used car loan kolhapur

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Used Car Loan in Kolhapur

Kolhapur is one of the most important regions in Maharashtra which had its history in the Maratha Empire. Apart from its historic importance, they also have a lot of manufacturing impact all over the country. The handicraft industry gives a lot of employment and hence there are a lot of people that relocate to Kolhapur. This place also has a lot of tourist attractions which ensures footfalls in the city. Travel is an issue in this packed city as there are many people who want to travel and fewer options. Purchasing a new vehicle means a lot of funds are required. Hence we found a solution that can help solve all of your travel problems away. This specific solution is “Used Car Loan in Kolhapur”. With a used car loan, a person in Kolhapur can purchase a second hand car. The loan is only for a maximum of 7 years* and since this is a secured type of a loan, the rate of interest is lower than all the other loan types. Judging on your credit profile and the car’s condition, you can get up to 85-90%* of the car’s value as the loan amount.

Why should you take a Used Car Loan in Kolhapur?

There are many reasons to take a Used Car loan but only few of them are the most important ones. These reasons will help the person make the decision of purchasing a used car in Kolhapur via taking a loan.

Suitable For Low Budget

Low budget is why people would opt for a second hand car instead of a new car. People cannot take a new car usually as it does not fit their budget. Hence they would opt for a second hand car.

Freedom To Choose Desired Model

No one likes to settle for a car which they do not like. In a new car, they would have to settle plainly because the cost for cars with better features is very high. But when you opt for a used car loan, you can choose better cars and get lower rates as these cars have already been used earlier. Hence you can get a better deal and save on money.

Easy Availability of Loan:

In Kolhapur, Banks and NBFCs are providing used car loans in Kolhapur throughout the whole city. This loan is easily available and any income class person can apply for the loan as per their requirements. Making the used car loan easily available is to ensure that customers can get to purchase their cars as per their preference.

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

When a Bank finds out that an individual requires a used car loan in Kolhapur they can provide them with the loan as soon as the individual clears the eligibility criteria. These criteria are set by the Bank as per the income class of the individual. These people can be salaried class or from the self employed class which include businessmen and professionals. But with each bank having their own set of criteria, we believe that the individuals might be confused and hence to clear this confusion, we have created a list of eligibility criteria that is similar for both; salaried class and self employed class. To begin with, a person must have these 3 criteria set;

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

The person must have these 3 requirements in order to apply for a used car loan application in Kolhapur. But these are not the only requirements. There are many more such requirements. This is divided into salary and self employed professionals;

  • Salaried Individuals:
  • Every person who happens to be an employee of private limited firm/public sector firm/government employee, are termed as a “salaried employee”.
  • Every person who has been working since the past 2 years AND currently has been working with the latest employer since the past 12 months can be termed as a salaried employee.
  • Every person’s annual income if it’s more than Rs. 2,50,000 per year can be termed as salaried employees.
  • Self Employed Professionals:
  • Every person who is an Accountant, Engineer, Doctor, Trader, or an Architect can be termed as a self employed professional.
  • Every person that runs their business or has been working in their current profession since the past 2 years is called as a self employed professional.
  • Every person who had been filing Income Tax Returns diligently can be termed as a self employed professional.

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

Banks and NBFCs in Kolhapur require a lot of documents when an applicant applies for a used car loan. Yes, these documents are required because the Bank requires calculating their eligibility. This is when they decide if the person is credit worthy. Hence the list of documents is more. But these are separated as per the different income classes; salaried or self employed professionals. Also so as to help the customer with most of the documents, we have created a list with all documents needed to get you kick started with the used car loan process in Kolhapur.

  • Few Passport-size photographs will be needed varying from bank to bank.
  • Used car loan application to be 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.
  • The person must provide past history information on loans and credit cards.
  • Salaried employees must arrange for Form-16 from their employer.
  • Salaried employees must provide their past 3 months’ Salary slips.
  • The person applying for a used car loan in Vadodra must arrange for their Banking statements which spans for a period of minimum 6 months.
  • Salaried employees will arrange for copies of their IT Assessment since 3 years.
  • Self employed professionals will furnish their business registration documents.

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

You can choose Ruloans in order to take a used car loan in Kolhapur because we have been one of the leading loan distributors in India. With a PAN India presence in over 500 cities, we understand our customers like no one else does. We have been serving our customers well and have always helped them borrow right. Our motto is to provide them with the best services that are much more than money. With this attitude we have worked well in India and have now expanded in Dubai via operations of credit cards. Keeping in mind about used car loans, we have developed 5 prime reasons why applying via Ruloans is your best choice;

Hassle free process

Loan applications can be lengthy and hence it’s a long process. The time it takes right from applying to finding all the documents takes is a lot. Hence customers might get irritated due to such tedious process. In order to eradicate such a situation we have created a hassle free process where the work can be completed in a faster manner.

Benefits of applying with us

There are multiple benefits of applying with us. One of them is our vast experience in the loan field. This helps us in providing you with the best services for every request of yours.

Compare your loan options

Everyone has to go check different websites to understand the loan interest rates being offered by different banks. But with Ruloans web portal you can check and compare interest rates being offered by different banks. Hence this can help you get the best deal.

Free expert guidance and advice

With the amount of experience our staff has, giving expert guidance and advice is important and we vouch on our staff as they always give the best advice to the customer. This can be beneficial to all the customers who require the right answer to their problems.

Privacy policy

Privacy in today’s time is very sensitive and hence we ensure that our customer’s information is not tampered with in any ways. We give a lot of importance to our customer’s data.

How to Apply For a Used Car Loan in Kolhapur 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 Kolhapur' 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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