You may get plenty of options if you are planning to buy a second-hand car on loan. You can search online, look for the car of your choice, book appointments, make payments, and apply for second-hand car finance, entirely through online mode. There are several lenders that provide instant and paperless loans. You can also ask a dealer for loan offers on used cars and he will check your eligibility with his lending partners. However, you will get several advantages if you apply for a Hero Fincorp second hand car finance. Read on to know about them in detail before you apply for a loan on a used car.
The offers by Hero Fincorp on a second-hand car loan include the following:
Â·Â Â Â Â Â Â Â Â Options of different types of EMI (equated monthly instalment) consist of two methods
Ã˜Â Standard EMI
The loan interest and monthly instalments would remain fixed throughout the repayment tenure. This is ideal if you are a salaried individual having a steady monthly income that would come in regularly to your account.
Ã˜Â Structured EMI
Under this method, you can customise the second-hand car loan EMI. Usually, the EMI would remain low during the initial period of the loan term and increase thereafter. If you expect an increase in salary or have your own business and are anticipating profit, this method would suit you.
Â·Â Â Â Â Â Â Â Â Loan amount
The loan amount and your eligibility would depend on the value of the car that you are purchasing. Under Hero Fincorp second hand car finance, you may get a loan starting from Rs 50,000 up to Rs 50 lakhs, depending on the car brand. However, there are several factors that they would consider like your age, income, etc, before disbursing the loan.
Â·Â Â Â Â Â Â Â Â Quick approval of loans
If you are eligible, you may get instant loan approval with a loan repayment term of five years along with an interest rate that would be comfortable for you. Check on the free online EMI calculator and get accurate results related to EMI, interest rates, loan tenures, etc.
Â·Â Â Â Â Â Â Â Â Documents that you require for a used car loan
The documents that you have to submit are minimal and include the following:
Ã˜Â Application Form
Ã˜Â Car registration certificate
Ã˜Â Age proof consisting of PAN card or driving license or passport, etc.
Ã˜Â Proof of verified signature
Ã˜Â Income proof
Ã˜Â Address Proof
Ã˜Â Salary slips if you are salaried
Ã˜Â MSME registration certificate if you have a small business
If you are planning to buy a used car, you can save a significant amount in the process and it would be more affordable if you have a tight budget. The process of getting a Hero Fincorp second hand car finance is easy, as they have features that would be convenient for you. The loan amount has a wide range that would help you to choose your favourite brand depending on your requirement and the fund that you have allocated for the purpose.
Contact Us & Send Query-
Hero FinCorp Limited
09, Basant Lok, Vasant Vihar, New Delhi â€“ 110057
Email Id: Corporate.Care@HeroFinCorp.com
Website – https://www.herofincorp.com/
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