used car loan in jaipur


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Used Car Loan


Jaipur which is also known as the Pink city is one of the most cultural and historical places in India. It is also one of the best tourist hubs all over India. With wide range of sand dunes and handicrafts, there is footfall in Jaipur all over the year. One more thing to keep in mind is how the people prefer to purchase vintage and older cars. This means the people in Jaipur have a good taste of vehicles and use it for more reasons than just transport. Keeping this in mind, the fact remains that Jaipur is a city that is not easily connected with everything and hence the person would need to travel a lot more than that in a metro city. Since this is not a good prospect in the day when it is really very hot, they can opt for local transport which will help them to reach their work place or roam around in the city. If they need a better option, then they can opt for a “Used Car Loan in Jaipur”. What’s a Used Car Loan in Jaipur? A used car loan is a loan given by the Banks and NBFCs to people to purchase a second hand vehicle. With the loan amount, the person can purchase the vehicle of his/her choice and solve his/her travel worries. How is the loan amount derived? The Bank will evaluate the condition of the car, its market value and then provide you with around 60-85%* of the car’s market value as the loan amount. The remaining amount must be provided by your own funds. Once you do this, you can get a used car loan in Jaipur. These loans are short term loans which are valid for not more than 7 years*. Since the loan is secured in nature, you can expect a lower rate of interest than other types of loans.

Why should you take a Used Car Loan in Jaipur?


Making life and travel easier is of the utmost importance and hence a used car loan can help you get both of this in Jaipur. But this is not the only reason. There are many reasons why someone would like to take a used car loan in Jaipur. We have shortlisted 3 such reasons which are very important in take a used car loan in Jaipur;

Suitable For Low Budget

A used car loan in Jaipur is for every budget. Hence every member of the social class can afford to purchase a second hand car via taking a used car home in Jaipur. This is because the cost involved in purchasing a used car is comparatively lower than that of a new vehicle.

Freedom To Choose Desired Model:

If you get to choose your desired model while buying a new car then it would mostly be out of your budget range. This is not what will be effective for you and hence you settle for a model which is within your budget. But in a used car, you can choose better models that would fit well within your budget range because the pricing of old cars is lower than that of a new car. For a person residing in Jaipur, they can opt for a used car loan and get vintage models at a lower price than general.

Easy Availability of Loan:

Since the 21st century, used car loan segment has only grown at a rapid pace and people all throughout India have gradually accepted the fact that a used car can give the same happiness as a new car. The only difference lies in the first time ownership. Hence the Banks and NBFCs in Jaipur made used car loans readily available in the whole place. This means that anyone can apply for a used car loan in Jaipur at any Banks and NBFCs.

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


In Jaipur, every type of a loan can be applied by the people residing there. But in order to do that, they would need to fulfill eligibility criteria. These criteria when fulfilled will help them get their used car loan application accepted in Jaipur. The criteria will depend properly on the personal information, financial information and job history of the person who is applying for the used car loan application in Jaipur. Once this is sorted and analyzed, the lenders understand if the customer will be able to repay the loan amount or no. We have created a list which has mandatory requirements that are needed to avail a used car loan in Jaipur. These are;

  • The person should be a citizen of India.
  • The person should be between 21 and 60 years of age.
  • The person should have a decent clean income history.

If the customer can fulfill these 3 key requirements then they can easily apply for a used car loan in Jaipur by filling loan application. But all you need to remember is that these are not the only requirements for used car loan application. There are more criteria which are needed for this loan. Hence when the customer will clear their criteria, the Bank can give them a used car loan in Jaipur.

  • Salaried Individuals:
  • If a person is an employee of a private limited company/public sector unit/government employee, they can be called as a “salaried employee”.
  • If a person has been working since 2 years AND currently is working with their current employer since 12 months, they can be called as a salaried employee.
  • If a person’s annual income is more than Rs. 2,50,000 per annum, they are called as salaried employees.
  • Self Employed Individuals and Professionals:
  • If a person is a Trader, Accountant, Doctor, Engineer or an Architect then they can be called as a self employed professional.
  • If a person conducts their business or has been in their current profession since 2 years they can be termed as a self employed professional.
  • If a person has been duly filing and repaying their Income Tax Returns then they can be called as self employed professionals.

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


Documents are required by the Banks and NBFCs because they need proof in understanding your credit worthiness. Once they certify your credibility, then they can offer you used car loans in Jaipur. Hence you would notice how Banks and NBFCs place a lot of emphasis on documentation and KYC. No matter what income class you belong to, there are specific documents that are needed. Hence we have created such a list that would help you collect all documents and apply accordingly for a used car loan in Jaipur.

  • Passport-size photographs.
  • You must fill your Used car loan application form very carefully with all details.
  • Address Proof – The person will have to provide Address proof from any one of the following documents; Ration card, Driving License, Bank statement, Passport, Voter ID, telephone/electricity/ bill etc
  • Age, Identity and signature Proof – The person will then have to provide proof of age, identity, signature proof via Birth certificate and Driving License, Aadhar and PAN Card, Voter ID card etc.
  • The person should submit one cheque that will cover all costs like administrative costs or processing fees in your used car loan application in Jaipur.
  • The person should also provide information of any of their previous loans or credit cards whether completed or outstanding.
  • If the person happens to be a salaried employee, they must provide their Form-16 and duly fill it as per expectations.
  • The person should submit their last 6 months Banking statements.
  • If the person happens to be a Salaried employee then they must provide copies of their Income Tax Assessment since 3 years. If the person happens to be a self employed professional then they must furnish business registration documents immediately.

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


Ruloans is one of the leading distribution companies that have been actively working in the loans industry and has served customers from the past 2 decades. With a PAN India presence in over 500 cities in India, we understand you like no one else. Hence our motto revolves around helping customers borrow right and provide them with services that are much more than money. With our experience in this field, we have now begun operations in Dubai too with credit cards.

Hassle free process

The time it takes for a loan application to process is longer and tedious for many customers. Hence they look for options where they can get the loan processed quickly. At Ruloans, we have created a hassle free policy which reduces the burden on the customer. Through this, they can upload their documents online and reduce the time in loan processing.

Benefits of applying with us

Being in this market since a very long time makes us an old but effective player. A player who understands what the customer requires. With more than 500 cities where we have touch base, you can always benefit in getting the best deal from us.

Compare your loan options

Why would you want to waste time in checking different websites for attractive interest rates. But with Ruloans, all you need to do is log on to our web portal and then compare loan options being provided by different partnered banks of ours.

Free expert guidance and advice

Giving expert guidance and advice is what we are good at. We do this without charging the customer a single penny. Yes, every advice is given free of cost.

Privacy policy

In this digital world, privacy of data is really important. Hence we understand the importance of customer information and keep it safely.

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


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