Used Car Loan in Chandigarh


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Used Car Loan Chandigarh


Chandigarh, also known as the green city of India due to its cleanliness has the distinction of being the capital of two states in India. Known for its archeological and urban importance, this well planned city has a lot of scope for working class individuals. The roadways have been planned in an amazing way just to keep the traffic moving and also a designated track for cyclists. With so much happening, there is a good market for cars which can help the people living in Chandigarh solve their travel worries. Keeping this in mind, there is a good market in Chandigarh for Used Car Loans. Hence there are many options for used cars for people. These loans are secured in nature and hence there is lesser rate of interest when compared to other types of loans. These loans are also short term and hence you can avail for a used car loan in Chandigarh for a maximum of 7 years*. Banks and NBFC’s will compare your credit history and then assess the car’s market value. According to the value of the car, you can get up to 85%* of the value as the loan amount.

Why should you take a Used Car Loan in Chandigarh?


Any person residing in Chandigarh can apply for a used car loan in order to purchase a vehicle of their choice. But there are 3 main reasons which make the decision of taking a car loan as correct;

Suitable For Low Budget

Every time when a vehicle is being bought, the person has to settle for a lower car variant. But with a used car loan, a person in Chandigarh can opt for a used car which fits in their budget and saves them a lot of money.

Freedom To Choose Desired Model

Getting the choice to own your style of car is very important. In a used car loan situation, a person in Chandigarh gets to choose their own desired model. This is because the person cannot choose their own model in a new car and hence ends up settling for a car which fits within their desired budget.

Easy Availability of Loan:

Loans like a Used car loan is easily available in Chandigarh as their roadways are clear, the city is clean and hence people can use the vehicle to solve all their travel worries. Banks and NBFC’s have made this loan available for every salaried and self employed person in Chandigarh so they can purchase a second hand car.

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


There are criteria that need to be cleared by ever person that wants to apply for a used car loan in Chandigarh. Through this, they can apply for a used car loan immediately. The person’s residential status and age along with income forms the three mandatory requirements set anywhere in India for a person to get a loan.

  • These are the generic eligibility criteria needed to avail a used car loan:
  • The person must be a citizen of India.
  • The person must be between 21 and 60 years of age.
  • The person must have a clean income history.

Once the 3 mandatory requirements are set, the person can apply for a used car loan in Chandigarh. Also, there are many more such requirements which need to be cleared by people which can make the bank understand if you would be able to repay the loan amount or no.

  • Salaried Individuals:
  • Every person that is an employee of a private limited firm/public sector undertaking/government employee is termed as a “salaried employee”.
  • Every person that has been working from the past 2 years AND now is working with the latest employer since the past 12 months can be termed as a salaried employee.
  • Every person that has an annual income which is more than Rs. 250000 per year can be termed as salaried employees.
  • Self Employed Professionals:
  • Every person that belongs to the professions like being an Architect, Engineer, Trader, Accountant, Doctor is termed as a self employed professional.
  • Every person that runs their business or has been working in their current profession since the last 2 years at least can be termed as a self employed professional.
  • Every person that has been repaying and filing their IT Returns on time can be termed as self employed professionals.

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


There are multiple documents required when you opt to apply for any type of a loan. Banks and NBFCs prioritize their focus mostly on documentation because this helps them to understand if the customer is worth providing the loan with. Hence they provide with an array of documents which covers all the aspects. But such documents are different for both; salaried class and self employed class. Hence we have listed the mentioned documents which you need to get;

  • There are Passport-size photographs required for this
  • Used car loan application form must be duly filled.
  • Address Proof – Address proof can be provided via either of these documents; Driving License, Bank statement, Voter ID, Ration card, Passport etc.
  • Age, Identity and signature Proof – Proof of age, identity, signature can be provided via either of these documents; Driving License, Birth certificate, Aadhar and Voter ID card, PAN Card etc.
  • One cheque would need to be provided so that all charges and fees associated with used car loan application in Kolhapur can be accounted for.
  • Past history of loans and credit cards must be provided.
  • Salaried employees must arrange for their Form-16 duly filled.
  • Salaried employees must provide 3 months’ Salary slips.
  • Banking statements to be provided since the past 6 months.
  • Salaried employees to provide Income Tax Assessment since 3 years.
  • Self employed professionals to provide with business registration documents.

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


Ruloans has been one of the most successful loan distribution houses in India. Over the years we have serviced over thousands of happy customers residing in all the major cities in India. With a presence like ours, we have grown as a brand and now not only serve customers within India. We now serve customers in Dubai too. Our motto revolves around customer satisfaction and hence we help them borrow right always. Any person can apply for a used car loan in Chandigarh and expect the best service always. Below mentioned are few reasons why we believe a used car loan taken from us in Chandigarh is the best decision you can make. Here are the reasons;

Hassle free process

Every loan process takes a lot of time. Hence the customer might waste a lot of time completing the whole process. In order to ensure that this does not happen anymore, we have created a process which will help you get all the steps completed very soon and save a lot of your precious time.

Benefits of applying with us

There are multiple benefits of joining us as we have been in this industry for a longer time. Our vision has been the same which deals in customer satisfaction and hence we always ensure they get the loan which fits in their best interests.

Compare your loan options

Who would like to visit different bank’s websites in order to find out the loan process and the deals? Here we get to compare loan options on Ruloans web portal of all our partnered banks. Hence you can choose the bank of your choice.

Free expert guidance and advice

There is a lot of talk about giving expert guidance and it is very important to us that all our clients get the best services. Hence our well equipped staff helps the clients in getting the best loan as per their requirements. All this is done without charging them a single dime.

Privacy policy

With so much importance being given to privacy, we have taken the necessary steps in order to ensure that customer’s sensitive information is not spread outside.

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


  • Anyone can apply for a used car loan in Kolhapur by following these simple steps;
  • Step 1: Go to the 'Car Loan' menu on our website and click on Used Car Loan in Vadodra 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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