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Piramal Finance Used Car Loan
Being a car owner used to be seen as a luxury because hardly anyone could afford to do so. For many people who could afford to pay those enormous sums of cash in one go to get their dream automobile, purchasing a car was a significant life achievement. With the changing economy, shifting demographics, and the emergence of car loan lenders, having a car is no longer considered something of a luxury for the vast majority of middle-class Indians; it is instead a need made attainable by taking out a car loan.Powered By
Piramal Finance Used Car Loan
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Here are a few factors
| Security | We request no collateral for our loan. |
| Loan Amount | Starting from Rs.2,00,000 |
| Tenure | Starting from 12 months to a maximum of 60 month |
| Interest Rates | The rate offered by Manappuram finance limited for car loans is as low as 6.99% only. |
| Required salary | Minimum 20k (Monthly salary * 12*4= Loan eligibility) |
| Purpose of loan | Purchase of a car |
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
Documents required for Piramal Finance Used car loan
PAN Card
Aadhaar Card
Driving Licence
Loan repayment track (if any).
Vehicle details
Registered rent agreement
Your current Job identity proof or company ITR documents
Salaried income documents
Your relevant last 6 months' bank statement
Salaried private or public companies employees
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Minimum age of 21 years
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Maximum age of 60 years at the end of the tenure of the loan.
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Car loan application form
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Last 6 months’ bank statement
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Identity and Address Proof
Self Employed private limited company
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Car loan application form
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Last 6 months’ bank statement
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Identity and Address Proof
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Income proof: Form 16 and ITR for 2 years
Eligibility
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Salaried Individuals who are private or public companies employees and are eligible for applying for a car loan
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Self Employed Individuals who are the sole proprietors of the business and are eligible for a car loan
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Self-employed individuals of a private limited company who are eligible for a car loan
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Self-employed individuals of a public limited company
FREQUENTLY ASKED QUESTIONS
Piramal Finance, A popular NBFC in India called Piramal Finance provides a financial product called a used car loan. It enables people to take out loans to pay for the purchase of a secondhand automobile.
Yes, almost every lender will impose a penalty on you if you pay off your loan early, with the exception of a handful, like Indiabulls, UBI, and Tata Capital, which do not.
Lenders typically consider your credit history when determining your capacity for repayment. Only if your credit rating is 750 or above will the majority of financiers consider you for a loan.
No, you would not be required to submit any collateral or security to obtain a used automobile loan since the car itself would be regarded as a security.
Yes, you may apply for a loan to buy a used automobile together with a co-applicant, although this is only essential if your income falls below the qualifying level.
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