Car Loan

What is a Pre-owned Car Loan?

Chola offers Pre-owned Car Loans with minimum paperwork, fast processing and an attractive rate of interest. You can choose a repayment tenure of up to 5 years. You can also check out the Used Car Portal – Gaadibazaar.in for the best cars within your budget. Our customers enjoy the personalized support of Chola Executives at their doorstep, making the application to disbursal of the loan seamless and convenient. We make the loan application and approval process fast and easy for our customers keeping their valuable time in mind. We do not get into time consuming documentation rather; we have digitized the entire process.

Benefits and the quantum of loan usually depend on the lending institution like a bank or an NBFC. Car buyers can find loans approved for pre-owned cars with competitive interest rates and flexible tenures.

There are several factors you must keep in mind before planning to invest in a second-hand car. From knowing the vehicle well to learning if all documents presented are reliable, there are many steps that must be considered before going for a pre-owned car.

Most often, loans on pre-owned cars are flexible and easy to avail. The interest rates are low and the rate of approval is high

Make the smarter choice!

With all the verification and understanding of the vehicle, it makes more sense to invest in a used car over a new one. You can always buy a better variant or a bigger car in the same price as a new car if you opt to buy a pre-owned car.

Despite having a smaller budget, becoming a car owner is now easy if you plan and invest in a used car. Some of the many benefits of a used car loan are given below:

  • The application and the rate of approval is quite easy
  • The repayment tenure will be less as the loan amount is less – this helps you save a lot on interest rates.
  • You might, more often than not, get 90% or even 100% of the value of the car.
  • Buying a pre-owned car will require you to take a smaller amount as loan, saving a lot of money for you in the long run.

Features and Benefits of Availing a Pre-owned Car Loan

  • Up to 100% financing
  • Minimal documentation
  • Quick loan disbursal
  • Attractive rate of interest
  • Instant approval
  • In-principal sanction at the customer’s place

Several banks and NBFCs across the country provide loans for new and used cars. Chola passenger vehicle loans are a great option if you are planning to buy a used car.

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