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Get Used Car Finance in Bobbili With Quick Approval.
Bobbili is a town in Andhra Pradesh’s Vizianagaram district. Many people reside in Bobbili due to its quality education system through Rajah RSRK Ranga Rao College and Samsthanam High School. Popular attractions in and around the town include Sri Venu Gopala Swamy Temple, Chitrakote Waterfalls, Bobbili Kota, Kotumsar Cave, and the VMRDA INS Kursura Submarine Museum. Prominent industries in the district include pharma, steel, sugarcane, ferro alloys, cashew processing, chemicals, etc.
If you live in Bobbili, a pre-owned car can be an excellent transportation medium to get around the town on a budget. However, when you are short on money, a Used Car Loan in Bobbili from Hero FinCorp can be the top financing option. We finance up to 175% of the used car purchase with a loan amount of up to Rs 50 Lakh. Read on to find out more about our Used Car Finance in Bobbili.
Features and Benefits of Hero FinCorp Second-Hand Car Loan in Bobbili.
Understanding its features and benefits is essential before learning how to obtain a second-hand car loan in Bobbili. These include the following:
High
Loan Amount
At Hero FinCorp, you can borrow up to Rs 50 Lakh second-hand car finance in Bobbili.
Attractive
Interest Rate
Hero FinCorp provides the most reasonable Used Car Loan interest rate in Bobbili, starting at 12.5% per annum.
Collateral-Free
You can get used car finance in Bobbili without pledging any asset as collateral.
Flexible Repayment Tenure
You can repay a second-hand car loan in Bobbili across a tenure of up to five years.
Instant
Approval
Thanks to the digital loan procedures, no collateral is required.
Are You Eligible?
Let's Find Out.
Checking the eligibility criteria is essential to avoid rejection due to frivolous reasons. To qualify for second-hand car finance in Bobbili from Hero FinCorp, you must fulfil the following eligibility criteria:
- •Age: 18 to 60 years for salaried employees; 18 to 65 years for self-employed.
- •Citizenship: Indian citizenship is mandatory for Used Car Loan application at Hero FinCorp.
- •Work Experience: Minimum 1 year for both salaried and self-employed individuals.
- •Monthly Salary: You must have a monthly income of at least Rs 15,000.
Interest Rates on Used Car Loans in Bobbili.
Hero FinCorp offers loans at the best interest rate for Used Car Loans in Bobbili. However, your final interest rate largely depends on the following factors:
Pre-Owned
Car Loan Interest Rates
Starting from 12.5% to 26%
Loan
Amount
Rs 50,000 (Min) – Rs 50,00,000 (Max)
Loan
Tenure
12 Months (Min.) – 60 Months (Max)
Loan
Processing Fees
0.5% - 4%
Prepayment
Charges
5% on Principal outstanding (additionally interest up to 6 months for foreclosures within 6 months from date of disbursement)
Other
Charges
As applicable
How to Apply For a Pre-Owned Car Loan in Bobbili?
Follow these steps to apply for a Used Car Loan in Bobbili:
Visit our Used Car Loan page.
Enter the required loan amount, interest rate and tenure in the EMI calculator. It will give you an estimate about the EMI you have to pay.
Under “Apply for a Loan”, provide the correct personal and professional details along with your mobile number and OTP received.
Then agree to the Terms & Conditions by ticking the checkbox and click on “Submit”.
The latest news.
FAQs.
There is no lender offering the lowest Used Car Loan interest rate in Bobbili. The rate differs for each loan seeker based on their credit history, loan amount, down payment, repayment tenure, DTI ratio, repayment capacity, and other crucial factors affecting their eligibility.
To get a second-hand car loan in Bobbili with low EMIs, maintain a decent credit score, increase your down payment, reduce your DTI ratio, and show a high income to prove your repayment capacity. Moreover, choose a longer repayment tenure to reduce your EMI amount. However, that may increase your total interest outgo by the term completion.
Taking second-hand car finance in Bobbili is beneficial in many ways. Most importantly, it lets you purchase your dream car without paying its cost upfront. It finances up to 175% of its price and distributes the expense into easy EMIs. Since your savings do not constrain your car choice, you can choose a higher-end model with better features and mechanics.
