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GET USED CAR LOAN AT AFFORDABLE INTEREST RATES


            It is a long cherished dream of thousands of people across country to own a brand new sets of wheels but the finances needed to own the car can rustle up their dream. There is an incredible range of car loan schemes available in the market but not everyone can afford the high EMI and interest rates associated with it. So the popularity of used cars has increased and has exceeded the number of new cars being bought in past few years. The banks are offering used car loans that have been designed to suit the purpose that preferred to buy a used car over new to get their hands on their object of desire. If you are looking to purchase a used car at affordable price, then you have come to the right place; ShubhBank. We offers the easy availability of loan with a wide range of buying options and procedure is lot easier than it used to be. The used car market is on upswing as they come at hugely discounted price as compared to brand new car of same model. The loan offered for pre-owned car is slightly different as the financial intricacies are determined depending upon the age of the car and its model.

            The special features available for refinancing the car are different in comparison of new one. The amount offered is typically 60% of the on road price and may be increased to 80% in certain cases. The maximum age of the car do not exceed from 3-5 years from the time of purchase of new one. The tenure for the repayment ranges from 3-5 years and not be extendable. The EMI is always lower than that of new car in most of the cases. The rate of interest applicable on the loan service is decided on the norms of bank that varies from bank to bank. You have to bear some essential points in mind while taking used car that to check the past record of accidents and problems and the associated maintenance problems with it. Ensure yourself with all the legal documents of the car to avoid any rejection in the application process. You can zero in on the car that you want and get satisfied with its make and model and then browse through and compare out fantastic range of loan options and its parameters such as interest rates, documents required, eligibility conditions and more.

            The mini mum age of the borrower should be at least 21 years to be eligible for the loan. The other criteria’s related to the eligibility are your regular annual income, good credit history, repayment capacity, legal documents of car etc. You can grab a loan whether you are salaried or self-employed depending upon the different terms and conditions for both. For this you have to submit the copies of your ID proof, salary slip/Form 16, audited balance sheet for 2 years, income tax returns and car papers. If we provide a convenience for what you are looking for, then you could explore and "Apply For a Loan" at our website ShubhBank.com.


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