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Purchasing a second-hand car is a great way to own a vehicle in your budget. However, if you don't want to pay upfront, you will require a used car loan to facilitate it. That is where a used car loan comes in—providing you with access to flexible lending to buy your preferred automobile without hampering your savings.
In this guide to used car loans, we walk you through all that you must know—ranging from what a pre-owned car loan is to how IDFC FIRST Bank makes it as easy, quick, and borrower-friendly as possible.
A second-hand car loan is a borrowing facility through which you borrow funds to purchase a used or second-hand car. You pay back the loan in monthly payments for the tenure that has been opted for along with the interest applicable. Such loans are generally extended to salaried as well as self-employed professionals and usually come with the facility to refinance a vehicle you already own.
At IDFC FIRST Bank, used car loans are structured to provide instant approvals, have minimal documentation requirements, and offer competitive terms.
Features of IDFC FIRST Bank’s used car loans
IDFC FIRST Bank's used car loans are designed around convenience, affordability, and speed. Here's why they stand out:
A good deal on four wheels starts with the right financing. Choose wisely—drive confidently.
IDFC FIRST Bank makes the eligibility process inclusive and simple -
Though the bank offers loans without financial documents to most applicants, typical documents are:
Getting a used car loan from IDFC FIRST Bank is quick and easy:
If you're looking to purchase a second-hand vehicle, this guide to used car loans is where you begin. IDFC FIRST Bank provides everything you look for in a contemporary loan experience—competitive interest rates, instant approvals, flexible tenures, and a 100% LTV. Whether you're a first-time buyer or want to release funds from an existing vehicle, a used car loan with IDFC FIRST Bank is a smart, secure, and hassle-free option.
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.