used car loan in raipur


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Used Car Loan


Raipur is a city formed in Chhatisgarh which has a lot of religious and historical importance. With such an old history there is a lot of footfall of tourists expected here. Also, there is a sharp rise in the IT and manufacturing sector here apart from education. Hence there are many people that relocate here. They use local transport to solve their travel problems and reach work or college. But since there are lesser options, people might get late or might have to travel inconveniently. Hence to solve such issues we developed a solution which can help the people in Raipur. That solution is a “Used Car Loan in Raipur”. A used car loan can help any person purchase a second hand car in Raipur and use it for travel purposes. Since this loan is a short term loan (max 7 years*) and is secured in nature, hence you can expect the interest rates to be lower than other loan types. After checking the condition of the car, the Bank would provide you with 60-85%* of the car’s value as the loan amount.

Why should you take a Used Car Loan in Raipur?


There are multiple reasons how a used car loan in Raipur can help you travel easily and make life simple. However we have rounded up to 3 main factors that concur why a used car loan in Raipur is the best solution to travel issues.

Suitable For Low Budget

Every time a person wants to purchase a vehicle, they don’t go ahead with the initial plan because the costs involved are very high. Hence they resort to local transport options. But with a used car loan in Raipur, every income class person can get the benefit of owning a vehicle which they can call as their own. They can purchase a vehicle at a lower cost which will fit their budget.

Freedom To Choose Desired Model:

The freedom to choose your own model is scarce when it comes to purchasing a new vehicle. Hence people would stick to their budget and end up settling with a model which would fit their budget. But all that changes when it comes to used car loans. When someone is purchasing a used car, they can opt for better car models and it all fits within the desired budget as the costs associated with a used car whether it’s the purchase cost or insurance is lower than that of a new car.

Easy Availability of Loan:

No one today looks at second hand cars as downgraded or useless cars. The concept of used cars has evolved with time. Now, people apply for a used car loan easily without any wrong notion or perception. Looking at this attitude, Banks and NBFCs have made used car loans as easily available all throughout the city. Any person can apply for a used car loan all over Raipur and purchase the car of their choice.

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


A used car loan can help many people realize their dream of getting their own car home. But in order to get this loan, there are criteria that you need to fulfill in order to get the car home. These criteria will range and differ from bank to bank. Yes, all of them do have similar criteria set for those who want a used car loan in Raipur but this changes when the income class comes into question. There are different criteria for those who belong to the salaried class and those who belong to the business OR self employed professionals class. These criteria are important so that a person can convince the bank that he is indeed worthy of getting the used car loan in Raipur from the bank.

  • The person applying for the loan must be a citizen of India.
  • The person applying for the loan must be between 21 and 60 years of age.
  • The person applying for the loan must have a clean income history.

These 3 requirements are important because without this, applying for a loan in Raipur or any other state in India is not possible and meaningless. Age, residency and income proof define the person’s credibility towards getting a loan. Apart from this as mentioned above, criteria is different as per income class of the individual. Since this can be confusing to the person applying for a used car loan in Raipur, we have made a list of documents that are similar to what you will require in all the banks.

  • Salaried Individuals:
  • A salaried employee is a person who has been working with a private limited firm or a public sector undertaking or a government employee.
  • A salaried employee is a person who is working since 2 years AND is now working with the new employer since the last 12 months.
  • A salaried employee is one who’s annual income has been more than at least Rs. 2,50,000 per year.
  • Self Employed Professionals:
  • A self employed professional is any one of the above; Engineer, Trader, , Doctor, Architect, an Accountant or other professions etc.
  • A self employed professional is a person that runs their business since the past 2 years or has been running their professional skills.
  • A self employed professional is a person that has been consistent in their filing of IT returns.

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


Like the eligibility criteria, there is a list of documents that are required in order to get the used car loan in Raipur. Once there is enough documentation to support your credibility, then getting a used car loan in Raipur from any bank is very easy. There is enough documentation for both; salaried class and self employed class. Since there are so many documents required hence we have made a generic list which is required for both; salaried and self employed. This will help you prepare most of the documentation in advance.

  • Passport-size photographs.
  • A duly filled Used car loan application.
  • Address Proof – Arrange for Address proof from either; Passport, Voter ID, Ration card, Driving License, Bank statement etc
  • Age, Identity and signature Proof – Arrange for proof of age, identity, signature: Aadhar and PAN Card, Voter ID card, Birth certificate and Driving License etc.
  • Provide one cheque which will fulfill the cost related to all the different costs and fees.
  • Provide information about all the older loans and credit card history taken ever.
  • Provide the Form-16 if you are a salaried employee.
  • Provide 3 months’ Salary slips if you are a salaried employee.
  • Provide 6 months Banking statements.
  • Provide proof of IT assessment since 3 years for a salaried class individual.
  • Provide business registration documents for self employed professionals.

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


Ruloans is one of the largest loan distribution companies in the market today. With our PAN India presence in over 500 cities all over India, we help all our customers to borrow right. Our motto is to provide services that are much more important than money. Being in this industry over 2 decades, we now have expanded our operations outside the country. Our first international venture lies in Dubai and we have begun distributing credit cards. With our experience and motivated staff, we provide customized solutions to all our customers.

Hassle free process

No one likes to fill the loan application form, run around to search for all documents and finally hope for the eligibility to be cleared. This process is time consuming and very lengthy. Hence to ensure this does not happen to any of our customers, we have created a process which is hassle free. Here the person has minimum to do and a lot to gain.

Benefits of applying with us

Being in the industry for over 2 decades has given us a lot of experience and hence we know how to help our customers in borrowing right. Another advantage is of getting the best customer service from our representatives.

Compare your loan options

The USP of our web portal is that you can compare loan options of different Banks and NBFCs and choose the best deal accordingly. You don’t have to go to different websites anymore to get the interest rates anymore. With our portal, your work gets cut out.

Free expert guidance and advice

With our staff which has more than a decade of experience, we give them expert guidance and advice. We study the trends and are always ready with answers to all our customer’s problems.

Privacy policy

Privacy is the key in such matters. We understand that customer’s data is very important and hence we ensure it gets the highest safety possible. Your documents are only with us and then moved to the bank of your choice.

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


  • Anyone can apply for a used car loan in Raipur by following these simple steps;
  • Step 1:You must visit our 'Car Loan' menu on our website and click on Used Car Loan in Raipur 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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