Car Loan

Car Loan

Check Your Eligibility

About Car Loan

Used Car Loans are given to individuals who are interested in buying a used car for their personal/professional needs. Various banks provide Used Car Loans, up to a certain percentage of the price of car or even on zero down-payment, based on their offers.

Why Choose Ruloans To Apply For Used Car Loans?

• As one of the leading loan & finance based comparison portals in the country, RuLoans provides you with an unbiased platform to analyze and decide upon the available Car Refinance deals in the market.

• A one-stop-shop for comparing the various rates offered by different banks/NBFCs, Ruloans allows you to make a calculated and knowledgeable decision by evaluating the deals based on loan amount, interest rate, repayment period, eligibility criteria etc.

• We do provide doorstep document pickup at customers place, which can give value added services to used Car Buyers in Mumbai & many other locations in India

• Get a professional support for Car Refinance at best competitive rates

Characteristic of Used Car Loan

• Applicable for both Used Cars

• Interest rates can be fixed or variable

• A tax deduction maybe applicable if car is to be used for business/professional purposes

• Flexible time period for repayment of loan is also made available

Eligibility Criteria

• Any Indian citizen in good standing who is salaried, self-employed or business person with regular source of income can apply for a home loan

• The applicant should be above the age of 18 years if self-employed and 21 years if salaried, upto 65 years.

• Professional stability and savings history play a major role in approval of the loan. Minimum repayment capacity should be met.

• Must be in the current job for a period of minimum one year if salaried and minimum 2 years if self-employed/professional.

• For Business men and Self-employed individuals, the value of loan you are eligible for is majorly determined by the profit earned by you.

*The eligibility criteria differ from bank to bank. The above details are generic, not specific.

Frequently Ask Questions

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Check Your Eligibility