EMI amount can be customized to meet your repayment ability.
