With the arrival of different car varieties making presence everyday in the Indian market, and also the rise in disposable income of individuals; more and more people tend to look for a car upgrade almost every two years. This has led to a huge used-car market, which has its own audience as not everyone fancies a brand new car or can afford one.
The popularity in the used car segment has led to more and more banks and independent financial institutions offering used car loans to attract this very audience. However, before you jump into a used car loan process, here are a few things that you must bear in mind to ensure that you bag the best deal without much hassle:
Overview of Mahindra Finance Used Car Loan
Mahindra Finance is a leading non-banking financial company that is headquartered in Mumbai, India. Founded in 1991, it has served more than three million customers till date. Apart from vehicle financing, Mahindra Finance also offers SME financing, housing finance, insurance broking, fixed deposits and much more.
Why Pick Mahindra Finance Used Car Loan?
- Mahindra Finance offers used car loans for vehicles upto 10 years old.
- Greater Flexibility – Mahindra Finance offers greater flexibility while offering used car loans to its customers.
- Speedy loan disbursal – Mahindra Finance offers speedy loan disbursals for used car loans.
- Extended Loan Tenure – Get used car loan for upto 5 years.
- Low Interest Rates – Mahindra Finance offers a competitive interest rate that is lower than other unsecured loans.
Benefits of Applying Mahindra Finance Used Car Loan on Letzbank.com
- Broad Loan Range – Letzbank is a one stop shop for all financial needs. You can choose from a variety of loan offerings at one place without having to visit different bank websites.
- Compare Loans – Easily compare loans offered by different banks with the simple filter tool according to your choices and requirements.
- Service Charge Waiver – Get the service charge waived off that is applicable on all loan applications when you apply for a loan directly at Letzbank website.
- EMI calculator – Calculate your loan EMI with ease with the help of Letzbank’s EMI calculator tool that only needs the loan amount, interest rate and loan tenure to calculate the EMI for you.
- Quick Apply feature – If you are in a hurry or unsure which is the best loan choice for you, rely on Letzbank to help you choose. Simply click on the Quick Apply button and enter a few basic details and a Letzbank representative will contact you.
- Efile IT Returns – Amongst the various services offered by Letzbank, you can file your income tax returns online with a click of a button. As some loans require filing of income tax returns as a mandate, this feature comes in handy.
- Check your Credit Score online – Check your credit score before applying for a loan to know your eligibility and your credit health at Letzbank website.
- Document Locker – Document Locker is a great tool offered by Letzbank that allows you to store your important documents online with utmost security and protection. This is useful when you need to apply for different loans and services on Letzbank and you can easily submit the documents online without much hassle.
Mahindra Finance Used Car Loan Eligibility
The eligibility criterion is determined according to the individual and the used car product.