What Is The Pre-Owned Car Loan Eligibility For A Salaried Person?
The Pre-Owned Car Loan eligibility for salaried individuals is as follows:
- Age: The applicant should be between 24 and 60 years of age.
- Residency: The applicant must be a citizen of India.
- Employment: The applicant should be employed with a reputed company.
- Credit Score: The applicant should have a good credit score of 700 or above.
- Work Experience:
- The applicant with an annual income of up to ₹10 Lakh should have a stable job history of 1 year and should be employed with the current employer for at least 3 months.
- The applicant with an annual income of ₹10 Lakh – ₹ 75 Lakh should have a stable job history of 2 years and should be employed with the current employer for at least 6 months.
These are some of the basic Used Car Loan eligibility criteria for salaried individuals. To determine the Pre-Owned Car Loan eligibility for a salaried person, you can also utilize our Used Car Loan eligibility calculator available on our website. The calculator will ask you to input information such as your monthly income, existing EMIs, and other financial obligations. Based on this information, the calculator will give you an estimate of the loan amount you are eligible for.