How would you feel if you got to know that you can get up to 200%* of your dream car’s value as the loan amount? With Ruloans, everything is possible. When you opt for a used car loan through us, you can get up to 200% of financing for your dream car.
Mr. Sharma wishes to purchase a second hand vehicle from Hyundai whose cost is 1.5 lakh rupees. He searches online for various Banks and NBFCs that are offering pre owned/second hand car loans for good deals and offers. He finally applies via Ruloans to find the best deals. After contacting Ruloans, he gets to know that he can actually get up to 3 lakh rupees as the loan amount. This means he can not only purchase the car but also get the insurance, maintenance and other costs sorted too.
Primary Features of a Used Car Loan:
Flexible tenure which can go up to 84 months (7 years)
Maximum loan to car value ratio which can go up to 200%
Lower rate of interest when compared to personal, home and business loans.
Primary Eligibility for a Used Car Loan:
You must be aged above 21 years and up to a maximum of 65 years*
The car which you want to purchase must not be older than 8-10 years*.
You must be a salaried employee or a self employed professional/businessman.
Your total work experience or business existence must be minimum 1 year.
So getting a pre owned car loan gets very easy as you just need to fulfill the basic eligibility towards the bank and that will help you apply for the loan with ease.
Importance of loan/credit card bill repayment history:
If you have every applied or thought of applying for any kind of a loan, then you know the importance of your credit score and credit history. If it’s on the higher side, Banks will always give you good deals and offers. If it’s on the lower side, you will always have to pay higher interest amount as you are not reliable as per the lender.
Ruloans provides the best deals to those who always pay their dues on time and pay in full. If you have ever used a credit card or taken a loan and have paid all your dues on time, then we can help get you the best deals available in the market.
If your loan/credit card bill repayment history for minimum 12 months is clean and without any default then we can help you get more than 100% of the used car’s value as the loan amount. If your repayment history is clean for over 18-24 months*, then Ruloans can help you get up to 200% of the used car’s value as the loan amount.