26 years of working experience
REFILL YOUR WALLET WITH REFINANCE USED CAR LOAN
A very important term in a used vehicle loan is "refinance." Basically, a used car loan is a way to get money for your own car; if you need cash, you'll attempt borrowing it from someone or applying for a personal loan or a business loan, both of which involve a lot of paperwork and take time. However, if you own a car and need money, all you need to do is apply for a refinance facility from any bank or nbfc.
- Easy Funding
- No Hypo Charge with Same Bank*
- Quick Disbursement
- Lowest Rate of interest
Overview
What is Refinance Car loan?
Refinance used car loan is a type of facility or loan by Bank & Nbfc on existing car. Refinance used car loans only have one important requirement: the vehicle must be non-hypo and any previous loans on it must have been paid off by the borrower with good credit. Refinance car loans are a sort of facility offered by banks and nbfc for obtaining financing for your current vehicle. Funding for the refinance is determined by the applicant's credit history, verifiable income, and employment and housing stability. Loan amounts for refinance loans depend on the state of the vehicle and its current insurance value. Typically, Bank & Nbfc fund refinance used car loans between 85 and 140% of insurance value, with variable interest rates across lenders. Therefore, if you need money, all you have to do is apply for a refinance facility on your current car and the money will be credited to your account without having to go to anyone.
Loan amount
Get maximum loan amount on your existing vehicle insurance value between 85 to 140%
Unmateched services
Get Complete end to end support and advisory from research to Hypothecation, and finalising a best deal
Flexible tenure and interest rate
Repay your loan with flexible emi from 12 to 48 month at lowest annually interest rate onwards 14%*
Smooth and Quick disbursement
Save your precious time by smooth and fast processing with less involvement of paperwork, get disbursment within 48 working hours in your account.
Get the Best Deal on Used Car with Us
Why Choose Us?
At “Dealstohdekho”, we strive to provide our customers with the best possible used car loan experience. With a wide selection of high-quality vehicles and a knowledgeable team of experts, we make sure that our customers find the right car to fit their needs and budget. Our focus on transparency, honesty, and fairness sets us apart from other used car loan service providers. From start to finish, we are here to guide and assist you in finding the perfect used car to meet your needs and budget. We provide the best customer service, fast and easy car financing process, competitive rates with no hidden fees and 24/7 help. We are best used car loan provider, our main mission is to get you a vehicle that meets your needs.We offer you the best used car financing options and terms, so that you don't have to worry about finding a lender by yourself. We believe that our customers deserve an exceptional experience, so we put all of our resources behind making sure you get what you need when you need it.
Work Process
How to Apply Refinance Car loan?
Additional Documents
Eligbility For Used Car Refinance
Self-Employed, Non-Salaried and SMEs seeking funds as Used Car Loans will have to furnish additional documents listed below to start the loans process.
- Should be Indian Resident
- Age :21 to 60 years
- Income: Minimum 20k required
- Vehicle should be Non hypo or existing loan should be closed
- Should be Indian Resident
- Age :21 to 60 years
- Income: Minimum 250000 annual income required
- Vehicle should be non hypo or existing loan should be closed
Features
Used Car Refinance Loan Feature
A used car refinance is much simpler to obtain than any other loan; for your reference, below are a few important points about used car refinance loans. Refinance loans act as a backup plan for you when you run out of money or need money in an emergency but lack any immediate resources.
Affordable Finance
"Dealstohdekho"well-known Banks and NBFCs as partners in the quest to offer you affordable finance as a used car loan. Some of our partners even offer you 140% finance.
Low EMIs
Availing a used car loan means availing finance lesser than what's required for a new car loan, and this makes for low monthly EMIs.
Flexible Loan Tenure
Used Car Loan offers you longer loan tenure of maximum 4 years for repayment.
Smooth and Quick disbursement
Save your precious time by smooth and fast processing with less involvement of paperwork, get disbursment within 48 working hours in your account.
Benefits
Used Car Refinance Loan Benefits
One needs to meet the eligibility standards set by the lenders to avail a Used Car Loan. Depending upon individual capacities and automobile valuations, eligibility criteria for used car finance are as follows:
Get instant funding with used car loan in just few hours into your account,some leading Banks like Hdfc offers loan within 5mintues a service called “Jaldi 5” without submitting any major formalities
With Used car loan you can get maximum funding on your car insurance value from 85 to 250% depends on the option you are choosing, you can get maximum amount as compare to current value of car.
Used car loan does not required lots of paper work like other type of loan as Homeloan , business loan,Personal loan,you can get loan upto 35 lac without submitting any financial to the bank
Used car loan comes with the flexible tenure starting from 12 to 84 months, which reduce the burden on emi on your shoulder.
Rate of interest for used car loan starts onward 12 to 16% depend on the bank& Nbfc,for premium segement high ticket cars it starts onward 10.50% which is lower than any other loan today
Additional Documents
Required Documents For Used Car Refinance
Self-Employed, Non-Salaried and SMEs seeking funds as Used Car Loans will have to furnish additional documents listed below to start the loans process.
- KYC documents
- PAN Card
- 2 Photographs
- Last 2 years ITR as proof of income
- Bank account statement (latest 6 months)
- Signature Verification Proof
- Copy of RC & insurance of the car
- Noc required if loan existing loan has recently closed
- KYC documents
- PAN Card
- 2 Photographs
- Last 3 month salary slip as proof of income
- Bank account statement (latest 6 months)
- Signature Verification Proof
- Copy of RC & insurance of the car
- Noc required if loan existing loan has recently closed
- 2 Yrs Financials (Balance Sheet, Profit & loss Account and audit report) with ITR
- Last 6 Months Bank Statements
- KYC of the Authorized Partner
- Ownership Proof
- Copy of RC & insurance of the car
- Copy of PAN of Firm
- Partnership Deed
- Firm Address Proof
- 2 Photographs
- Noc required if loan existing loan has recently closed
- 2 Yrs Financials (Balance Sheet, Profit & loss Account and audit report) with ITR
- Last 6 Months Bank Statements
- KYC of Main/Authorizing Director
- Company Address Proof
- Copy of RC & insurance of the car
- Memorandum of article
- 2 Photographs
- Noc required if loan existing loan has recently closed
EMI Calculator
Monthly EMI ₹
Total Interest ₹
Total Amount Payable ₹
Apply For LoanOur Lending Partner
We Are an Authorized Channel Partner Of All Leading Bank & Nbfc, Providing Financial Services In Pan India
We as AD Finance, corporate with all leading banks & Nbfc, and provide financial services in pan India. Customers can choose and compare lenders from an exhaustive list of 25+ Banks & Nbfc according to financial need.
Frequently Asked Questions
-
What are the major benefit of used car refinance?
Used car refinance is just work like an emergency backup of funds for you,you can apply a loan on your existing car and can get a good amount more than your car’s valuation by just fulfiling few required formalities by Bank/Nbfc.
-
What are the documents required for used car refinance loan application?
Very simple and few paper required to apply a a refinance car loan you just need to submit your Photo id,your address proof ,income proof along with Vehicle Rc and insurance and Noc if any loan on your car has recently closed,on the bases of these documents you can get a good amount on your car.
-
Can in foreclose my used car Refinance loan?
You can foreclouse your loan when you have extra inflow of cash and don’t want to pay EMIs, thereby saving up on interest payable. foreclouser charges and fee will be applicable as agreed while sanctioning the loan by lender.
-
Is a gurrrantor required in used car Refinance loan?
If you have purchased your car on cash and and than no need to submmit any gurrantor,but if you have closed any loan on car with already added gurrrontor ,bank can re demand the same gurrontor in deal
-
What is the max tenure for used car refinance loan?
You can avail used car refinance loan tenure onwards starting from 12 to 48 month,depends on lenders.
-
Can I get loan amount more than market value of my car?
The best part of refinance is you can get upto 140% of your car’s insurance value,which is higher than car’s market value.
-
can I get used car refinance loan on low cibil score less than 650?
Generally bank/Nbfd need 700+ cibil to fund a used car refinance loan,but with the proper justificaiton, if bank/nbfc feel comfortable,loan can be sanctioned.
-
Is Hypothecation is compulsory in used car refinance loan?
If you car is non hypo, you would required to hypo with lending bank, but if you have recently closed your loan and still you have same hypo on your RC, then you would not required to follow the hypo process.
Recharge with Refinance
Refinance your Car & Get Cash in account in 48 Hrs
Financial difficulties? Just apply for our refinance vehicle loan service and receive money in your account within 48 working hours.
Get Assured Gift On Your Refinance With Us
