used car loan vadodara

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Used Car Loan in Vadodara

Vadodara is the third largest city in Western India. Apart from having a rich history, it also is an important industrial, cultural and educational hub in Western India. Apart from this, they have a lot of regional importance in the pharma, chemical and IT industry. Hence there are many people that would relocate to the city in search of their livelihood. Vadodara also has their share of tourism with people visiting various temples and attractions. The people living here would use local transport options to travel from one place to another. But with limited options, it might be a problem to conveniently roam around the city. Hence, we derived a solution which can wipe all these traveling issues easily. That solution is “Used Car Loan in Vadodara”. With this loan, a person in Chandigarh can purchase a used car and utilize their traveling needs. This is a short term loan and a secured loan. Hence a used car loan in Vadodara can be availed for a maximum of 7 years* and at a lower rate of interest. The Bank and NBFC will check the car’s market value, it’s papers and accordingly come up with a loan amount which can be given. This amount can be up to 85%* of the car’s value.

Why should you take a Used Car Loan in Vadodara?

A used car loan in Vadodara can help people solve their travel issues and conveniently reach from one point to another quickly. Hence we feel it’s a better option than purchasing a new car. Apart from what we think, there are 3 main reasons why taking a used car loan makes sense;

Suitable For Low Budget

A used car is for every budget and for every person. With the car amount being lower than that of a new car, the chances of going above your budget seem impossible. Hence a used car loan in Chandigarh can help any person in getting their dream car.

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 Vadodara 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. Hence with a used car loan, they get freedom to choose their desired model.

Easy Availability of Loan:

A used car loan in Vadodara is easily available all throughout the city. Hence Banks and NBFCs have provided different deals and offers for people all throughout the city. This is beneficial for both; the people and the Banks.

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

There is a criteria which is set by each Bank and NBFC. This is because a set criteria helps the lender in understanding what the customer wants and if he can actually be worthy of being given the loan. Yes, the person’s job history and income class will be the parameter to find out if the person will be able to take a car loan or no. Let’s begin with the top 3 requirements without which you cannot get the used car loan in Vadodara.

  • 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 applying for a used car loan should have a clean income history.

Once these 3 mandatory requirements are fulfilled, the person can apply for a used car loan in Vadodara. Apart from this, there are many more such requirements which you need to fulfill whether you are a salaried class or a self employed professional. Once they do fulfill these requirements they can bring home their dream car by applying for a used car loan in Vadodara.

  • Salaried Individuals:
  • Any individual who works for a public sector unit/ private limited company/ government employee can be officially termed as “salaried employee”.
  • Any individual who has been working since the past 2 years AND is now working with the new employer since the past 12 months can be termed as a salaried employee.
  • Any individual who’s overall annual income is equal or more than Rs. 2,50,000 per year can be termed as salaried employees.
  • Self Employed Individuals and Professionals:
  • Any individual who belongs to either of these professions i.e. a Doctor, Engineer, Trader, Accountant or an Architect can be termed as a self employed professional.
  • Any individual who runs their business or is working in their profession since the past 2 years can be called as a self employed professional.
  • Any individual who has filed his taxes duly and on time can be termed as self employed professionals.
  • Any person that has been filing and paying his/her Income Tax Returns regularly can be termed as a self employed professional.

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

There are a lot of documents which are required in order to get a used car loan in Vadodara. Whether you are a salaried individual or a self employed professional, you need to provide certain documents which will help the bank in understanding what kind of interest rate can be offered to the person applying for the used car loan in Vadodara. Below is the list which you can use as reference;

  • You will need few Passport-size photographs.
  • A duly filled Used car loan application form.
  • 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.
  • The person applying for a used car loan in Vadodara must arrange for a cheque that would cover all costs that are associated during the loan process.
  • The person must provide information on all previous 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 Vadodara 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 Vadodara?

Ruloans has been working since the past 2 decades serving customers all over hundreds of cities in India. With our PAN Indian presence, we have worked in the customer’s best interests and have also ensured that they always borrow right. Our motto involves in providing services to our customers which are much more than money. Hence with this outlook we have been successful in our operations in India. Now we have begun our operations across international borders in the form of credit card distribution in Dubai. Any person in Vadodara can opt for a used car loan in Vadodara from us and get the best service from us. There are 5 such reasons why it is wise to take a used car loan from us in Vadodara. Here are those 5 reasons;

Hassle free process

Why go for a longer procedure when there is a short cut. With Ruloans say goodbye to longer and lengthier processes of loan application. We have created a hassle free process which will help you get the best deal in a shorter period of time. Not only can you fill your form but you can also upload your documents online.

Benefits of applying with us

No one likes to get a bad deal on interest rates. Hence coming to Ruloans is your best choice as we work towards your best interests. You can trust our judgment as we have served customers in over hundreds of places in India and have made sure they are happy.

Compare your loan options

With Ruloans web portal you don’t need to visit any other page online. One page will give you information of loan deals, fees, interest rates being offered from all our partnered banks and NBFCs. Hence you can get the best deal and choice as per your requirement.

Free expert guidance and advice

There is a lot of guidance being offered by our staff which can help them take the decision. There is no fees we charge from our customers for all these advices.

Privacy policy

Apart from all the process, we also ensure that customer data is retained in a secure way and hence all the data gets the best privacy.

How to Apply For a Used Car Loan in Vadodara 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 Vadodara 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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