Dreaming of a reliable used car without breaking the bank? Shriram Finance and Other Companies offers quick used car loans from ₹1 lakh at 10% p.a. interest. Up to 48-month tenures, 85% car value financing–salaried/self-employed apply online easily.
Loan Quick Facts
Interest starts at 10% p.a. – competitive for used cars. Loan tenures stretch up to 48 months for easy EMIs. Minimum age 21 years, all Indian residents qualify. Loan amounts begin at ₹1 lakh, perfect for popular pre-owned models. Moreover, up to 85% financing covers most car values based on eligibility.
| Feature | Details |
|---|---|
| Interest Rate | 10%* p.a. onwards |
| Loan Tenure | Up to 48 months |
| Min Age | 21 years |
| Loan Amount | ₹1 lakh to ₹10 lakh |
| Financing | Up to 85% car value |
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Key Features & Benefits
Competitive rates make monthly payments affordable. Flexible 48-month tenures suit any budget. Shriram finances up to 85% of used car value. Simple online application takes minutes. Minimal documents speed things up. Quick approvals and disbursals get you driving fast. Regular reminders prevent missed payments. Meanwhile, free EMI calculator shows exact costs upfront.
Eligibility Criteria
Salaried individuals need steady income matching car model, age under 59 at maturity. Self-employed same rules apply – minimum 21 years old. Vehicle age and repayment capacity determine approval. Therefore, higher income unlocks better terms. On the other hand, both categories enjoy hassle-free process.
Required Documents
Fill simple application form first. Submit vehicle RC (Registration Certificate). Provide KYC docs like Aadhaar, PAN. Income proofs via salary slips or ITR for salaried/self-employed. However, minimal paperwork keeps it quick. Our rep verifies everything post-application.
Read Also : Tata Tiago ₹4.57 Lakh-28 Km/Kg CNG AMT Perfect Daily Office Commute Car!
4-Step Application Process
Step 1: Register with mobile number.
Step 2: Verify via OTP instantly.
Step 3: Enter personal, financial details.
Step 4: Submit – Shriram rep contacts you fast.
Digital process makes it seamless. Use EMI calculator for ₹1 lakh loan at 10%, 18 months: Monthly EMI around ₹6,006, total interest ₹8,103.
FAQ
Minimum age for used car loan?
21 years for both salaried and self-employed – max 59 at loan end.
What’s the starting interest rate?
10% p.a. onwards – competitive for pre-owned vehicles.
Max financing percentage?
Up to 85% of used car value based on eligibility and vehicle condition.
