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Used Car Loan in Aurangabad


Aurangabad is one of the most history rich city you can find in the whole of Maharashtra. Such is its historic importance that there is tourist footfall all around the year. Apart from all this, Aurangabad also witnesses a sharp rise in the IT and manufacturing sector. This means there are more jobs being created and more people relocating to Aurangabad. Hence people would want to travel and make their life easier. Hence keeping this in perspective, we have got a new solution that can save your money and also solve your travel issues. That solution is a “Used Car Loan in Aurangabad”. With a used car loan, the person living in Aurangabad can purchase a second hand car and solve their travel problems. This is a secured kind of a loan and hence you can expect lower rates of interest when compared to other types of loans. Also this is a short term loan which can be for a maximum period of 7 years*.

Why should you take a Used Car Loan in Aurangabad?


When someone purchases a used a car, there are so many benefits associated with it. We have mentioned three such reasons that would make the decision of taking a used car loan in Aurangabad as wise.

Suitable For Low Budget

A used car loan is for every income class. This is because, the costing for second hand cars are very low. Hence this will fit in your budget without affecting any future cash reserves. Also, with a budget for a used car, you can not only purchase but also utilize the money saved in maintaining it.

Freedom To Choose Desired Model

Who wouldn’t like to purchase their own choice of car. Many of the car lovers want to purchase a car of their choice but cannot go ahead with that decision as the cost involved in buying a good model is very high. Extra features and safety devices make new vehicles very costly. Hence people can resort to older vehicles which can be bought for comparatively lower costs and accordingly save money. Doing this gets them the car of their choice within their desired budget.

Easy Availability of Loan:

Since the 21st century took digital media very seriously, people have opened up to the prospect of purchasing second hand vehicles and don’t have any negative thoughts associated with it. Hence all the Banks and NBFCs too have made the used car loan easily available in Aurangabad. This means that any person could apply for a used car loan and drive the car of their dreams in Aurangabad.

What are the Eligibility Criteria to avail a Used Car Loan in Aurangabad?


There are eligibility criteria required for any person that wants to take a used car loan in Aurangabad. These criteria ranges from salaried employees to self employed professionals. Only when the person fulfils the criteria, they can apply for a used car loan in Aurangabad. The criteria depend on a variety of factors like your income and your residency status along with job stability. Apart from a huge list of requirements, there are 3 such criteria that are mandatory for every customer to fulfill. These 3 criteria are;

  • • These are the generic eligibility criteria needed to avail a used car loan:
  • The individual applying for a used car loan should be a citizen of India.
  • The individual applying for the car loan should be around 21 to 60 years of age.
  • The individual applying for the used car loan should have an income history.

The individual when fulfills all these mandatory requirements, then they can apply for a used car loan in Aurangabad easily. Apart from these basic criteria, there are many more requirements on the basis of salaried and self employed individuals. Once the individual fulfills these criteria, the Bank can lend the money to the individual.

  • Salaried Individuals:
  • The person must be an employee of a private limited firm, public sector undertaking or a government employee in order to be called as a “salaried employee”.
  • The person must have been working since the past 2 years AND has been now working with the current employer since the last 12 months to be called as a salaried employee.
  • The person must have an annual income which is more than Rs. 2,50,000 per year to be called as a salaried employee.
  • Self Employed Individuals and Professionals:
  • The person must be a Doctor, Engineer, Trader, Accountant or an Architect to be known as a self employed professional.
  • The person must have been conducting their business or be in the current profession since the past 2 years to be known as a self employed professional.
  • The person must have been timely filing and repaying their Income Tax Returns to be termed as a self employed professional.

What are the Documents Required to get a Used Car Loan in Aurangabad?


There are many documents which are required by the Banks and NBFCs in order to determine what the credibility of the individual is. Once that is done, they can offer used car loans in Aurangabad in order to any eligible person. Hence all the lenders give more emphasis on documentation in order to find the right individuals that can be trusted with the loan amount repayment. Since the list varies for different income class applicants, hence we have made a list which can help you keep more than half the documents ready.

  • Passport-size photographs.
  • Used car loan application form duly filled.
  • Address Proof – Here, you will need to arrange for address proof from any one of the following; Passport, Driving License, Ration card, Voter ID card, Bank statement, telephone/electricity/ bill etc.
  • Age, Identity and signature Proof – In order to go ahead with the loan approval, the person will have to arrange identity and signature proof from any one of the following; Voter ID card, birth certificate, Passport, Aadhar Card, Driving License and Pan card.
  • One cheque to be provided which would cover costs related to your used car loan application in Nagpur.
  • Previous loan history and credit card history to be provided.
  • Salaried employees must provide Form-16 duly filled.
  • Salaried employees will provide 3 months’ Salary slips.
  • Submit last 6 months Banking statements.
  • Salaried employees should provide few copies of Income Tax Assessment since 3 years.
  • Self employed professionals to provide business registration documents.

Why Choose Ruloans To Apply For Used Car Loan in Aurangabad?


Ruloans has been in the loan industry since the past 20 years. With our vast experience in the loan industry, Ruloans has been one of the largest loan distributors that helps people borrow right always. Our motto lies in providing services that are much more than money. With a PAN India presence in over 500 cities, we now have expanded our operations in Dubai via selling credit cards. There are multiple reasons why you can choose Ruloans to apply for a used car loan in Aurangabad. We have shortlisted five such reasons which are mentioned below;

Hassle free process

In today’s fast paced life, no one has time to spend time on filling loan applications and also running around to get all documents on time. The whole process can be tedious if not done with the right bank. Hence with Ruloans you do not have to worry about anything. We help you borrow right and allow you to get the loan process completed quickly.

Benefits of applying with us

There are multiple benefits of applying with us because we have been in this industry over 20 years and have also touch based with thousands of customers in hundreds of cities. Hence you will always have a good time with Ruloans.

Compare your loan options

The best USP of Ruloans is that we make life easy for the customer by saving important time. Yes, you can compare different loan options provided by different banks. This allows you to check the best deal as per your need and accordingly get the loan approved.

Free expert guidance and advice

With our highly motivated staff whose experience spans over a decade, we provide the right guidance and advice to people free of cost. Yes, we do not charge any penny from the customer.

Privacy policy

Privacy of our customer is of the utmost importance. Hence we ensure that your documents and application is only transferred between the Bank and with us only.

How to Apply For a Used Car Loan in Nagpur on Ruloans?


  • Anyone can apply for a used car loan on Ruloans. Just follow these steps;
  • Step 1: Go to the 'Car Loan' menu on our website and click on Used Car Loan in Aurangabad option. There click on 'Apply Now' box.
  • Step 2:You will then proceed in filling your personal and financial information. After that you can opt to use our “used car loan calculator” which will help you in understanding your eligibility and making the right choice.
  • Step 3:The used car loan calculator will help you in understanding the most ideal rate of interest for you. Post this, you will find a list of our partnered banks that you qualify for as per your eligibility criteria. This list will include the name of the lender and the overall deal.
  • Step 4:Later, you have to choose the best deal and the lender of your choice in order to go ahead with the process.
  • Step 5:Finally after making the choice, your application will be sent to the bank for processing.

Frequently Ask Questions


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