Used Car Loan in Hyderabad
Used Car Loan in Hyderabad
Cars are expensive. There is no denying that purchasing one burns a big hole in your pocket and the recent spike in GST hasn’t helped us here in Hyderabad in any way. Especially those of us buying a car for the very first time. That is just one of the reasons why there are more and more people opting for second-hand cars.
WHY GO FOR A SECOND HAND CAR?
When it comes to purchasing a used car, the plethora of options are huge and confusing. As a first-timer you may get overwhelmed which is why you must do your homework and research your options. This includes and is not limited to the type of car you need, what must be avoided, which dealer is best, etc. It would be a good idea to consult friends who are experts and have purchased second hand cars before.
HERE IS WHY YOU SHOULD CONSIDER BUYING A PRE-OWNED CAR:
The most obvious reason that people choose used cars is because of the huge difference in price. 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 you have, you can also get added bonuses like a sunroof, which would not be possible with a new car.
Skip the steepest depreciation
Another great reason for purchasing a used car is the fact that you can skip the steepest depreciation of the car which happens in the first two years. You pretty much let someone else take the beating.
Practice makes perfect
If you are a first time car owner or a new driver, it makes sense to go for a second hand car instead of a first-hand one while you become an expert at driving.
A used car is not what it was a few decades ago. Cars nowadays are built to last and they will last a long time unless it is not handled well and maintained. Manufacturers have high quality standards to uphold and are thus offering longer warranty periods.
Finding a well reputed, certified dealership, should be your main concern because a certified dealership will thoroughly inspect the cars and rectify any issues it may have, both cosmetic and mechanical. They will also make sure that the car has not had any major damage and offer a certificate acknowledging this. There are many options available to us in Hyderabad, so make sure that you visit at least a few before you narrow down to one.
Finally, getting a loan approved, especially from Qbera, for a pre-owned car is easier than ever before. In fact, the Down-payment and EMI would be more affordable for a used car than for a new car. So what is holding you back from taking over the steering wheel?
THE UNIQUE BENEFITS OF FINANCING YOUR PRE-OWNED CAR WITH QBERA:
Unlike other companies and banks, you do not need to put up your car as collateral if you choose Qbera, which in turn saves you time, money and effort when you finish the repayment.
Up to 100% financing
No need to dig deep for that down payment because when you take a personal loan from Qbera for a pre-owned car, we will fund up to the full value.
One day approval
No waiting. Application, approval and disbursement of your funding can be done in just a day!
24x7 support available
Taking a loan from Qbera means that we are committing to support you the way you deserve. We are available 24x7 to help answer 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 SECOND HAND CAR LOAN VIA QBERA:
Getting a second hand car loan via Qbera is as easy as buying an ice cream. It’s a simple five step process:
- Log on to Qbera.com and fill in the application form (which takes just about 5 minutes)
- Upload your bank statement on the website
- Receive an offer from Qbera within 4 hours
- A representative from Qbera will come to you, at your convenience and collect the required documents.
The amount will be transferred to your account in less than 24 hours
Qbera may be able to help when you need it the most. Apply now for a smart hassle-free loan in hyderabad.
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"
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.
A panel was of the opinion that state-run lenders need to be consolidated and private banks must compete with new-age financial services fintech firms through better technological innovation.