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Used Car Loan Eligibility


Eligibility

You need to meet some basic conditions to be eligible for a Used Car Loan. Following are the general Used Car Loan eligibility factors:

You need to be in the age group of 21-65 years.

You should earn a salary of ₹ 20,000 per month.

You should have a minimum of 1 year of work experience.

Documentation

You need to submit:

The standard documents required to establish your credentials.

Proof of identity and proof of residence.

Income documents, ITR, trade license and ownership of business documents relevant to your salary, profession or business.

Documents required for Used Car Loan

Photo Identity Proof

A copy of your Voter ID / Passport / Driving License / Aadhaar Card / PAN Card

Income Proof

A copy of your Salary account bank statements for the last three months

Salary Slips

A Copy of your Salary slips for the last three months

Address Proof

A copy of your Ration Card / Electricity Bill / Passport

Vehicle Registration Certificate

A copy of your Vehicle's registration certificate

Telephone/Mobile Connection

A copy of your telephone / mobile bill is required

Used Car Loan Eligibility

 

  • Must be the proprietor
  • Aged between 21 and 65 years
  • Business must be running for 3 years
  • Income of ₹2 lakhs per annum
  • Telephone or Mobile connection is required
  • 3 Months Bank Statements are required and ABB should be 0.5 times EMI

Documents required for Used Car Loan

Photo Identity Proof

A copy of your Voter ID / Passport / Driving License / Aadhaar Card / PAN Card

Signature Proof

A Copy of your proof with your signature

Address Proof

A copy of your Utility Bill / Bank Statements / Property Registration Documents / Property Tax Receipt / Voter ID

Income Proof

A copy of your Income Tax Return documents, Audited balance sheet & Profit and Loss statement along with your Bank Statements for the last 3 months

Telephone/Mobile Connection

A copy of your telephone / mobile bill is required

USED CAR LOAN ELIGIBILITY

 

  • Either the Firm or the Individual partner must have an income of ₹2,00,000 per annum
  • 3 Months Bank Statements are required and ABB should be 0.5 times EMI
  • Telephone or Mobile connection is required

Documents required for Used Car Loan

Photo Identity Proof

A copy of your Voter ID / Passport / Driving License / Aadhaar Card

Income Proof

A copy of your three Months Bank Statements are required and Accelerated Book Build should be 0.5 times EMI & Audited Balance Sheet & Profit and Loss Statement.

Business Proof

A copy of your company's registered Partnership Deed / Certificate of Incorporation of public and private limited companies including Memorandum and Articles of Association along with a copy of the Commencement of Business certificate

Telephone/Mobile Connection

A copy of your telephone / mobile bill is required

Used Car Loan Eligibility

 

  • The individual should have income of  ₹2 lakhs per annum
  • Landline connection at office
  • 3 Months Bank Statements are required and ABB should be 0.5 times EMI

Documents required for Used Car Loan

Photo Identity Proof

A copy of your Voter ID / Passport / Driving License / Aadhaar Card along with a photograph

Address Proof

A copy of your Utility Bill / Bank Statements / Property Registration Documents / Property Tax Receipt / Voter ID

Income Proof

A copy of your Income Tax Return documents, Audited balance sheet & Profit and Loss statement along with your Bank Statements for the last 3 months

Certificate of Ownership

A copy of your Registered Partnership Deed or Certificate of Incorporation of Public and Private Limited Companies including Memorandum and Articles of Association

Telephone/Mobile Connection

A copy of your telephone / mobile bill is required

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