High Loan Amount
Used Car Loan of Rs 50,000 to Rs 50 Lakh are available for all car brands.
Used Car Loan EMI Calculator
Get Used Car Finance in Patna With Quick Approval
Patna is the capital of Bihar - the 12th largest state by area, 3rd largest by population and 15th largest by GDP. Some of the most popular attractions in Patna include Takht Sri Harmandir Sahib Ji, Nalanda, Patna Museum, Patna Planetarium, Gandhi Sangrahalaya, Khuda Baksh Oriental Library, Kumhrar's Park, and many others. When it comes to industries, some popular options include grain, sesame, sugarcane, and rice. Being the capital state of Bihar, the city also has a demand for new and pre-owned hatchbacks, sedans, and premium cars.
If you are a resident looking for used car finance in Patna, you can borrow up to Rs 50 Lakh from Hero FinCorp. You can get a Used Car Loan in Patna at attractive interest rates and repay it with easy EMIs spread across a tenure of up to five years.
Features And Benefits of Second Hand Car Loan in Patna
Let’s look at the features and benefits of used car finance in Patna for private use from Hero FinCorp:
Attractive Interest Rate
The low Used Car Loan interest rate in Patna keeps your EMIs affordable without inflating costs.
Collateral-Free
No collateral required for used car finance in Patna; car is hypothecated until full repayment.
Flexible Repayment Tenure
Flexible repayment tenure of up to five years lets you choose an EMI plan with affordable instalments.
Instant Approval
Instant approval facility makes the loan immediately available, so you don't miss any worthy car on offer.
Eligibility Criteria for Second Hand Car Loan in Patna
Although Hero FinCorp has simple eligibility conditions for second-hand car finance in Patna, check and fulfil them before applying to avoid rejection. Here are a few criteria you must fulfil:
Age
18 to 60 years for salaried and 18 to 65 years for self-employed individuals
Citizenship
Indian citizens only
Work Experience
At least one year for both salaried and self-employed applicants
Monthly Salary
Hero FinCorp has no specific minimum monthly requirement for Used Car Loan applicants.
Documents Required for a Second Hand Car Loan in Patna
The documentation requirements vary for salaried and self-employed applicants. Here is a list of documents required for Used Car Loan in Patna:
Documents Required for Salaried Employee
Mandatory Documents
Duly filled application form, Car's registration certificate
Identity Proof
Aadhaar Card, Voter ID Card, Driving License, Passport, Photo ID Card issued by GOI
Address Proof
Driving License, Voter ID Card, Aadhaar Card, Utility Bill/ Rent or Lease Agreement, A letter having Name & Address Details Issued by the National Population Register
Age Proof
Birth Certificate, PAN Card, Driving Licence, Passport
Job/Business Proof
Form 16, ITR, Appointment Letter, Salary Slip with Joining Date on it, Relieving Certificate, Experience certificate
Signature Verification Proof
Banker's Verification, PAN Card, Passport
Income Proof
Latest Salary Slips, Form 16, Bank Account Statement, ITR
Documents Required for Self-Employed
Mandatory Documents
Duly filled loan application form, Car's registration certificate
Identity Proof
Aadhaar Card, Driving License, Voter ID Card, Passport
Address Proof
Driving License, Voter ID Card, Rent or Lease Agreement, Utility Bill, Aadhaar Card, A letter having Name & Address Details Issued by the National Population Register
Age Proof
Birth Certificate, PAN Card, Driving Licence, Passport
Job/Business Proof
VAT Registration, Sales Tax Registration, Excise Registration, Service Tax Registration Certificate, SSI or MSME Registration Certificate, Shop & Establishment Registration Certificate
Signature Verification Proof
PAN Card, Banker's Verification, Passport
Income Proof
Profit & Loss Statement, Recent ITRs, Audited Balance Sheet, Current Account Statement
Interest Rates & Charges on Used Car Loans in Patna
The Used Car Loan interest rate in Patna depends on your credit history, financial obligations, and overall repayment capacity. Here is an overview:
How to Apply For a Pre-Owned Car Loan in Patna?
Applying for a second-hand car loan is simple and quick at Hero FinCorp. Follow this simple stepwise procedure to apply for a Used Car Loan in Patna:
- 1
Visit the Hero FinCorp website and reach the Used Car Loan page.
- 2
Calculate the EMIs using an online EMI calculator.
- 3
Enter a few details under the “Apply for a Loan” section.
- 4
Enter your business or company name.
- 5
Click “Apply Now”.
- 6
Our executive will evaluate the application.
- 7
Once approved, you will receive the amount in your bank account.
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Frequently Asked Questions
At Hero FinCorp, you can borrow used car finance in Patna to buy a second-hand car of your choice. Here, you can borrow a loan of up to Rs 50 Lakh, depending on your requirements and repayment capacity.
You can use a Used Car Loan to purchase a 10-year-old car in Patna. However, the physical and mechanical condition of the car is important for attracting approval.
Borrowing a second-hand car loan in Patna offers several benefits, including the following:
- Keep your savings intact
- More power to buy a costlier car
- Spread the car’s cost into easily affordable EMIs
- Competitive interest rate to keep the car’s cost under control
- Minimum value depreciation after purchasing
Although Hero FinCorp does not have a minimum CIBIL score requirement to approve used car finance in Patna, you must have a solid credit history to prove your creditworthiness. Ideally, a CIBIL score above 750 is good enough to attract loan approval at low interest rates.
At Hero FinCorp, you can get up to a 100% Used Car Loan by maintaining a decent credit score, providing a regular income source, and reducing your financial obligations.
The CIBIL score ranges from 300 to 900. A score above 700 is good enough to attract quick loan approval at a low interest rate.
Brands like Maruti and Tata are preferred by most in India due to their reliability and affordability. You can choose any brand and fund its purchase with Hero FinCorp’s used car finance in Patna for private use.