If you are intending to buy a used car, applying for Hero Fincorp Used Car Loan Financing would be a smart option. You can apply for a loan for the car of your choice, and make payments, all online on your smartphone. The loan is instantaneous and does not require any paperwork. But there are certain things that you should check before you apply for the loan.
Before you finalise a used car model and prepare for the loan procedure, check certain important things that include:
Â·Â Â Â Â Â Â Â Â Going through the car papers
Before making the payment, check the carâ€™ papers thoroughly. Check the long-term car insurance papers to see if there have been claims or accidents. The best way is to see if the policy has any no claim bonus (NCB). The engine number and the chassis number should match in the papers.
Â·Â Â Â Â Â Â Â Â Transferring the documents
Get the registration certificate (RC) transferred to your name. The ownerâ€™s name gets changed in the RC copy within 40 to 45 days. Get the third-party car insurance policy transferred to your name or you can buy a new policy altogether. Other crucial documents that you should check are the service book, a Valid Pollution Under Control certificate, and No Objection Certificate if the previous owner bought it on loan.
Â·Â Â Â Â Â Â Â Â Age of the car
Stay away from any car that is older than ten years as it may be difficult to get loans or there may be stringent conditions and higher interest rates even if you get the loan. Check the terms related to Hero Fincorp Used Car Loan Financing from their website. It is ideal to go for a car that is less than 5 years old.
Â·Â Â Â Â Â Â Â Â Renew or buy car insurance
Having car insurance is very important as you will get fined or jailed if you drive without the document. If the car already has an insurance policy, you may renew it on time or upgrade it or cancel it to buy a new policy. Ensure that the car is always covered. You may buy add-on policies for extra coverage at a slightly higher cost.
Getting a loan on an old car is a fantastic idea because you would not have to pay the complete amount all at once. You can apply for a loan and make the necessary payments. This would reduce your financial stress related to finances. However, while planning to buy a used car through Hero Fincorp Used Car Loan Financing, keep the recommendations above in mind and be sure that it matches your requirements. You are spending your hard-earned money on the car, so double-check everything to avoid any issues after the loan transaction is completed. Go through the documents, particularly the car insurance papers, registration certificates, and so on. To avoid the headaches of paperwork, make payments online as the process is fast, easy and you can complete it at a time convenient for you.
Contact Us & Send Query-
Hero FinCorp Limited
09, Basant Lok, Vasant Vihar, New Delhi – 110057
Email Id:Â Corporate.Care@HeroFinCorp.com
Website -Â https://www.herofincorp.com/
https://twitter.com/herofincorpltdÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â