Planning to buy a pre-owned car? mybankmantra.com provides upto 100% finance for used cars, with hassle-free processing, minimal documentation and quick disbursals. .
We also finance a used car you may want to buy from friends, family or other car-owners.
When you take a used car loan from mybankmantra.com, you are guaranteed peace of mind, because we do all the due diligence and ensure a smooth title transfer.
Our online Used Car loan application process is one of the fastest, simplest ways for you to get the funds you need to get on track towards financial freedom.Apply for loan
Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for a Used Car loan loan.
Maximum age of applicant at loan maturity: 60 years
Minimum Net Monthly Income: Rs 15,000
Applicant should have the bank specified credit score.
We have published some of the FAQ's for general guidance, information and assistance of users.In case your unable to get your answers please write to us at email@example.com.
A lot of financial institutions offer up to 90 per cent of the car value as auto loan. However, the final value might vary with lender. They check factors such as vehicle cost, type and value in second hand market while deciding the amount of loan to offer. Some banks might even lend 100 per cent of the car value.
Typical tenures for car loans range from 1-5 years. You can opt for a lower tenure loan if you can service a higher EMI (equated monthly instalment) or a higher tenure loan if you cannot afford high EMI. Some lenders also offer loan tenure up to 7 years.
If all the required documents are in order, your process moves fast. You need to submit requisite documents like salary slip, tax returns, proof of residence, bank statements etc. The processing will take between 2 to 7 days.
The required documents for Used Car loan vary from one financial institution to another, some of the key documents that you would need to provide with your Used Car loan application include:
KYC Documents : Proof of Identity; Address proof; DOB proof.
Proof of Residence
Latest 6 months Bank statement.
A-8, 1st Floor Priyadarshni Vihar,
Above AU small finance Bank,
Delhi - 110092
Email - firstname.lastname@example.org