Used Car Loan in Chennai

Purchasing a car is a big financial commitment. There is no doubt that most people need to save up for a long time or take out a loan (and then fumble around to pay the bank back) in order to finance their very own car. The recent spike in GST has only added the burden on the average citizen in Chennai on the hunt for an affordable car. That’s one reason that more people are open to the option of second-hand cars, particularly if it is their first car. 

Once you have decided that it is time for you to pull up and socks and purchase a car of your own, the first thing you must do is research your options. The options are huge and you could be overwhelmed. Your research should include the type of car that is best for your needs, what must be avoided, which dealer is best, etc. Additionally, it would be great if you can talk to friends who are experts in this particular field and have purchased used cars before. 

WHY GO FOR A PRE-OWNED CAR LOAN?

Here are some of the reasons that you should go for a second-hand car instead of a first-hand one:

• Skip the steepest depreciation
  Many people would argue that purchasing a car is not a great investment. That is because cars depreciate in value very quickly. The steepest depreciation happens in the first two years. So if you go for a second hand car, you will be skipping this and letting someone else take the hit.
• Cost Effective
  The huge difference in price has to be the most obvious reason that people choose used cars. Even if you have a modest budget, there is a good chance that you can get a better model car if you go for a second hand rather than a first-hand. What’s more, in the little budget that you have, you can also get added bonuses like a sunroof, which would not be possible with a new car.
• Reliability
  Unlike what it was a few decades ago, second hand cars nowadays are built to last. As long as they are maintained well and handled with care, they should last a very long time. Manufacturers now offer longer warranty periods because of the high quality standards they uphold.
• Certification available
  Once you find a well reputed, certified dealership, the rest should be much easier. That’s because a certified dealership will thoroughly inspect the cars and mend any issues it may have, both mechanical and cosmetic. The certification will also check off any major accident that the car may have had. In Chennai there are numerous reliable dealerships that you can check out before narrowing down on one. Make sure you keep your eyes and ears open because you never know when a sweet deal for a car will turn up.
• Practice makes perfect
  Instead of heading out with a brand new car when you are a new driver, it makes more sense to practice your skills on a second hand car instead until you become an expert at driving.
• Easy financing
  Getting a loan approved, particularly from Qbera, for a pre-owned car is easier than ever before. The Down-payment and EMI would in fact be cheaper for a used car than for a new car. Now what’s your excuse? Go ahead and park your very own car in that garage.

BENEFITS OF FINANCING YOUR PRE-OWNED CAR WITH QBERA:

• No collateral
  The second hand car loan that you can avail from us is a type of personal loan which means that it is unsecured and thus you do not need to put up your car as collateral. This will save you time, money and effort when you finish the repayment.
• Up to 100% financing
  You can fund the complete expense of your new car with Qbera; even the down payment.
• One day approval
  No waiting. Application, approval and disbursement of your funding can be done in just a day!
• Interest Rate
  The APR charged by Qbera is between 14-24%, which is on par with the current market rates.
• Fees and other charges
  We offer some of the most competitive rates when it comes to fees and other charges for second hand loans. The processing fee is a mere 2-3% (this will be based on the amount borrowed). Other charges like prepayment charges, late payment fees, ECS/cheque bounce charges and special service request charges are as per the RBL norms.
• Complete support
  Taking a personal loan from Qbera means that we are committing to support you the way you deserve. We are available anytime between 10AM – 6PM IST on weekdays and 10AM to 1PM on weekends, for any queries that you may have while making your decision and long after. The Qbera staff can be reached via whatsapp at +91 89719 28484, by chat on the website or you can email us.

HOW TO APPLY FOR A USED CAR LOAN IN CHENNAI VIA QBERA:

Getting a second hand car loan via Qbera in Chennai is as easy as buying a dosa. It’s a simple five step process:

• Simply log on to Qbera.com and fill in the loan application form (which takes just about 5 minutes)
• Upload your bank statement on the website.
• Receive an offer from us within 4 hours
• A representative will come to you, at your convenience, to collect the documents
• The amount will be transferred to your account in less than 24 hours

Documents Required for Used Car Loan:

• Bank Statement
• One photograph
• 3 cancelled cheque leaves
• Income proof
• Aadhar card
• Pan card
• Address proof

USED CAR LOAN ELIGIBILITY CRITERIA:

• Should be employed with a minimum salary of Rs. 20,000
• Should have a minimum credit score of 625
• Applicants must be between the ages of 23 and 55