Used Car Loan
IK ONKAR FINANCE COMPANY is a best-in-class provider of Financing Solutions for both certified & non-certified Used Cars.
Pre-Owned Car Loan Eligibility Criteria:
To avail of a used car loan, you must fulfil certain eligibility criteria:
| Age | One should be an Indian citizen with a minimum age of 18 years and the maximum age of 60 years for salaried individuals and 65 years for self-employed, by the end of the loan tenure. |
| Occupation Status | The applicant should have been in a stable job for at least 1 year.In the case of self-employed, the applicant should have been in the existing business for at least 1 year. |
| Loan Tenure | The loan is available for a minimum tenure of 1 year and the maximum tenure of 5 years. |
| Loan Amount | A loan for a used car is available for a minimum amount of Rs 50,000 to the maximum amount of Rs 5 lakhs.The maximum LTV on a used car loan is 90%.Top-up loan of up to a maximum LTV of 175% of the used car loan value.The LTV ratio or maximum loan amount depends upon various factors such as the applicant’s profile and car’s condition. |
| Monthly Income | There is no such predefined monthly income. |