CAR LOAN SCHEME FOR USED CAR
SBI provide the best car loan scheme for you to take a loan for purchase of used car, not more than 5 years old.
SBI offers you:
You can take finance for purchase of passenger cars, Multi Utility Vehicles (MUVs) and SUVs not more than five years old.
To avail an SBI Car Loan, you should be:
a) a) Net Annual Income of applicant and/or co-applicant if any, together should be Rs. 3,00,000/-
b) Self employed, professionals and Proprietary / Partnership Firms:
Net Profit or Gross Taxable income of Rs. 4,00,000/- p.a. ( income of co-applicant can be clubbed together)
Net Annual income of applicant and/or co applicant together to be Rs. 4,00,000/-
Maximum Loan amount will be 2.5 times of net annual income. Spouses income could also be considered provided the spouse becomes a co-borrower in the loan.
You would need to submit the following documents along with the completed application form:
15% of the on the road price (which includes vehicle registration charges, insurance, one-time road tax and accessories).
You can enjoy the longest repayment period in the industry with us as long as 84 months.
As per Bank's extant instructions.