How Much Time Does It Take For A Pre-Owned Car Loan To Be Approved And Disbursed?
Poonawalla Fincorp’s Used Car Loan approval process is very smooth and fast, which means that borrowers can get quick car loan approval within minutes of applying for the loan. However, the disbursal of the loan amount may take a few hours to a few days, depending on the documentation and verification process.
Once the borrower submits the loan application and the necessary documents, Poonawalla Fincorp verifies the information provided and checks the borrower's creditworthiness. If the borrower meets the eligibility criteria and the loan application is complete, he/she will get the online car loan approval instantly. After the loan is approved, the borrower can expect the loan amount to be disbursed within 24 hours.
Also, do note that if the borrower has a good credit score and a strong financial profile, the loan approval process may be faster. On the other hand, if the borrower has a low credit score or there are any issues with the loan application, the approval process may take longer. So, it’s always a good idea to maintain a good credit score before applying for a Pre-Owned Car Loan.