Old Car Loan – Singroha Associates
Affordable Financing for Used Cars in Panipat
Table of Contents
Introduction
An Old Car Loan is a financing solution designed to help individuals and businesses purchase used or second-hand cars at affordable rates. Singroha Associates, a trusted name in Panipat since 2020, offers tailored Old Car Loan options to meet your personal or business transportation needs. With over 5,000 successful cases, we ensure quick approvals, competitive interest rates, and a transparent process, making car ownership accessible for Panipat’s residents.
Key Features
Our Old Car Loans are designed to provide the following benefits:
- Competitive Interest Rates: Starting at 8% p.a., customized for used car financing.
- Flexible Loan Amounts: From ₹50,000 to ₹20 lakh, based on car value and condition.
- Flexible Tenure: Repayment periods from 1 to 5 years, aligned with your financial plans.
- Quick Processing: Loan disbursal within 3-5 working days with minimal documentation.
- High Loan-to-Value Ratio: Up to 90% financing on the car’s market value.
- Collateral Options: The car itself as primary collateral; no additional security required.
Types of Old Car Loans
We offer various Old Car Loan options to suit different needs:
- Standard Old Car Loan: For cars up to 7 years old in good condition.
- Certified Pre-Owned Car Loan: For certified used cars with extended warranties.
- Premium Used Car Loan: For high-value used cars (e.g., luxury or SUVs).
- Refinance Loan: Refinance existing car loans for better rates or terms.
- Top-Up Loan: Additional funding for existing car loan borrowers.
Our Old Car Loan Providers
We partner with leading banks and NBFCs to offer the best financing options for used cars:
| Provider | Loan Amount | Interest Rate | Tenure | Collateral |
|---|---|---|---|---|
| HDFC Bank | ₹1 lakh – ₹20 lakh | 8% – 14% | 1-5 years | Car |
| ICICI Bank | ₹50,000 – ₹15 lakh | 8.5% – 14.5% | 1-5 years | Car |
| Axis Bank | ₹1 lakh – ₹15 lakh | 9% – 15% | 1-5 years | Car |
| Bank of Baroda | ₹50,000 – ₹20 lakh | 8% – 13.5% | 1-5 years | Car |
| State Bank of India | ₹1 lakh – ₹15 lakh | 8.5% – 14% | 1-5 years | Car |
| Mahindra Finance | ₹50,000 – ₹10 lakh | 9% – 15% | 1-5 years | Car |
Note: Terms are subject to change based on lender policies and applicant eligibility.
Eligibility Criteria
To apply for an Old Car Loan, you must meet the following requirements:
- Nationality: Resident citizen of India.
- Age: 21-65 years at the time of loan maturity.
- Occupation: Salaried individuals, self-employed professionals, or business owners.
- Income: Minimum monthly income of ₹20,000 (salaried) or ₹2 lakh annual ITR (self-employed).
- Credit Score: Preferably 650+ CIBIL score; some lenders accept lower scores.
- Documents: KYC (Aadhaar, PAN), income proof (salary slips, ITR, bank statements), car valuation report, and purchase agreement.
Application Process
Our streamlined application process ensures quick access to funds:
- Visit our Panipat office to fill out the loan application form.
- Submit KYC, income proof, car valuation report, and purchase agreement.
- Our team coordinates with lenders for document verification and car valuation.
- Receive loan approval and disbursal within 3-5 working days.
Benefits of Choosing Us
Singroha Associates is your trusted partner for Old Car Loans:
- Expert Guidance: Over 10 years of experience with 5,000+ successful cases.
- Fast Processing: Hassle-free applications with minimal paperwork.
- Customized Solutions: Loans tailored to your financial needs.
- Transparency: No hidden fees, clear terms, and RBI-compliant processes.
- Strong Network: Partnerships with top lenders like SBI, HDFC, and Mahindra Finance.
Why Panipat Businesses Trust Us
Singroha Associates is a preferred choice for Panipat’s community:
- Local Expertise: Deep understanding of Panipat’s financial needs.
- Client-Centric Service: Personalized support for every customer.
- Proven Success: Empowered thousands of local clients since 2020.
- Community Ties: Strong relationships with Panipat’s residents and businesses.
- Ethical Practices: Adherence to RBI guidelines and transparent dealings.