Used Car Loans Bangalore
Second Hand Car,Bike & Auto Loans in Bangalore
Thinking of buying a new car? Here is why you should consider a pre-owned car instead
Buying a car is a major decision, especially if it is your first one. Here are a few reasons why you should consider buying a second-hand car instead of one that is brand new:
For starters buying a 2nd hand car is more economical than buying a brand new car of the same make. You can expect to save at least 40% on the cost of a new car by going for a pre-owned one. Alternatively, if you already have a budget in mind then you can get a much better car for the same amount of money.
Unlike a few decades ago, cars of today are well engineered. Which means that the second-hand car that you purchase should not give you trouble during your ownership. However, it’s a good idea to get it checked by a trained mechanic/purchase from an authorized dealer to be on the safer side.
Unlike a home investing in a car is subject to depreciation. That means that your car loses its value over time which is especially high in the initial years. Instead, you can use the money saved to invest and grow your wealth by opting for a Used Car Finance.
Cost of Ownership
The annual spend on insurance of a new car can add up significantly to the overall cost of maintaining the vehicle. Since the insurance cost is calculated as a percentage of the depreciated value of car you will spend much less if you decide to purchase a pre-owned car.
Learn and gain confidence
If you've just learned how to drive a four-wheeler, it is a good idea to practice on an old car and hone your driving skills. Once you gain the confidence you can always sell your second hand car and buy a new one instead.
Easy finance availability
With the growth in the car market over the last few year financial players are now offering attractive finance options for the purchase of used cars. At Qbera, we are committed to providing you a second hand car finance, second-hand car, bike & auto Loans or a used car finance in the easiest and fastest possible way; so that you can drive home your dream vehicle today.
SECOND HAND CAR, BIKE & AUTO LOAN FINANCING
So you have finally decided to buy a used car. Here is why you should choose Qbera for your used car loan financing?
Collateral Free Second Hand Car, Bike & Auto Loan
Unlike other lenders we will not ask you to hypothecate your vehicle. This saves you time, effort and money which otherwise you would spend on transferring the vehicle in your name post the loan term completion/sale of vehicle.
Up to 100% Used Car Finance
We are willing to fund up to the full value of your second hand car. With Qbera, there is no need for a down payment while purchasing your dream pre-owned vehicle.
Same day Disbursal 2nd Hand Car Finance
No need to wait for days to get the money in your account. With Qbera you can get your loan application approved and disbursed on the same day.
We are available 24x7 to help answer any queries that you may have regarding the finance for used cars. You can reach us on whatsapp at +91 89719 28484 or chat with us on our website or email us.
Qbera may be able to help when you need it the most. Apply now for a smart hassle-free loan in bangalore.
1. What is the tenure of a personal loan from Qbera?
The loan tenure at Qbera is a flexible one and it ranges from 1 to 5 years (12 to 60 months).
2. What is an EMI?
It is the fixed amount that a borrower pays to the lender on a particular date every month. An EMI includes the principal and interest charged on a loan.
3. What is the minimum and maximum loan amount that I can get from Qbera?
The loan amount ranges between Rs. 25,000 to Rs. 10 Lacs.
4. What is unique about Qbera?
Our technology and lending partnership allow us to offer a world-class experience to our borrowers:
- Paperless application
- Instant lending decision
- Digital verification of income, employment and residence
- Disbursement of loan within 24-48 hours
Our CIBIL score cut-off is 625 and we can give loans to employees of more than 9 lac companies in India. Now you don’t have to get rejected by banks just because they have not analyzed and categorized your employer.
5. What should be my age to apply for a loan with Qbera?
You must be at least 23 years old to apply for a loan.
6. What should be my minimum salary to get a loan?
Your net monthly income must be Rs. 20,000 or more.
7. What should be my CIBIL score cut-off for a personal loan?
Our CIBIL score cut-off is 625 (V2 score).
8. What is the rate of interest charged on a personal loan?
Rate of interest depends on a borrower’s income, CIBIL score, employer, age etc. Qbera collects information from your application form and various other data sources to create a personalized loan offer for you. Our interest rates start at 11.99%.
9. What is the eligibility criteria to get a loan from Qbera?
To get a loan from Qbera, a borrower should meet the following eligibility criteria:
- Must be a salaried employee.
- Age must be between 23-55 years.
- Net monthly income must be Rs. 20,000 or more.
- No defaults in the last 24 months.
- You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai or Hyderabad.
10. How do I apply for a loan online?
To apply for a loan online, click here. For queries, please Whatsapp us on +91 89719 28484.
11. What are the documents required to get a loan from Qbera?
The following documents would be required after your loan is digitally approved:
- Aadhar Card
- PAN Card
- 4 cheques from your salary account
- Current address proof
- Permanent address proof (in case the permanent address is different from the address on Aadhar card)
- Passport size photo
12. What is the processing fee charged on a personal loan by Qbera?
The processing fee ranges between 2% - 4%.
13. How can I repay my loan?
Qbera provides easy repayment of its smart loans through automatic debit of EMIs via NACH mandate.
14. Why was my loan application rejected at Qbera?
Although we have one of the best approval rates in the industry, we may have to reject some applications if they do not meet our basic qualification criteria. You can re-apply after 3 months in case you think that your credit profile has improved.
15. Can I re-apply for a loan?
Qbera requires you to wait for at least 3 months before re-applying for a personal loan.
16. How much time does Qbera take to process a loan application?
It will not take more than 10 minutes to fill up your online application form. Our technology allows us to disburse the approved loan amount within 24-48 hours.
17. Is part/prepayment allowed on my personal loan?
We do not allow part-payments. However, you can prepay your loan after completing 1 year of repayment. (Foreclosure charges: 5% + GST applicable).
18. Do I need to submit any collateral to get a personal loan from Qbera?
All personal loans offered by Qbera are unsecured. Hence, you need not submit any assets or property to secure a loan.
Interest Rate & Other Charges
||11.99% to 35.99%
|| 1% to 5% of total loan amount
||₹1,00,000 to ₹15,00,000
||12 to 60 months
- Processing Fee deduction of ₹5000 (2.5% of 2 Lacs) from loan amount, thus, the amount credited to your account will be ₹1.95 Lacs
- EMI of ₹7091 per month
- Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
- Total Interest paid in 3 years = ₹55,276, hence, annual interest paid = ₹18,425 (which translates to an effective flat annual rate of interest of 9.21%)
- Age: 21-57 years old
- Net Monthly Income must be more than Rs. 18,000.
- No defaults in the last 24 months.
Documents Required after Digital Approval
- Aadhaar Card
- PAN Card
- Current Address Proof
"I am really happy that I got a loan from Qbera. My application has been rejected by lenders in the past without giving any explanation for rejection. Qbera approved my loan with minimum documents. Thanks a lot once again."
I did not want to make many enquiries as many requests can lower the CIBIL score. I contacted Qbera on a Monday and by evening itself they had an offer for me. They kept me informed through every step of the process and were also flexible with regards to my commitments. In the end, the loan was disbursed within two days of documents submission. Thank you Qbera for simplifying the process and helping me find a loan. " Show more...
"It was a nice experience with Qbera. I have never seen such an easy process for getting a loan, especially when you need it the most. Thank you Qbera for your support."
"I had a hassle-free experience with Qbera. It was a very easy application procedure and in a short span of 3 days I got my loan credited to my account. Thank you so much for the support Team Qbera"
"It was very easy to get a loan from Qbera. I just applied on their website and got a confirmed offer immediately. The amount was transferred soon after. Will give it 5 out of 5"
"It's good and quick response from the Qbera team to get the loan. They are very good at the communicating the things properly and appropriately"
The government recently amended rules under the Prevention of Money Laundering (Maintenance of Records) Rules, 2005, to extend the deadline for Aadhaar linking against all financial accounts
Following a Supreme Court Order dated 13th March, 2018, Insurance regulator IRDAI extended the deadline for linking the 12-digit unique identity number with various insurance policies.
A day after SBI hiked deposit rates across maturities, the largest lender of India also raised MCLR by up to 25 basis points. MCLR is now at 8.15 percent which was earlier at 7.95 percent. This signals a possible increase in the EMIs of all types of loans – starting from personal loans to home, auto and other loans. ICICI Bank and Punjab National Bank (PNB) also hiked their MCLR by 15 bps. PNB home loans will now be at 8.6% and for women it will be 8.55%.
A loan can get you and your loved ones the comfort of a car and security of a home, and many other things. But your real responsibility begins only after taking the loan.