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Used Car Loan Features and Benefits
Now that you are seriously considering a used car as your vehicle, the next step should be making it a reality at the earliest. A used car loan is a great tool to make this happen. There are various features and benefits of a used car loan. Read on, to see how this is the right choice for you!
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Benefits of Used Car Loan
Used Cars in general have the added benefit of lower cost of ownership. Adding to that Used Car Loans comes with certain benefits including
- Lower EMIs or monthly payments you need to make each month to repay your loans
- No Need for Additional Collateral, which is often a necessity in other loans
Quick Apply and Avail the Benefits
- Step 1:
Click on the ‘Apply Now’ Button. - Step 2:
Fill in the basic details & register with your mobile number. - Step 3:
Our Used Car Loan expert will get in touch with you shortly.
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Features and Benefits of Used Car Loan by Piramal Finance
- Up to 90% Financing on Used & Second-Hand Car Loans
Customers can avail up to 90% of the car’s cost as a loan, significantly reducing the need for a high down payment. This makes owning a quality pre-owned car much more accessible and affordable. - Flexible Repayment Tenure for Pre-Owned Car Loans
We offer repayment options ranging from 12 to 60 months, allowing you to choose a tenure that best suits your financial comfort and monthly budget. - Competitive Interest Rates on 2nd Hand Car Financing
With low and competitive interest rates, our used car loan is designed to keep EMIs affordable. It’s a budget-friendly financing solution that ensures long-term ease of repayment. - Hassle-Free Documentation for Second Hand Car Loan
The documentation process is simple and straightforward. Applicants only need to provide basic KYC and income proof, making the loan application process smooth and stress-free. - Super-fast Loan Sanction for Used Car Loan Applications
Time is valuable, and we respect that. Customers benefit from swift loan approvals and fast disbursals, so they can finalize their car purchase without unnecessary delays. - Quick online application process with assisted support
From application to approval, the entire process is online. Applicants can apply online with ease, and the support team promptly follows up to assist with the next steps.
Frequently asked questions
Are there tax benefits on a used car loan for personal use?
If you're buying a used car for personal use, there are no tax benefits available on the loan under Indian tax laws.
Is it a good idea to buy a used car on loan?
Buying a used car on loan can be a smart choice to own a reliable vehicle without paying everything upfront. With Piramal Finance, you can get up to 90% of the car’s value as a loan and choose a repayment period from 12 to 60 months that fits your budget. The interest rates are competitive, and the process only needs basic documents like KYC and income proof. Our quick and simple application helps you get the loan fast, making it easier and more affordable to drive a quality used car.
How much loan amount can I get on a used or second-hand car?
You can get up to 90% of the car’s value as a loan. This significantly lowers your initial outflow and makes owning a pre-owned or second-hand car more accessible.
What is the repayment tenure for a used car loan?
We offer flexible repayment options ranging from 12 to 60 months. Choose a tenure that suits your budget and repayment capacity.
Are the interest rates for used car loans competitive?
Yes, our interest rates are highly competitive, helping you keep EMIs manageable. Our goal is to offer budget-friendly 2nd hand car financing for all types of borrowers.
What documents are required to apply for a used car loan?
You just need the basic KYC documents and income proof. Hassle-free documentation makes the process fast and simple.
How quickly can the used car loan be sanctioned and disbursed?
We offer quick loan approvals and fast disbursals, so you can finalize your used car purchase without delays.
Can I apply for a used car loan online?
Absolutely. Our 100% digital application process lets you apply online in just a few steps. Our team will promptly reach out to assist you further.
Do I need a guarantor or additional collateral for the loan?
No, you don’t that. The car itself serves as collateral, so no additional security or guarantor is required.
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