Apply for Car Refinance
Mumbai, also known as Bombay, the capital city of the state of Maharashtra happens to be the financial capital of India, which has evolved into a global financial hub. Situated on the Konkan coast on the west side of India, the city has a deep natural harbour. Mumbai, named an 'Alpha World City' has the highest number of millionaires and billionaires in India. On the automobile front, Mumbai stood fifth selling 9,244 cars on average in a month. The number of registered vehicles in the city was over three million at the end of 2019. Mumbai continues to be a key market with a steady surge in the preowned luxury cars segment. As of January 2022, there are 4.09 crore vehicles in Maharashtra, of which 42.13 lakh vehicles are in Mumbai. There has been an increase in motor cars and jeeps by 3.5 per cent.
The number of Indians possessing new or used cars for ease and well-being continues to increase day by day. That endless wait for the right time that offers the best interest rates, and tenures has come to a finish with Car Refinance being made accessible effortlessly. Ruloans, a one-stop shop for hassle-free Car Refinance Loans in Mumbai has aligned with notable banks and NBFCs to offer you Car Refinance or a Loan against Car at inexpensive interest rates, and suitable tenures. We’re pleased to be the only experts in Car Refinance; we’ll support you to get hassle-free Car Refinance in Mumbai.
Car Refinance, Used Car Refinance, or a Loan against Car at Ruloans involves merely a simple application; eligibility criteria and paperwork are negligible. You may avail of various Car Refinance features and benefits ranging from elastic repayment tenures, and more.
Interest rates presented by our partner banks and NBFCs on Car Refinance are the lowest rates offered by financial organizations. Our Car Refinance deals are amazingly cost-effective funds, which help control the cost of your car loan.
Our partner banks and NBFCs are the best, who offer the finest in terms of value for money in the face of severe and unstable financial market conditions. This permits you to profit from the flexible repayment tenures varying from 1 year to 7 years.
Ruloans’ 24/7 Digital Resources make the Car Refinance process stress-free and simple for a loan seeker. Our Car Refinance process with relaxed eligibility and negligible documentation will astonish you. With your Car Refinance Loan sanctioned and disbursed quickly, you’ll be travelling in your car comfortably.
Eligibility criteria refer to the elements that govern your prerequisites for a loan. Car Refinance of Loan against Car eligibility depends on quite a few factors that outline your claim for finance. The factors are common to most banks and NBFCs, but a few may differ according to lender-specific requirements. Eligibility standards play a major role in defining the rate of interest, tenure, etc. The eligibility criteria for Car Refinance in Mumbai are listed below.
Your age should be minimum of 21 years, and a maximum of 68 years at Loan Maturity
You should be a Resident Citizen of India without having defaulted on any previous loans and without any Criminal Record
Your should be 650 or higher
If you’re a salaried individual, you should be working with a Private Limited Company, or a Public Limited Company. As a self-employed person, you should be a Proprietor, Partner, or Director. Partnership or Private Limited Companies engaged in manufacturing, servicing, or trading are eligible for Car Refinance
As a salaried person, you should have a salary of Rs.25,000. As a self-employed individual, your gross annual income should be a minimum of Rs.3 lakh. A firm or a company requires an annual turnover of a minimum of Rs. 10 lakh
You should have a minimum of 1-year of experience with your current employer as a salaried person. If you are a self-employed person, you should be in the same business for the last 3 years. As Professional CA, CS, or Doctor, you need a minimum of 1-year of practice. A firm or a company needs business stability or a vintage of a minimum of 3 years in the same business.
Note: The above documentation requirements are for indicative purposes only, and can vary from lender to lender.
Fill out your ‘Basic Details’
After you receive your 'Car Refinance Eligibility', choose your 'Financial Institution', and upload 'Required Documents'
The Institutions will 'Verify' your Car Refinance application, and submitted documents
Your Car Refinance will be 'Sanctioned'
Receive your 'Car Refinance Amount' in your Bank Account - Simply Resourceful!