Car Loan(New/Used)
Features and Benefits of our New /Used Car Loan
- Quick Car Ownership: Get your dream new car without waiting to save up all the money.
- Flexible Financing: We lend you the funds needed to buy the car, and you pay us back in smaller, manageable installments.
- Enjoy the Newness: Experience the excitement of a brand-new car with all its latest features.
- Options Galore: Choose from a wide range of Old or New car models that suit your taste and needs.
- Building Credit: Making regular payments can help improve your credit score over time.
- Warranty Coverage: Many new cars come with warranties that provide peace of mind.
Individuals who are at least 21 years old at the time of loan application and no older than 60 at the end of the loan tenure
Individuals who have worked for at least two years, with at least one year with the current employer
Individuals with a minimum earning of Rs. 2,50,000 per year, including the income of the spouse/co-applicant.
For Self Employed Individuals
Individuals who are at least 25 years old at the time of application and no older than 65 at the end of the loan tenure.
Those who have been in business for at least three years.
Should earn at least Rs. 2,50,000 per year
Used Car Loan Eligibility Calculator
Refer to calculator
Used Car Loan Eligibility Criteria for Top Banks:
- Age: Generally 21-65 years.
- Income: Minimum monthly or yearly earnings.
- Employment: Stable job with experience (1-2 years).
- Credit Score: Good score, often 650 or higher.
- Down Payment: Certain percentage of car's cost.
- Documentation: ID, address, income proofs, car papers.
- Loan Amount: Based on income and repayment ability.
- Debt-to-Income Ratio: Consideration of existing debts.
Used Car Loan Eligibility for Salaried Individuals/Self-Employed Individuals
Factors Affecting Used Car Loan Eligibility:
Credit Score
Income Level
Employment Stability
Debt-to-Income Ratio
Age of Car
Loan Amount Requested
Down Payment Amount
Loan Tenure
Credit History
Existing Financial Obligations
Documents Required to Apply for New Car or Used Car Loan
- KYC documents (Valid Photo ID Proofs)
- PAN Card
- Last 2 years' ITR as proof of income
- Salary Slip (latest 3 months)
- Salary account statement(latest 6 months)
- Signature Verification Proof
- Performa Invoice of the New Car If Used Car Purchase Kindly That Car Full Set Of Documents{R.C Book,Insurance,Noc,Ownership Tranfer Certificate,Owner Details}
Mera Market LLP
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- Mera Market LLP
- Februari 15, 1992
- 1220 Manado Trans Sulawesi
- contact@example.com
- +123 456 789 111