Checklist For Your Pre-owned Car Loan Application

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Checklist For Your Pre-owned Car Loan Application
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Benefits of taking a second-hand car loan

• You have the option of choosing your own loan
  term and EMI.
• There is a wide range of affordable cars to pick
  from.
• Simple application and documentation process.
• No need to pledge additional collateral.

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Things to remember before taking a used car loan.
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Credit score

• Before applying for this loan, check your credit
  score.
• To improve your credit score, pay off your
  previous debts.

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Loan terms

• Read the terms and conditions before signing the
  application.

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Hypothecation terms

• If you default, the lender may auction your car.
• Read the hypothecation terms and conditions.

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Decide on lender

• Compare the rates and offers of various lenders.

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Decide on your budget

• When choosing a car, never exceed your budget.
• Select a lender with a low interest rate.

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Used car loan qualifying conditions

• You must be an Indian citizen above the age of
  18.
• A minimum of 6 months in a job or 1 year in
  business is necessary.
• Must possess a strong credit score.

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Used car loan documentation process

• KYC documents
• Income proof
• Passport size photograph

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• By keeping the above checklist in mind, you can
  easily obtain a used car loan.

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Thanks!
Would Love to hear from you.
Hero Fincorp Limited
09, Basant Lok, Vasant Vihar, New Delhi -
110057
Tel [phone]
Email corporate_at_herofincorp.com
Website https//www.herofincorp.com/
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